Gurgaon now looks to its periphery

Gurgaon realty has always been centred on the Golf Course road and the M-G road. The attraction offered by the former is the mixed development of high specifications both in the residential and commercial segment while the latter has been popular on account of the malls and also for its connectivity to the NH-8.

With saturation setting in along these locations, developers have now focussed their attention on the Golf Course Extension Road and the Northern Peripheral Road. In early 2008, prices were in the range of Rs 3,000 a square foot. That has risen since then and today, projects command a price of Rs 6,000 and above per sq ft.

In fact, no builder has a new launch planned that is less than Rs 7,000 per sq ft. Those like Emaar and M3M are selling projects in this area at even higher prices, on account of the luxuries they offer.

Golf Course Extension road is now getting connected to NH-8, which is behind Haldiram in that area. A lot of other new developments are also coming on this road which covers Sectors 70, 70A, 71 etc. DLF had launched several plots in this location a year ago, and interestingly, had managed to sell all the plots in a period of two days on down payment plan.
 

The connectivity to NH-8 and the Golf Course offers an advantage and this is the main reason for the rapid price appreciation. A lot of reputed builders have projects under way in this area such as Tata Housing, Unitech with more than 300 acres, BPTP with similar area and M3M. Projects like Unitech Vistas is already on its way to completion and has attracted about 70 per cent premium from the launch price. Tata Housing is also planning to launch villas in their project in Sector 71. BPTP has been selling plots in the range of Rs 55,000 per square yard.
 

To decongest NH-8, both the NPR (Northern Peripheral Road) and SPR (Southern Peripheral Road) are under construction and will become operational in around 18-24 months, when both the roads would be ready for use.

NPR may get functional a little earlier, as there is less development work to be done in this area and the surroundings are also already occupied. This may also be a reason why property rates are increasing faster in this area.

Both the NPR and Golf Course Extension Road present a good investment opportunity with potential for rapid appreciation once the road links are functional. Source: Financial Express