Sunday, 19 January 2014

New Gurgaon still better than Dwarka expressway

While driving past the National Highway 8, one may have seen new buildings coming up after the Hero Honda Chowk in Gurgaon. The developments in this part of Gurgaon give a feeling that the Millenium City is still expanding has an appetite for more! With its quick appreciation potential, Gurgaon and its several parts in the past 5-8 years have been the cynosure of attraction and centre of activity for many investors and homebuyers.

The sectors along the NH-8, popularly called as New Gurgaon, being one of the most desirable destinations for property investment offers a number of options for property investments ranging across categories. In recent years, the attractiveness of the real estate hotspot has increased even more because it fulfills the rising housing demand within the region with better quality properties at affordable rates – a boon for mid-income buyers like us.

The new sectors falling under the New Gurgaon has progressed to become the sign of rapid development and massive commercial growth too in the last few years. Today, New Gurgaon is home to several multinational fortune companies, which have occupied office spaces in some of the upcoming business districts of new sectors between 76 and 113. 

While the construction is new in all these sectors, the only thing that could be a concern for many is the long commute to the area. However, in coming years, the concern will change into a smooth drive with the superb road infrastructure coming up. In terms of similar location or region, only Dwarka Expressway is another region in Gurgaon that offers a number of options and can be compared to New Gurgaon. While the Gurgaon city has a robust rental market, the two regions – New Gurgaon and Dwarka Expressway offer good investment options. But what makes New Gurgaon a notch better than DwarkaExpressway is the affordability quotient.

While Dwarka Expressway offers properties in the average range of Rs 7,500 to 8,500 per sq ft in the resale market, sectors in New Gurgaon offer properties in the average range of Rs 5,000 to 5,500 per sq ft. NewGurgaon still has affordability to boast about.

The prospects of  liveability at these locations depend mostly on the upcoming and enhanced infrastructure, zoning of retail, healthcare and education. But if we compare New Gurgaon and Dwarka Expressway, the later still faces acute shortage of water – one of the basic amenities for livelihood. In contrast, recently sectors in New Gurgaon have received the nod from the Government and the Haryana Urban Development Authority (HUDA) for regular water supply. The water supply line is being extended from the Basai water plant to the Sector 51. The pipeline will bring water to several colonies in NewGurgaon, including DLF Phase V and the boosting station will service the sectors after Sector 43. This would definitely add value to the investment potential of the area.

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