Dharuhera real estate update
Dharuhera, emerging as a good alternative to Gurgaon in terms of real estate investment, is an ideal destination for homebuyers looking for mid-segment housing options. The place presently looks similar to how Gurgaon looked like two decades ago.
Location and Connectivity
Dharuhera is located in Rewari district of Haryana and is a part of the National Capital Region of Delhi. It is strategically located on National Highway-8, in the south-western part of the nation’s capital Delhi. The place lies at 41 km from Gurgaon, 71 km from Delhi, 66 km from Faridabad and just about 5 km from Bhiwadi. Indira Gandhi International Airport is located at about 60 km from Dharuhera.
Dharuhera is well connected with various parts of the NCR through important roads such as NH-8, Dharuhera-Bhiwadi bypass road and Papari Road. Through these roads it has good connectivity to all surrounding cities including Gurgaon, Faridabad, Palwal, Rewari, Agra, Mathura, Jaipur, etc.
Realty development
Dharuhera is among the favourable destinations for low-budget investors in Delhi-NCR. Many multi-storey apartments and integrated townships have come in the past which seems promising that about the area’s realty development.
There are totally 25 sectors in Dharuhera of which the Haryana Urban Development Authority (HUDA) has sold three sectors to individual buyers. The three sectors include 4A, 6-I and 6-II, and already have about 85 percent occupancy rate. Some other sectors are comprised of industries while in the remaining sectors, developers have been launching new commercial and residential projects.
The developers have been making big efforts to show Dharuhera as a next big satellite city in the making after Gurgaon. As it is difficult for the mid and low-income group buyers to afford to buy a property in Gurgaon, they have been considering Dharuhera as an alternative.
Many renowned developers have launched projects in the past five-six years and have received good response from buyers as well as investors. Some of the developers include Avalon, Vardhman, Parsvnath, Raheja, Bestech, Dwarkadish, Ferrous Group, Shivsan Buildwell, etc. As of now, very few residential projects have offered possession to home buyers or in the completion stage while most of them are under construction. In the next five years, there will be around 25,000 ready-to-move-in flats available in this part.
Some of the residential projects in Dharuhera include Raheja Oma, Bestech City, Shiv Rohilla, Avalon Rangoli, Vipul Gardens, Ferrous City, Parsvnath Pleasant, etc.
Compared to the local residents, the investors from the NCR region largely contribute to the real estate demand in Dharuhera. In this context, it is no wonder that if these investors stop investing in this micro-market, then there may not be any marginal growth in the place’s real estate market.
Price factor
The prices of properties in Dharuhera are pretty affordable compared to that of Gurgaon, Noida, Delhi and Ghaziabad. Those who cannot afford to buy property in Delhi or Gurgaon turn to invest in Dharuhera.
The property prices in Dharuhera have recorded good appreciation over the last one year. Apartments in Bestech City project were being sold last year at a rate of Rs 2,200 per sq ft while now the price has increased to Rs 3,200 per sq ft. Similarly, Raheja Oma was offering units at Rs 3,975 per sq ft which has now increased to Rs 4,575 per sq ft.
The new projects in Dharuhera have been offering a price tag of around Rs 2,500 per sq ft to Rs 3,000 per sq ft. 2 BHK units in Dharuhera are available in the price range of Rs 30 lakh to Rs 35 lakh.
Infrastructure
The infrastructure of Dharuhera will get a boost with the proposed projects like KMP Expressway and the proposed rapid rail corridor between Delhi-Alwar. Many industrial and commercial developments have been planned in Dharuhera and its surrounding areas.
The connectivity will also get a boost with the upcoming metro station at Dharuhera. BML Munjal University is also in the pipeline of new projects in Dharuhera.
Civic issues
There are few civic issues prevailing in Dharuhera, which have been annoying the residents. Though the area is developing in terms of real estate and infrastructure, the residents allege that it needs attention regarding issues related to basic facilities such as water, power, security, sewage, etc.
