Market boom on Gurgaon – Faridabad Road
Gurgaon Faridabad Road, which became operational on July 1st, 2013, has endowed areas along its belt, with a wonderful opportunity for real estate development. The Gurgaon Faridabad corridor covers a stretch of 66 km and includes a number of roads, including Ballabhgarh-Sohna, Pali Bhakhri and Surajkund Road.
The 4 laned Gurgaon-Faridabad road has been built at a cost of Rs. 800 crore, by Reliance Infrastructure Limited (Rinfra). Starting from Mehrauli Road in Sikanderpur, this road runs a stretch of 25km , to end at the junction of Pali Bhakri road in Faridabad.
Connectivity
Gurgaon Faridabad road links with a number of other roads, providing excellent connectivity to the capital city Delhi, and other areas of the NCR. This factor makes the belt along the road preferred among investors, builders and buyers for developing, selling, buying and renting of properties.
The corridor connects important tourist destinations, corporate and industrial zones and also provides easy accessibility to the Indira Gandhi International airport. To ensure smooth traffic, two toll plazas are built on Ballabhgarh-Sohna stretch, in addition to the 14-lane toll plaza constructed on Gurgaon-Faridabad road. Connectivity with the airport adds to the convenience of the tourists coming over to visit Mathura, Agra, Jaipur, Surajkund and other historical places of Rajasthan and Uttar Pradesh.
According to the Gurgaon-Manesar Master Plan 2025, provision has been made for developing additional road links between Delhi and Gurgaon. 90 metres wide road links between Vasant Kunj (Delhi Border) in Delhi to Mehrauli road in Gurgaon, and from Andheria Mor in Delhi to Gurgaon – Faridabad road in Gurgaon , through Mandi and Gual Pahari would be built, in addition to the 150 metres wide road link between Dwarka residential complex of Delhi to National Highway 8 before Toll-Plaza towards Gurgaon. These developments are sure to shoot up the prices of plots and properties in Gurgaon, Faridabad and other surrounding regions of the NCR.
Property prices
Housing projects in the areas around the Gurgaon Faridabad region feature properties that are offered in an average price range of Rs 6,000-12,000 per sq ft.Areas that were previously under-developed, are being revamped to suit the standard of national highways. An appreciation of about 30% in property prices is witnessed annually in the region. While during the first quarter of 2012, the average sale price of land here was Rs. 6300 per sq.ft, the same rose to about Rs. 8200 per sq.ft during the first quarter of 2013. However, rental values have not varied greatly during the two quarters. The same was about Rs.15/sq.ft during 2012 and raised to about Rs. 16/sq.ft, during the first quarter of 2013.
Major projects
Infrastructural development is taking place in a fast pace along the surrounding areas of the Gurgaon Faridabad road, with the implementation of the Master Plan which provides provisions for residential cum commercial structures, wider roads and parks.
Most of the residential areas here are covered under DLF Phases. The DLF 18-hole golf course, developed in its surrounding region, is one of the major attractions of the area. It is ranked as one of the best golf courses in Asia and world class fairways are featured by the huge project, in addition to 5 lakes, streams, and a variety of flora and fauna. Sports lovers and golfers invest in the projects launched nearby the golf course, as they are provided with excellent sporting facilities and training.
Some of the important projects lying in proximity to the Gurgaon- Faridabad road are Valley View Estate by Ansal API, Province Estate by Krrish Group, Trade Centre by Paras and Gurgaon Hills by IREO.
Apart from the above mentioned projects, a numbers of hotels, luxury housing units, malls and other projects are in the pipeline. Wal Pahadi, along the Gurgaon-Faridabad Road, has been earmarked for an SEZ project.
