Golf Course Road, also known as GCR, is considered to be an ideal investment spot in Gurgaon. Considered a high-end locality, the residential micro-markets of GCR and Golf Course Road Extension have around 20 schools existing within 3 km of the area. One of the prominent schools nearby is Delhi Public School. There are a large number of apartments in this area, making it the predominant housing option available here. It is located at a central location in relation to the vital hubs of the city such as MG Road.
Named after the DLF Golf Course in Sector 42, the sectors around Golf Course Road are a mix of residential and commercial buildings, but it is regarded to be a commercial hub that caters to the needs of the working professionals. Golf Course Road Extension boasts of excellent connectivity by road. Its proximity to the airport is another attractive offering of the area.
With adequate schools, hospitals, restaurants and apartments in and around GCR, this area is an established locality with easy access to Delhi. The DLF Mega Mall and Central Plaza are also in this area, giving residents shopping malls that are conveniently nearby. The area is also home to IBIS hotel. This area is known for its luxury service apartments that are favoured among business travelers.
Connectivity and transit points
Golf Course Road is one of the three chief corridors in Gurgaon, and Golf Course Road Extension is connected to Golf Course Road, Mehrauli-Gurgaon Road, and Sohna Road, which are the important corridors in the region. National Highway 8 is also easily accessible from here.
Genpact Bus Stop is a prominent bus stop on this road for residents and office-goers, and the nearest rapid metro stations are M.G. Road Metro Station and Sikanderpur Rapid Metro Station on M.G. Road. Gurgaon Railway Station is around 13 km away from Golf Course Road and Indira Gandhi International Airport is around 18 km away from this area, making it a thirty-minute drive to the airport.
Genpact Auto Stand provides commuters with easy access to traveling locally. Apart from this, there are two more auto stands in the area. Commuters can also use cabs, as there are many taxi services in the sectors surrounding Golf Course Road.
Factors for growth in the past
When Maruti made Gurgaon their headquarters, the region witnessed a spurt in development. Genpact and other back office service companies came to this National Capital Region (NCR), and brought with it other ITES and IT companies. All of these factors made Gurgaon the region leading in development, and Golf Course Road was part of this change. Golf Course Road and Golf Course Road Extension are some of the few real estate micro markets that were developed by private property developers.
With the advent of a thriving commercial centre here, residential real estate also grew with a focus on luxury housing options. Golf Course Road Extension is a comparatively new locality and luxury service apartments along this road became the favoured option for foreigners who had business in the surrounding offices.
The locality's proximity to M.G. Road has also contributed to its growth over the years, making it a blend of residential and commercial space. Being close to Delhi also played a crucial role in the growth of the region.
Residential & Commercial Market
Residential market trends
Apartments largely populate Golf Course Road and they are the preferred housing option due to the lack of adequate land for many individual houses in Golf Course Road. Since the commercial growth initiated the residential growth, apartments became the apt housing option in the surrounding sectors. The extension of Golf Course Road has created more affordable housing options for residents but the prices are steadily rising to match Golf Course Road, which has seen some of the highest property rates in the NCR in the past.
The average price of apartments in Golf Course Road for Q3 2013 ranged from Rs 10,000-25,000 per sq. ft. In Q1 2014, the rates stabilised at Rs 14,623 per sq. ft. Rental values can go up to Rs 55,000-1,25,000 per month.
Commercial market trends
The commercial space in Golf Course Road is quite prominent, and it was the trigger for the residential housing options that appeared around the area. This area is part of the Peripheral Business District (PBD) in the city, and the market shows that the rental rates have reached their maximum in the commercial properties along Golf Course Road. This golf-centric development has some quality commercial spaces, at rates that can go up to Rs 14,990-17,100 per sq. ft as per the Q1 2014 rates.
One of the biggest problems in Golf Course Road is the lack of proper traffic management for local travellers. The roads are not built to support large amounts of traffic, sufficient traffic signals are not present, and signs on the road cause a problem for commuters. The roads are also not well-lit making commuting difficult for those who have to travel after the sunsets.
Many of the Resident Welfare Associations (RWAs) in the surrounding sectors have created rules that make it hard for residents to own pets. People in the city are known to be uncooperative when pet-owners try to take their pets for a walk too. Even though the law is on the side of pet owners, as per the regulations of the Animal Welfare Board of India, pet owners have faced issues. Animal welfare bodies have tried to support local residents but the general attitude towards pets in Gurgaon is considered hostile.
Factors for growth in the future
A metro was planned to come up on Golf Course Road, near One Horizon Center. But the rapid metro station was canceled as the authorities found that it may not be technically practical. The plan was changed because a sixteen-lane speed corridor is planned here, to connect the sectors with the Delhi-Gurgaon expressway. Delhi Land and Finance (DLF) and HUDA (Haryana Urban Development Authority) are constructing a flyover and underpass to ease traffic in the area. The second phase of the metro construction is expected to be completed around the middle of 2016 and authorities hope to have it operational by then too.
The road that will be the result of the union of the HUDA and DLF is going to be integrated with the design of the metro railway line. The design of this road was planned by AECOM, which is a design and planning firm. The firm looked at urban planning improvements, infrastructure and traffic in Gurgaon before formulating the plan. This will make life easier for those who work in Google, Coca-Cola, Microsoft, IBM, American Express, Dell, Nokia, and Hewlett Packard.
HUDA plans to install three thousand LCD lights on the important roads on the area, solving the issue of unlit roads for commuters and pedestrians. There are many other improvements planned for the area such as better water supply, more efficient solid waste management and better power supply.