Top most preferred localities in Gurgaon

Despite being touted as one of the popular investment hubs of NCR, Gurgaon’s realty market has hit a major roadblock owing to inventory stockpile and ambiguity pertaining to policy changes such as demonetisation and RERA. At the same time, several localities in the Millennium City continued to garner consistent enquiries from end users in the Apr-Jun 2017 period, reveals by latest Insite report.

Backed by gradually improving road infrastructure and an influx of possession-ready homes in Gurgaon’s real estate market, certain localities remained at the cynosure of buyer community. Enhanced connectivity resulting from accreditation of ‘National Highway’ status to Dwarka Expressway also pumped market sentiment. According to latest Insite report (Apr-July 2017), Golf Course Extension, Sohna Road and South City Phases 1 and 2 emerged as the popular hotbeds for investment in Gurgaon.

Golf Course Extension Road 

Known for its strategic location and proximity to prime areas, Golf Course Extension road is a very well-planned stretch which is being developed from the scratch. Being situated close to the well-established Sectors of Gurgaon such as 49, 50, 57, 65, 69 and 70, social amenities such as schools, hospitals, malls, banks and supermarkets are easily accessible within a radius of 3-4 km. Rajan Kumar Hans, Founder and Director, PropWindow avers, “Upcoming premium housing projects by renowned developers coupled with rapid commercial development along the stretch has garnered eyeballs from buyers and investors.”

Although, presence of metro through the functional Sector 55-56 rapid metro station has improved connectivity in this part of Gurgaon, the upcoming Southern Peripheral Road (SPR) will further strengthen it and is anticipated to have an impact on the overall real estate of the region.

Sohna Road 

Situated towards the South of Gurgaon, Sohna Road is a business district, majorly constituting offices of automobile giants. Due to large scale commercial activities, there is a limited availability of housing options here which magnetises homebuyers and investors to this belt. Proposed infrastructure plans such as the upgradation of Sohna Road into a six-lane stretch is also expected to give a push to the realty landscape of this key micro-market. Experts believe that Sohna Road has the potential to become the next investment hub in Gurgaon owing to its excellent connectivity with NH-8 and commercial expansion. According to latest Insite report, the ongoing capital values in Sohna Road are Rs 5,700-7,600 per sq ft recording a drop of 2 percent QoQ.

South City

South City 1: Sprawled across popular sectors such as 29, 30 and 41 in Gurgaon, South City 1 is a planned residential township by Unitech Group. “Besides, having the benefit of being accessed by major roads, the locality comprises of low-rise developments and is acknowledged for availability of apartments in gated societies, builder floors and villas,” adds Hans. Established infrastructure, presence of social amenities and connectivity through HUDA City Centre Metro Station makes South City 1 one of the most sought after localities in Gurgaon. According to latest reoprts, average capital values in South City 1 observed a 1 percent fall q-o-q, dropping to Rs 9,000 per sq ft.

 

South City 2: Just like South City 1, South City 2 is another integrated township by Unitech known for offering housing options ranging from apartments, builder floors, villas and plots. The township is spread across Sectors 49 and 50 that boast of excellent civic infrastructure incorporating schools, hospitals, local shopping complexes and ample retail and office spaces. Furthermore, the locality’s accessibility to Sohna and MG Road adds to the attractiveness quotient of this locality and makes it one of the most favoured residential hubs of Gurgaon.

Despite witnessing a downward trend in average capital values in the last quarter, the housing hubs of Golf Course Extension, Sohna Road and South City 1 and 2 have remained upbeat majorly due to the strategic location and developed social infrastructure of these localities. However, it will be interesting to see if these localities continue to garner interest of homebuyers in the coming quarters.