Improving infrastructure and the
remarkable connectivity on Gurgaon-Faridabad Road is poised to make this place
the next realty destination, experts say. Residential and commercial projects
have already been launched on this road. Keeping in mind the future
developments in the area, the authorities have earmarked land for an SEZ
(special economic zone) on nearly 200 acres.
Realty experts are optimistic
that areas along Gurgaon-Faridabad Road will soon have a spurt in the real
estate development with many developers focussing their attention upon this
roadway. “The significant factors that have attracted developers to this area
are its strategic location, up-gradation in connectivity, planned highways,
integrated townships by real estate companies, and the
presence of MNCs; also, it is interlinked with all leading business and
residential hubs. To accommodate the housing needs of professionals, the
stretch along the Gurgaon-Faridabad Road is being considered as one of the most
affordable realty zones in the near future,” Alimuddin Rafi Ahmed, the CMD of
ILD Group, says.
Neeraj Gulati, the MD of Assotech
Realty, says: “The Gurgaon-Faridabad stretch is gearing up as a promising
residential destination for the people of the NCR, after Noida and Greater Noida,
as this is a major industrial growth arena in the NCR, bordering Haryana.”
Devinder Gupta, the CMD of Century 21 DGS, says: “Gurgaon-Faridabad Road has
come a long way in terms of infrastructure and the magnitude of opportunities
it offers. With a proper plan for further infrastructural development, this
stretch holds tremendous potential for residential as well as retail growth.
Earlier, this road used to be a desolate singlelane pot-holed stretch. But,
today, the entire 25km stretch between Gurgaon and Faridabad is a modern
expressway, built and managed by the Reliance group. A number of residential
projects have come up here under the new Gurgaon master plan.”
The development of several residential
and commercial projects on this stretch has made the market very
competitive. Ravi Saund, the COO of CHD Developers Ltd, says: “Apart from a
proposal for SEZ of around 200 acres in this locality, hotels, malls,
entertainment and educational zones have been sprouting up along the periphery
of this road making the market here very competitive and lucrative. All these
factors coupled with better infrastructure have heightened the real
estate activity in the area.” Neeraj Gulati of Assotech Reality says:
“This stretch is also in the middle of local tourist spots likes Surajkund,
Damdama Lake, Sultanpur Bird Sanctuary and the Sohna Tourist Complex.
Therefore, Gurgaon-Faridabad Road has the potential of being a prime location
for real estate development.”
“The widening of
Gurgaon-Faridabad Road into four lanes has considerably improved the driving
experience of commuters. With the increase in average speed from 12km per hour
to nearly 60km per hour, the travelling time of commuters has been reduced by
40-50%. Now, commuters can cover the entire stretch from Gurgaon to Faridabad,
and Ballabhgarh to Sohna Road, in one hour and 30 minutes; earlier it used to
take upwards of four hours,” Sanjay Khanna, the director of Kailash Nath
Projects Pvt Ltd, says.
Nikhil Jain, the CEO of
Ramprastha Group, says: “The widening of this road has made it easily
accessible from Gurgaon as well as Faridabad; with a lot of scope for future
development, this stretch is now one of the most sought-after real estate
destinations in the NCR. Notable developers have either launched their projects
in this area or are planning to come up with projects soon.”
Ajay Agarwal, the director of
Avalon group, says: “The upward trend in Gurgaon market is due to the
development of new Gurgaon sectors and newer areas along the Dwarka-Gurgaon
Expressway and the Gurgaon-Faridabad Road. These areas have brought in a lot of
inventory and the projects are from good developers.” Also, the initiative of
the government and the authorities concerned in developing quality
infrastructure here has boosted the real estate market in Gurgaon and
facilitated growth in new areas.
There is a provision for superior
infrastructure with wider roads, Metro connectivity, parks, along with a good
combination of commercial and residential mix of projects in the new master
plan. Huda has started acquiring land for new sector roads and is developing
them simultaneously. In addition to this, the old, rickety sector roads are
being revamped keeping in mind the national highway standards. To ensure smooth
traffic, the authorities concerned have started constructing slip roads at
points that usually report massive traffic snarls during peak hours.
