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  • New Gurgaon: An emerging residential and commercial realty destination

    New Gurgaon 600x386

    Photo Courtesy: Internet

    The city is well-connected to three major highways, has a good number of affordable properties and future growth prospects

    New Gurgaon is fast emerging as a realty destination in the NCR as the city is beautifully stoked by commercial as well as the residential properties. Although delay in the completion of Dwarka Expressway has resulted in the slowdown of the work, this has not affected much to the development of the area.

    “Sectors close to the national highway are registering good movement. People working in the offices located at National Highway Toll Plaza prefer this area due to the proximity to their office location. Affordability is also one factor that is driving demand in this area. Social amenities like local markets, schools, etc are developing fast with families living in this newly developed area,” says Surabhi Arora, Senior Associate Director (Research) at Colliers International India.

    New Gurgaon is well-connected to three major highways which are National Highway 8 (NH8), Kundli–Manesar–Palwal Expressway and Dwarka-Gurgaon Expressway, which makes this place an ideal destination for commercial as well as residential.

    Many developers have their projects here that have delivered or are to deliver their projects in this area.

    Hariender Dhillon, VP (sales) at DLF, says: “New Gurgaon has emerged as a preferred choice in the Delhi NCR for buyers in the last few years. The area is strategically located between Manesar, Gurugram and Delhi with direct connectivity to NH-8. The spate of recent infrastructure developments in the area like Southern Peripheral Road (SPR), Dwarka Expressway, and Kundli-Manesar-Palwal Expressway, once complete, will bolster connectivity. With significant habitation even today, the occupancy rates in the zones are expected to increase rapidly with the new infrastructure developments fully in place.”

    The city has a number of good educational intuitional which is helping the population in around the area to swell properly.

    "There is an increasing demand for office spaces which has led to the growth of business centres, virtual offices, as well as co-working spaces. Speaking of Delhi NCR, New Gurugram region and Dwarka Expressway are set to boost both in terms of office spaces as well as retail."   - Vineet Taing, President, Vatika Business Centre 

     

    “A recent report by the real estate consultancy Knight Frank has identified New Gurgaon as one of the top 10 residential destinations in India, from an investment point of view, up to 2020. The region has many ready-to-move-in apartments and other social infrastructure, hence swelling its demand for the real estate sector,” Rahul Singla, Director of Mapsko Group says.

    Availability of all the above-mentioned factors in this city makes this place as the newest hotspot of realty destination

     

  • Real estate sector to make comeback

    Demonitization

    A cheerful moment could be there for real estate sector after a hope of more organized players will take the lead in the growth that leads more transparency and ease of doing business due to RERA and GST.

    Accepting the facts, one of the developers, Harinder Dhillon , Vice President Sales of DLF Ltd. appreciated RERA and GST for boosting buyers confidence, “The real estate sector is indeed back to its recovery path. The markets of corrections in some popular housing sectors of Gurgaon and Noida and the sales value have increased in these markets in the wake of these price corrections.”

    “Also legislation like GST and RERA has boosted the buyers’ confidence. With more clarity coming in on GST, sales are expected to improve further in the months to come.”

    The developers also said that increase in confidence of buyers’ has backed the demolished market of realty sector.

    It is noticed that the property sales are believed to be boosting up due to buyers are getting better deals in the market. "The implementation of various reforms has boosted buyer confidence. Also, in the current market situation homebuyers are in a better position to negotiate and grab better deals, leading to improvement in sales," Ravish Kapoor, director of Elan Group, said.

    "During the past one year or so real estate has seen reforms like demonetization, GST and RERA. The realty market however,absorbed all reforms, which gavemuch confidence to home buyers. Now the sector is showing signs of recovery Clip Image001with sales improving in the wake of Correction in property prices. Both mid- and affordable housing segments are registering improvements in sales. Hopefully, it is only a matter of a few quarters for the market to be back on track," Gaurav Mittal, MD of CHD Developers, said.

    Experts in the industry say that residential property market is gradually getting back to track but a lot of suppressed sentiment dynamics are still at play and the overly adventurous pricing developers indulged in over the past few years have had a part in this.

    Anuj Puri, chairman of ANAROCK Property Consultants, also stood beside demonetisation, saying that it has been one of the prime reasons for the upliftment of the market, "If all the other fundamentals for a purchase decision such as good location, the credibility of the builder, available amenities, overall rational pricing, and RERA registration buyers feel confident to respond to the added incentives of discounts. Also, what is currently selling is affordable and mid-income housing in the primary sales segment Premium housing, as well as the resale market, took a big hit after demonetisation because they were traditionally targets for unaccounted funds. While the overall market is recovering, premium housing is taking longer to recuperate.”