Good returns drive residential market of Golf Course Extension Road
May 15, 2014
Source : The Times of India


DELHI: Golf Course Extension Road has been developing as a premier lifestyle destination for residential and commercial property owing to fast-paced infrastructural development and good connectivity to NH-8 and South Delhi through Gurgaon-Faridabad Expressway.

Developers like DLF, Unitech, Ansal API, Ireo, Vatika, JMD, Ansal Housing, EMAAR MGF, M3M, Omaxe, etc, are partnering with international players to design exclusive apartments and condominium space keeping this trend in mind.

Comparatively a new locality, this developing stretch has made a difference in a very short span of time with the real estate scenario on this stretch rising to the challenge in meeting the expectations of the New Age globe-trotting Indians.

A number of green-rated townships and group-housing projects have been planned on this long stretch that directly connects to the main Gurgaon-Sohna Road.

Many of the projects on Golf Course Extension Road blend seamlessly with the golf course with each apartment in the golfthemed projects commanding a grand view of the golf course. A realty watcher here says the clubhouse facility adjoining the golf course would come with world-class features like spas, gymnasium, restaurants, cigar lounge, tennis courts, swimming pools-even an art gallery.

Experts say investments in properties on Golf Course Extension Road have seen handsome returns. The USPs of this developing area and the realty projects on this stretch are good connectivity, excellent location, green-rated housing projects like villas, plots, group-housing projects with golf courses and modern clubhouses.

A report says that Golf Course Extension Road is seeing a greater influx of end-user demand, in contrast to the previous trend of investment-driven purchases. The sale of luxury and ultra luxury projects has seen an uptik of around 30% in the last few years, with luxury homes coming on this long stretch registering demand and value appreciation from end users and foreigners.

Luxury apartments in this area are quoting in the range of Rs 1.5-15 crore with no end in sight to the rise in demand. On average, the rates of these luxury apartments vary from Rs 6,000 to Rs 15,000 per sq ft, depending upon the services offered and the location.

The main objective of green projects being developed by private developers is to create energy-efficient, water-efficient, comfortable, healthy, and environmentally-friendly buildings and homes.

According to the new master plan of the area, Sectors 58 to 67 will be developed in the first phase. These sectors will have 60-metre-wide roads. All roads in the planned sectors will be interconnected, unlike the existing sector roads that end abruptly.
For inter-connectivity, six controlled areas have to be added under the new master plan. There is also a plan to start a city metro train-to be run by private players-for local commuters within Gurgaon.

With a view to avoiding encroachments beyond the connecting road, Huda (Haryana Urban Development Authority) has decided to develop a 50-metrewide green belt along the road and earmark a 200-metre-wide strip as an institutional belt.

Most of the infrastructural development took place in this stretch in the recent past. Most of the developmental activities can be seen in the new areas like Sectors 55, 56, 61, 62, 65, 66, 67, etc.

Most of the sectoral roads are almost complete in these areas. Now, green belts are coming up in the road verges making the area more eco-friendly. In the new plan, special attention has been given to security, healthcare, and education while preparing the layout plan of the new sectors.

Commercial development

Golf Course Extension Road has seen good demand for state-of-the-art commercial properties too. Many top-notch developers like DLF, Unitech, Ansal Group, Vatika, Vipul, Vipul, Hines, Paras, etc, have come up with world-class commercial projects here.

Projects like Global Business Foyer, Paras Twin Towers, Suncity Business Park, Ninex Time Tower, and Veritas have already been handed over for possession.

The availability of commercial space has increased by nearly 30% after the addition of these projects.

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