DELHI: Real estate development along Gurgaon-Faridabad Road, which further connects to Ballabhgarh-Sohna Road, is in a boom phase. The scenic view of the Aravali hills and the valleys offered by the residential and hotel projects under construction in this area has ramped up the demand in this area. Already, this developing zone has a 9-hole golf course. The prevailing rate of housing projects here is in the range of Rs 7,500-10,500 per sq ft.
Gurgaon-Faridabad Road is shaping up as a prime location for real estate development with fast connectivity and improving infrastructure. Projects like Valley View by Ansal API, Ninaniya’s hotel project, IREO Group’s Gurgaon Hills, Krrish Group’s Province Estate, Paras’s Trade Centre, etc, have already been launched on this road.
Ansal API is the first developer which has delivered a realty project in Sector 1 along the stretch. With rise in demand, a numbers of group-housing units, hotels, malls, and entertainment projects have been announced here. Also, 200 acres has been earmarked for an SEZ (special economic zone) near Gwal Pahadi along Gurgaon-Faridabad Road.
Real estate scenario
This developing realty region is proving to be a good residential location owing to its excellent connectivity with Noida, Ghaziabad, Gurgaon, and South Delhi. The master plan of the area envisages a future Metro line, provision for wider roads, parks, along with a good combination of commercial and residential mix of projects.
Huda (Haryana Urban Development Authority), the developing authority, has started acquiring land for new sector roads and is developing them simultaneously.
In addition, the old, rickety sector roads are being revamped to the standards of the national highways. To ensure smooth traffic, the authorities concerned have started constructing slip roads at points that usually report massive traffic snarls during peak hours. This stretch is also in the middle of local tourist spots likes Surajkund, Damdama Lake, Sultanpur Bird Sanctuary and the Sohna Tourist Complex.
Ansal API’s Valley View Estate is a popular residential development in Sector 1, on Gurgaon-Faridabad Road, was handed over for possession in 2008. It has 14 towers, lavishly designed, over 23 acres. The project has modern amenities like gardens, a swimming pool, play area, 24×7 backup, intercom, a clubhouse, a gymnasium, a community hall, maintenance staff, security, etc.
Gurgaon-based Ninaniya (now executing its project under Ninaniya Estates Limited) is coming up with an integrated d eve l o p m e n t , Prism, comprising an upscale four-star hotel, executive suites, and a commercial complex. Most of the realty projects under construction are opposite Golf Course on the Gurgaon-Faridabad Road and close to the Aravali. Although Gurgaon-Faridabad Road lies on one of the prominent industrial belts, commercial and residential development has been coming to the area in a gradual manner, primarily because of regulatory issues.
Why Gurgaon-Faridabad Road
This stretch connects the economic centres of neighbouring states like Haryana, Rajasthan, Delhi, and Uttar Pradesh. This road also connects tourist spots like Surajkund, Damdama Lake, the Tourist Complex in Sohna, the Bird Sanctuary in Sultanpur, Agra, Jaipur and other historical places of Rajasthan and Uttar Pradesh.
Tourists coming from T3 airport or from Jaipur will also find Gurgaon-Faridabad Road highly convenient and time-saving for reaching tourist spots like Agra, Mathura, Vrindavan, etc.
Anuj Puri, director of Puri Construction, says: “The upward trend in Gurgaon market is due to the development of new Gurgaon sectors and newer areas along Dwarka-Gurgaon Expressway and 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 local authorities like Huda in developing quality infrastructure here has boosted the real estate market in Gurgaon and facilitated growth in new areas.”
The Gurgaon market is having a significant fresh room and retail outlet supply in the mid-market and also in the luxury apartments and premium hotel segments. Considering all these, developing the area along Gurgaon-Faridabad Road is seems to be a good choice for promoters and developers.
Manish Agarwal, MD of Satya Group, says: “The realty market of Gurgaon-Faridabad Road has a lot of scope for future development. The area is now one of the most sought-after real estate destinations in the NCR. This is more so because Gurgaon has now become an independent micromarket, as most hotels are concentrating on capturing demand generated by the local businesses in Gurgaon and Manesar. Although the size of the proposed commercial development on Gurgaon-Faridabad Road is large, the prospects for the hotel projects (that primarily aim to target the business clientele) however continue to be uncertain, as these are linked to commercial developments in the vicinity.”
Improving road infrastructure
The Gurgaon-Faridabad Road has been built by Reliance Infrastructure Limited. The road was built at a cost of Rs 800 crore. The 66km-long Gurgaon-Faridabad corridor includes Gurgaon-Faridabad Road, Ballabhgarh-Sohna Road, Pali Bakri Road, and Surajkund Road. The 25km Gurgaon-Faridabad stretch, starting from Gurgaon’s Mehrauli Road in Sikanderpur and ending at the junction of Pali Bhakri
Road in Faridabad, has been built by widening the exiting two-lane road to four lanes. A 6km Municipal Corporation of Faridabad (MCF) road to Surajkund and a 3km Crusher Zone road was also constructed for the benefit of commuters. Gurgaon-Faridabad Road starts from Gurgaon’s Mehrauli Road, about 2km west of Delhi’s border at Sikanderpur, and ends at its junction with Pali Bhakri Road.
The length of this stretch is 25km. The 3km Crusher Zone Road is also included in this project road. The widening and construction of Gurgaon-Faridabad Road into four lanes has brought down the travel time on this stretch to about 30-40 minutes. Commuters can cover the entire Gurgaon-Faridabad-Ballabhgarh-Sohna stretch in less than two hours now. Earlier, the same distance used to take almost five hours.
With the opening of Gurgaon-Faridabad Road, residents of Faridabad can now easily reach the IGI airport. Commuters travelling from Faridabad to the IGI airport (Terminal T3) will reduce their travel time by more than 60% and save almost 40% on their fuel cost. One report estimates that the traffic on this corridor will register approximately 36,000 vehicles per day. The traffic density is expected to double in next five years, growing at 8% every year.