Removal of the toll plaza, might hike Gurgaon Expressway property rates
Feb 25, 2014
Source : The Times of India

 

DELHI: After the removal of the toll plaza, Gurgaon seems to have brought more than traffic to speed. According to real estate experts, dealers and builders, there is already increased activity in the real estate market and prices in Gurgaon could see an increase of about 10 to 20%.

“With the toll gone, Gurgaon has come closer to Delhi. From the investing and living point of view, Gurgaon properties are set to benefit from the toll removal and the impact is already showing,” said Sanjay Khetarpal of Arambh properties.

Aakash Ohri, executive director, business development, DLF Home Developers, said: “The removal of the toll plaza is a major relief for daily commuters between Delhi and Gurgaon. This development not only enhances connectivity and ensures a hassle-free commute, it also adds to Gurgaon’s existing infrastructure. Faster connectivity between Delhi and Gurgaon will also have a positive impact on the real estate market in Gurgaon, an area that has emerged as a global development hub with a great scope for future growth.”

The areas which would directly benefit from the removal of the toll are Ambience Island, DLF Phase III, DLF Phase II and Udyog Vihar. “These areas, which are closest to Delhi, would now be seen as Delhi’s extension. Prices would increase and so would the demand,” said Avinash Piplani, a real estate expert.

“We are also going to notice how the relevance of Udyog Vihar as a commercial destination is going to increase. Going to work in Udyog Vihar was a difficult proposition but now, with the toll gone, setting up offices there would make sense. We are expecting an increase in prices of at least 10 to 20% in most Gurgaon properties,” said Ajay Midha of Ray White, a property dealer.

“Many dead property zones, which had shown no movement over the last few years, might just start showing positive results. We are expecting a positive response in buying, selling, investing and re-investing in all those inventories that were stagnant over the last year or more,” said Sanjay Khetarpal.

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