Gurgaon popularly known as the Millennium City lies at around 35 kms from Delhi. The city is one of the most cosmopolitan cities in India and the hub of many manufacturing, IT and BPO's companies. Leading Indian Automobile manufacturer Maruti Suzuki India Ltd had set up a manufacturing plant in Gurgaon in 1970 following which the city witnessed tremendous growth. The business of real estate has escalated by leaps and bounds in Gurgaon, thereby leading to a rapid growth in ongoing projects in Gurgaon.
Gurgaon is primarily investor driven market, factors like proximity to Delhi (through Delhi-Gurgaon Express way) and International Airport, availability of land parcels, employment opportunities, industrial development, favorable tax policies have set a clear trail for growth of real estate business. It is all well connected to other parts of NCR through NH-8, Sohna Road, Golf Course Extension Road and Faridabad Link Road. Gurgaon’s residential real estate market caters to all the segments of the target audiences as it offers properties ranging from 1BHK, 2BHK, 3BHK, 4BHK as well as luxury villas and penthouses.
Under construction residential projects in Gurgaon on the southern peripheral road connecting to NH-8 have seen a extraordinary appreciation over past few months due to enhanced connectivity to Manesar and Dwarka. NH8, which is a part of Golden Quadrilateral and connects the city to other important cities like Jaipur, Udaipur, Ahmedabad, Vadodra as well as other parts of the country. The area has also witnessed an increase in the number of under construction commercial projects in Gurgaon.
Dwarka Express Way, is also turning into hot destination with a number of under construction Projects in Gurgaon coming up in the area. The expressway connects Dwarka with NH-8 and is also known as the Northern Peripheral Expressway. Dwarka and Palam will have a new link connecting Dwarka with Gurgaon by an eight lane expressway connecting Palam Vihar and the planned SEZ’s in Gurgaon to join NH-8. Once this project is over, the area will become the hottest real estate zone n Gurgaon. Some of the ongoing projects in Gurgaon are here by renowned developers like Vatika, Ansal Housing, Godrej, Satya and TATA Housing.
Another site which is witnessing high growth rate in construction business is Golf Course Extension as it lies close to Delhi Mumbai Industrial Corridor (DMIC). Some of the under construction residential projects in Gurgaon here are by M3M, DLF and Ireo.
Gurgaon Pataudi Road is also coming up as potential real estate hub because of its proximity to completed and proposed transport links. Other projects on Sohna Road include M3M, Supertech and New Gurgaon includes Orris, Sare and Lotus Greens and Unitech. The area has lot of under construction residential projects in Gurgaon as well as under construction commercial projects in Gurgaon which are expected to give exceptional returns in the coming years.
Some of the Under construction Projects in Gurgaon are by leading developers Eldaco Accolade in Sohna, Ninex Group in sec 37 C, Sun City Projects Pvt Ltd in Sector 102, Mahindra Lifespace Developers in Sector 59, Puri Construction Private Ltd in Sector 104, Vipul Limited in Sector 48, Vatika Group in sector 83 and Signature Builders Pvt Ltd in Sector 103. On Dwarka Express way there are Under Construction Commercial Projects in Gurgaon by Satya, Spaze and Ansal Housing. Ongoing Gurgaon projects are by Orris, Ameya, KLJ Ansal Housing, Spaze, Ninaniya Estates, Raheja Developers in New Gurgaon. Galaxy Monnett, M3M, Emaar MGF and BAANI have ongoing Gurgaon projects on Golf Course Extension Road.
Gurgaon is the second largest contributor to the NCR’s residential market and the micro market holds 24% of the under construction units. The Millennium city is expected to house around 2,500 multi storey towers by year 2018 taking the real estate business to another level.
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