There are 5 major areas in Gurgaon that have the potential to develop infrastructure and, consequently, estimate future prices for investment purposes. Here, I would like to mention a couple of areas which may reflect an increase in property rates in Gurgoan
Golf Course Road
Prices here usually start from Rs. 15000/- per square foot. It’s a favourite address for the rich and famous people who chose an address in Gurgaon instead of Delhi but enjoy an elite lifestyle. Well connected to South Delhi, the Cybercity business districts, MG Road of Gurgaon and shopping centres such as MGF Metropolitan and Ambience Mall, the DLF golf course also attracts international players. Over time, the road expanded and the metro line extended to sector 55-56. All known Golf Course Road office centres are here, and the Electronic City is just a 15-minute drive through the newly built underground lanes. Most famous schools in Gurgaon are nearby. Property rates in Gurgaon have risen exponentially.
Extended Golf Course
It is now good to drive and you will see additional infrastructure improvements when metro lines are added here. The application fee is generally higher than Rs. 8000/- per square foot up to 13500/- for luxury projects. Real estate companies like IREO (with IREO City), Emaar, M3M and Ansals have a presence here. The area covers sectors 58 to 67 in Gurgaon.
Dwarka Highway (Northern Peripheral Road, NPR)
Prices per square foot on Dwarka Highway starts at Rs. 6000. The alternative 18-kilometre link between Gurgaon and Delhi (Dwarka) will not only facilitate traffic on National Highway 8 but will also include large urban agglomerations along this route. Property rates in Gurgaon, specifically in this area is expected to rise in the coming future. NPR extends from sectors 82 to 115, all of which are currently under development. There are companies like Godrej, Sobha, Tata, Raheja, and other active companies here.
Southern Peripheral Road (SPR)
SPR has slightly low rates of about 7,000 per square foot because infrastructures in most parts are under development. The South Peripheral Road will connect the coastal road and extension road to National Highway 8 just before the Kherki Daula Toll Square. The developing sectors on this route are Sector 69 to 76.
Prices here range from Rs. 4000/- per square foot for newly launched projects, to about 6000/- for outstanding projects. This is a very old connection between Gurgaon and Sohna town. The builders of the Sohna Market named it as South Gurgaon, which is 30-40% cheaper than nearby markets within Gurgaon in real estate prices.
While the real estate market in Gurgaon remains weak, no one knows that infrastructure is the backbone of real estate development. With the expansion of the Old City, these real estate markets can work well as long as the markets find a fund.