The New Golf Course Extension region, which stretches from sector 68 to sector 79 in Gurgaon, is a new favorite of homebuyers, investors, and developers in the millennial city. Established localities such as Golf Course Road and the extension road (sec 55/ 56 to 67) have seen property prices soar in recent quarters.
Meanwhile, there is a tremendous shift in focus on the emerging sectors of New Extension Road. There are multiple factors that are giving the buying boost and resulting in accelerated growth in the market.
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Dotted with Lush Greeneries: The entire region is dotted with lush greenery, thick green hilltops of the Aravalli ranges, and a relatively calm & serene environment. It makes the region calmer and greener in contrast to the other parts of the NCR. Owning a home in the area means viewing the beautiful Aravali ranges and staying close to nature, something which is not common in NCR. The picturesque leopard trail is also situated in the vicinity, which is a favorite sport for cycling, jogging, picnics, and weekend gateways.An evolving Commercial Hub: The region is gradually emerging as a vibrant commercial hub with new office complexes, malls, shopping centers, SCOs, arcades, etc. There are plenty of well-recognized commercial complexes such as Corner Walk, Privie, IFC, Broadway, etc. Soon it is expected that numerous MNCs, IT & ITeS, BFSI ventures, and start-ups will move into the region, which will further drive the housing demand. A large number of commercial complexes will also entail growth in modern retail.Ample Social Infrastructure across NH-8: The social infrastructure in the interior region is still limited with a dearth of good schools, colleges, and healthcare facilities. However, the social infrastructure is much better around the NH-8 with plenty of educational institutes & hospitals, etc. The NH-8 is at an approachable distance of 2- 3 km from the interiors of the region. The connectivity has further improved in the face of the internal roadways. With time, as the population will grow, the social infrastructure in the form of more schools, colleges, healthcare, etc. will further pick up.Closely linked to the DMIC: The new extension region is closely linked to the Delhi Mumbai Industrial Corridor and the Delhi-Mumbai expressway via the NH-8. This will greatly benefit the real estate in the region. Around 160 km of the 1400 km long Delhi-Mumbai Expressway falls in the Haryana state. The DMIC industrial corridor, which is also touted as one of the largest infrastructure projects in India will naturally spur investment activities in the new extension region. The mega project will result in the unfolding of new office spaces, industrial & logistics parks, mixed realty projects, warehouses, and much more.
As the market optimism rises, investment activities will move up sharply. This will be followed by price appreciation, thereby further boosting investor confidence.
(By Amit Sharma, National Head – Franchise, 360 Realtors. Views are personal)
