Ashwani Kumar, Pyramid Infratech explains how infrastructural upgrades are boosting the realty market in emerging areas.
Infrastructure has always been the catalyst behind real estate’s growth. Over the years, the National Capital Region has positioned itself as a hotbed for infrastructural marvels that not only ease accessibility and connectivity but also boost real estate development in the vicinity. Strategically positioned Millenium City – Gurugram is boasting a distinctive blend of elements that entice buyers and investors. The city is witnessing rapid growth supported by robust infrastructure development initiatives.
Furthermore, with several proposed infrastructure developments, the city is witnessing a spike in demand for residential and commercial properties and redefining the urban and business landscape of the region. Gurugram’s excellent connectivity via roads and metro invites real estate development in the region. The city’s adjacency to the Delhi-Mumbai Industrial Corridor (DMIC) brings an influx of employment opportunities and enhances the city’s appeal. The Kundli-Manesar-Palwal Expressway further enhances connectivity, giving commuters easy access within Gurugram and beyond. Another infrastructural marvel is the Delhi-Gurgaon Expressway, which has further improved the connectivity between the two cities and substantially reduced travel time, offering a hassle-free travel experience. This accessibility strengthens the real estate growth of the region, allowing developers to curate projects catering to the discerning tastes of homebuyers. The ease of travel of the region’s infrastructure reassures potential buyers about the accessibility and convenience of the region.
Additionally, the 29km long Dwarka Expressway stands as a beacon of connectivity, connecting Gurugram and Delhi-NCR and providing easy access to IGI Airport. This arterial route also connects Gurugram to various business hubs, making it a coveted destination for professionals seeking residential properties in the region with strong connectivity. Further, the extension of the proposed metro connectivity to Gurugram has significantly improved connectivity within the city and with other parts of the National Capital Region (NCR).
Moreover, the Southern Peripheral Road is rapidly emerging as an ideal choice for buyers and investors. The 16 km long SPR road is the newest and sought-after destination, boosting the realty growth of the region. With its connectivity to Manesar and South Delhi, the region along the SPR road boasts luxurious living spaces, thriving retail spaces, and commercial complexes, bringing an upsurge in real estate demands. The latest report by Cushman and Wakefield Q1 2024 also highlights how the corridor witnessed 3614 unit launches during this time, with the luxury segment accounting for 61% of the share. This surge brings more demand for residential properties in the region and the sectors in the vicinity. The report also highlights a positive outlook for the residential segment in Gurugram, primarily focused on SPR and NH-8. This growing demand underscores potential buyers’ urgency and importance in acting swiftly in this thriving real estate market. The evolving and new pockets like sec-71 along the SPR corridor are witnessing healthy realty growth and emerging as the preferred realty destination.
The development doesn’t end here! Construction of 3.4 km master road, connecting Naurangpur with Southern Peripheral Road through sectors 77, 78, and 79, is nearing completion. Another latest entrant to the real estate scene is the 46 km-long Gurugram-Pataudi-Rewari highway in Haryana. The highway will connect Hero Honda Chowk in Gurugram with Rewari via Pataudi and is slated to revolutionize connectivity between significant hubs and transform the real estate landscape in the region. Thus, improved connectivity enhances accessibility and makes the area flourish with residential, commercial, and industrial developments.
Hence, the overall infrastructural developments are pushing the demand for more residential, commercial, and industrial developments in the city. With an increasing number of people choosing Gurugram as their home, the well-planned infra developments make Gurugram an appealing choice for a serene yet convenient lifestyle.
Source : Construction Week Online
