New Gurgaon: An Emerging Residential and Commercial Hotspot in NCR

New Gurgaon An Emerging Residential and Commercial Hotspot in NCR

With the Gurgaon region nearing saturation, the focus is now shifting towards New Gurgaon that has emerged as a vibrant hotspot of residential and commercial activities.

Bolstered by strategic location and rapid infrastructural developments, Gurgaon has emerged as a sought-after destination for Fortune 500 multinational companies and IT firms. The region is home to several business districts characterized by integrated developments encompassing workplaces, retail spaces, food and beverage outlets and entertainment options.

With this region nearing saturation, the focus is now shifting towards New Gurgaon that has emerged as a vibrant hotspot of residential and commercial activities. Excellent connectivity and a spate of infrastructural developments have led to the emergence of several industrial hubs in the vicinity of New Gurgaon, such as Manesar, Neemrana, Bawal, Dharuhera and Bhiwadi on one hand, and Cyber City, Sohna Road, Udyog Vihar on the other.

The rise of office spaces has invariably strengthened social infrastructure in the vicinity, including schools and higher educational institutions, banking and financial companies, commercial and retail spaces, restaurants and food and beverage outlets, entertainment and recreation spaces and much more. The area is home to leading firms such as Grey Orange, TCS, American Express, and many more. Leading brands such as HDFC, ICICI, KFC Sodhi’s and The Body Shop, etc have sprung up in the region. Moreover, Big Bazaar, Decathlon and Cinepolis are expected to make inroads into the region soon.

The untapped potential of New Gurgaon has prompted several real estate developers to foray into the region. The state-of-art office spaces combining retail, entertainment, food and beverage amenities under one roof are the hallmark of their realty offerings.

Prominent among the developers betting big on New Gurgaon is DLF. The developer has approximately 300 acres of land in this region. It has ambitious plans for the development of over 25 million sq. ft of area in the future. Its marquee offering – DLF Corporate Greens – is redefining the landscape through best-in-class amenities and enhanced customer experience. A recent deal between DLF and American Express, worth Rs 300 crore for nine acres of land – is a testimony to the tremendous potential of the region.

“The Millennium city Gurugram has surfaced as a template for future cities and not just a real estate hub. As a bold and future-focused city and having a strategic location which facilitated excellent connectivity, it is asserted as India’s newest hub for corporates to establish their headquarters, which includes most of India’s Fortune 500 companies. In the last decade, Gurugram’s soaring success has given way to emergence of New Gurgaon, as the new nerve centre and the sub-business district of Gurugram. IT and Manufacturing companies have reasonably dominated this region leading to an explosion of residential hubs around these commercial developments, gentrifying the changing landscape,” says Karan Kumar, CMO, DLF Ltd.

“Located strategically between Manesar and Gurgaon, the area not just enjoys seamless connectivity to New Delhi and other peripheral areas, but its planned infrastructure and availability of housing options across categories make New Gurgaon a preferred location for many. The increase in demand and the rise in ‘walk to work’ culture have led to leading commercial and retail brands settling in this area, making it the upcoming commercial hub of NCR,” adds Kumar.

Plaza at 106 by VIRIDIAN RED is located at a prime location of Dwarka Expressway in sector 106 Gurgaon. According to industry experts, the project is an ideal amalgamation of multi-utility studio, retail and commercial spaces.

Vatika Group and Elan Group are also among the dominant players in the region. Vatika Group houses all its verticals occupying 1 lakh sq. ft. campus-style office in the 1 million sq. ft. of ready-to-move-in commercial and retail space INXT. Elan has come up with offerings such as Elan Mercado – a three acre-integrated development with a mix of High-Street Retail, Foodcourt, Multiplex & Luxury Serviced Residences in Sector 80, New Gurgaon.

Vineet Taing, President, Vatika Business Centre, says, “With diversified industries not limited to hospitality, healthcare, retail, banking, education, and many others joining the bandwagon, makes it more attractive for potential investors. Vatika Group, which holds the largest chunk of real estate offerings here in New Gurugram, has also relocated all its verticals occupying 1 lakh sq. ft., campus-style, office which is a part of 1 million sq. ft. of ready-to-move-in commercial and retail space INXT has in the offering, in lines with its vision to be a part of New Gurugram’s growth story. We would soon be launching our Business Centres, Managed Office Spaces and Sub-leased fitted-out spaces in Vatika INXT.”

The commissioning of the Delhi-Mumbai Industrial Corridor and Dedicated Freight Corridor will open new vistas of opportunities and unlock the economic potential of New Gurgaon. Moreover, next-generation mobility systems such as Regional Rapid Transit System (RRTS) and Delhi-Faridabad Metro Rail Link will enhance connectivity, thereby attracting several more companies to establish their base here.

According to industry experts, amid infrastructural developments and increased developers’ interest, New Gurgaon’s commercial boom is here to stay, fuelling residential developments and transforming it into a prominent nerve centre and the sub-business district of Gurugram on the lines of DLF Cybercity.

Source : Financial Express

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