Dotted by towering skyscrapers, plush malls, tech-enabled office spaces, top-notch entertainment and recreation options, Gurgaon has rightfully earned the distinction of the Millennium City. Over the years, it has emerged as the new business capital and the hub for next-generation startups. It indeed is looked upon as the epitome of commercial development, especially in the National Capital Region (NCR).
Gurugram, as it has been rechristened for being the abode of Guru Dronacharya in Mahabharat, has witnessed a dramatic urban transformation in the past few decades, becoming one of the leading growth corridors on the world map. The success of Gurugram resulted in growth of adjoining areas, New Gurgaon in particular.
New Gurgaon is characterized by a cosmopolitan population, state-of-the-art office spaces, integrated retail and entertainment spaces and much more. Riding on the twin waves of the strategic location and planned infrastructural development, New Gurgaon is the most promising commercial and industrial hub that will add a new dimension to the Indian realty sector. This area can be further divided into two main clusters along the Dwarka Expressway – Sectors 102 to 113 and Sectors 76 to 95 & 95A.
With excellent connectivity to Delhi on the one side and Manesar (Haryana) and Neemrana (Rajasthan), major commercial hubs, on the other, it is also accessible to prominent landmarks such as Indira Gandhi International Airport, New Delhi Railway Station and the Huda City Center Metro Station. The Kundli- Manesar- Palwal (KMP) Expressway and the Southern Peripheral Road (SPR) have emerged as two major nerve centres of connectivity. The KMP Expressway has eased decongestion by serving as an alternative link between the northern and western as well as the southern parts of India. Meanwhile, SPR has bolstered connectivity in New Gurgaon by connecting to the Golf Course Extension Road, Gurgaon-Sohna Road, NH-4 and the Dwarka Expressway through National Peripheral Road (NPR).
The large-scale projects such as the Delhi-Mumbai Industrial Corridor and Dedicated Freight Corridor will herald a dramatic transformation of the region and entail a multiplier effect in terms of enhanced connectivity, industrial development, employment generation, real estate development, thereby augmenting the contribution to Haryana’s GDP.
New Gurgaon is also witnessing infrastructural developments at a very fast pace. The opening of the Dwarka Expressway will connect Dwarka with NH48 and ease traffic congestion on the Delhi-Gurgaon Expressway. Moreover, the proposed Greater SPR Road linking IMT Manesar to South Delhi will be a shot in the arm for connectivity and reduce the travel time by 30 minutes. Furthermore, GMDA’s plans to turn SPR into an arterial road under the New Gurgaon-Sohna Master Plan 2031 through metro connectivity and the link to the Gurgaon-Faridabad Road will open floodgates of economic opportunities and propel the region onto a higher growth trajectory. The development of a new industrial township and 6 sub-cities along the KMP Expressway will further fuel commercial development and accelerate real estate growth in the region.
The government of Haryana is also undertaking infrastructural up-gradation and improvement at a rapid pace in New Gurgaon. These initiatives include the revamping of SPR, shifting of the Kherki Daula toll plaza and the opening of a cloverleaf interchange at the intersection of Central Peripheral Road (CPR) and Southern Peripheral Road. All these initiatives will play an instrumental role in facilitating a seamless movement of traffic in New Gurgaon, further enhancing its liveability and prospects as a real estate hub.
The mobility landscape in New Gurgaon is also witnessing a rapid change. Proposed next-generation mobility systems such as Regional Rapid Transit System (RRTS), Gurgaon-Manesar-Bawal Mass Rapid Transit System (MRTS), the Orbital Rail alongside the Kundli-Manesar Expressway, Delhi-Faridabad Metro Rail Link and the ISBT will aid decongestion, reduce carbon footprints, make travel convenient and hassle-free and enrich the development story.
These infrastructural developments are being accompanied by the strengthening of social infrastructure with the rising number of schools and higher educational institutions, banking and financial institutions, commercial and retail spaces, restaurants and food and beverage outlets, entertainment, and recreation spaces, among others. A robust social infrastructure combined with availability of huge open green spaces, and walking areas within residential projects, enable a holistic living. A lot of families living in different parts of Delhi NCR for generations are now considering New Gurugram as preferred choice to invest in for end usage. As a result, today, New Gurugram is home to some of the finest residential offerings in NCR with state-of-the-art facilities, amenities and experiences that a well-travelled millennial years for.
With proximity to industrial hubs of Manesar, Neemrana, Bawal, Dharuhera and Bhiwadi on one hand and Cyber Hub, Sohna Road, Udyog Vihar on the other, New Gurgaon is home to burgeoning millennial population, including UHNIs, HNIs, expatriates and corporate professionals. It is a sought-after residential address owing to its strategic location, planned infrastructure and the presence of vast swathes of green and open spaces. Amid ‘the walk to work’ concept gaining currency, corporate professionals are increasingly choosing New Gurgaon for owing their dream home. Taking a cue from the buyers’ overwhelming response, real estate developers are increasingly vying on New Gurgaon and undertaking unique innovations to attract and build a loyal customer base. The COVID-19 has invariably refined the focus towards organized players with an excellent track record who embody customer-centricity as their core philosophy.
With health and wellness becoming paramount concerns, integrated and gated townships in New Gurgaon characterized by customized residential offerings with state-of-art amenities, robust facility management and superior customer experience are witnessing increasing traction from buyers. These properties exemplify meticulous planning and are uniquely tailored to customers’ tastes and preferences. Best-in-class amenities, tranquil living amid verdant greenery and a blend of privacy and community are the hallmarks of these properties.
A combination of robust infrastructure, the presence of commercial and retail spaces has positioned New Gurgaon as a prominent real estate hub. The prospects of economic growth due to proposed infrastructure projects and favorable policy landscape augur well for New Gurgaon to write a new chapter in the history of Indian real estate.
Source : Financial Express