The biggest worry of the real estate sector is, if the air begins to escape from
the housing and real estate bubbles? The possibility seemed like a reality- any
The strategy started with cutting clown the risk factors. And, not withstanding
the fear, gurgaon is on a roll. Gurgaon is one of the prime location in property
market. The recent master plan notified by the Haryana government has made it
sure. The plan has already generated intense interest in the property market,
which may further boost the real estate price.
The new master plan covers an area of 33,726 ha for an estimated population of
37 lakh compared to 9,881 ha in the old master plan. The increase in the area
is because of addition of 58 new sectors to the existing 57 sectors. The additional
sectors will be developed by 2021. Of the total area of 33,726 ha,14380 ha have
been earmarked for residential purposes,1199 ha for commercial, 7023 ha for industries
4,299 ha for transport and communications, 469 ha for public utilities, 2462 ha
fro open spaces,106 ha for special zone and 1,460 ha of land for special economic
zones (SEZs). Three additional roads would be connecting Gurgaon with Delhi. A
150 metre-wide road would connect DLF phase-3, Gurgaon with Delhi near vasant
kunj. Another road of 75 metre width would connect Palam vihar, Gurgaon with Dwarka,
Delhi. The 3 roads would connect DLF city, phase1, Gurgaon with Mehrauli, Delhi.
Besides additional road connectivity, the metro train will connect Mehrauli. Delhi
with IFFCO crossing, Gurgaon.
A buffer zone has been planned in Gurgaon. It would be between the industrial
zone and the other zone. Around half km wide and 13km in length, the buffer zone
starts from the railway line near Dhanawas village and ends near Sikhopur village
crossing National Highway No.8. In the new plan the open space has been increased
from the existing 2.3% to 7%.
As the real state boom started from Gurgaon. for some time now very few group
housing projects were launched in Gurgaon all the lard earmarked in the previous
master plan had been exhausted. So, developers had to move to tier-3 cities like
Jaipur. Ludhiana, Chandigarh Etc.
Sector like 111,112,113 and 114 are close to Delhi border and will definitely
command some premium. Some of these sectors are also close to the area earmarked
for Special Economic Zones(SEZs), and to garhi harsuru, where Reliances SEZ will
come up.These sectors are: 76, 77, 78, 81, 82, 83, 84, 85, 86, 97A, 86P,88,92
and 93. A third lot of residential sectors has been demarcated near sohna road.
These are:58, 59, 60, 61, 62, 63, 65, 66, 67, 68, 69 and 70.
Proximity to the arterial road will be a major factor to decide the price. At
present, DLF 1, DLF 2,Sushant Lok, Sohna Road are the costliest and price ranges
between Rs.3,500/sq ft and Rs.7,000/sq ft.
But the newly created sectors would be a cheaper alternative to the costliest
sectors. Sectors along NH-8, such as 76,77,78,80,81,82 and 83 will command a good
prices. The master plan provides for the construction of a new road from Delhi
(Brijwasan) to NH-8. Sectors such as 113, 112, 114, 108, 107, 106, 105, 102, 99,
84 and 83, which lie along this road, will also command a good price. The impact
of master plan is also seen in Manesar.
An ineffective transport network-both intra and inter city-can all but mar Gurgaon's
chance of becoming a global hub. Denied a good public transport system, most Gurgaon
residents have been left with no option but to rely on their personal vehicles
to commute Gurgaon's reputation took a beating recently after 28 people were murdered
by a gang ferrying unsuspecting commuters in their cab.
KEY FEATURES OF RELIANCE SEZ :
1. Total investment by Reliance : Rs.25000/- crore. 2. Investment by companies: Rs.15.000/- crore. 3. Project completion time: 5 years. 4. Overall supply & demand of built-up property to go up 5. Atleast one-job per family. 6. More urbanization in nearby area-villages transforming into
small towns. 7. Better social infrastructure such as schools, colleges, health
care facilities and entertainment. 8. Job market will expand. 9. Increase in average salary.
10. Increased traffic and pollution.
It seems that soon Gurgaon's nickname will change from MNc headquarter. In all,
30 applications for starting SEZs (in Gurgaon alone) is under consideration before
the Board of Approval of the union commerce ministry. Govt. sources say that spread
over various locations, the 30 Sezs will see an average investment of Rs. 4,000
crore in infrastructure, therefore, making a total investment of Rs.1.2 lakh crore(Rs
1.2 trillion). Analysts say China attracts nearly 445 billion per year in FDI
compared to India's 42 billion annually, all because of its SEZs.
Out of 30 proposed SEZ,16 are in the IT sectors. The average size of the IT/ITES
sector SEz is 25 ha of land. Almost all the reputed builders like DLF, Unitech,
Ansal, Assotech, BPTP, MGF: Emaar MGF and Raheja have sought permission to start
SEZs in the areas.