Gurgaon : Golf Course Road - Extension An emerging epicentre
Golf Course Road Extension , came into the limelight in 2009 after it became an alternative to the then overpriced Golf Course Road. Since then it has become one of the most preferred locations both for developers and buyers/ investors. It directly connects with the Golf Course Road on one side and Sohna Road on the other and therefore enjoys all the benefits that both the developed areas offer. The sectors in the Golf Course Extension Road include 50, 51, 57, 59, 60, 61, 62, 63, 64, 65 and 66. The location is also known as the Southern Periphery Road.
Ongoing projects The Golf Course Extension Road has attracted from a number of renowned developers such as Ireo, Emaar MGF, Ansal, Pioneer Urban Land & Infrastructure Ltd, Tata Louvre, M3M, SS Group and Bestech Group (Source: Developers’ websites, KPMG Analysis). The popular formats prevalent in the Golf Course Extension Road are 3BHK and 4 BHK, while the 2BHK and 5BHK formats are still evolving (Source: KPMG Analysis). Primarily, the projects comprise high-rise buildings and have been designed keeping in mind the requirements of the high and middle-income groups.
The projects in this location are a mix of integrated township and group housing, thereby providing number of facilities and amenities like schools, mini theatre, shopping complexes, swimming pools, sports centres, gymnasiums, jogging trails, club houses etc. Further, the projects offer 24-hour water supply, 100% electricity backup and modern security features.
These residential projects are currently being offered in the price range of R5,500 per sq ft to R7,000 per sq ft, requiring a total investment of R82 lakh to R105 lakh, depending on the area of the apartment. (These prices are for apartments of size 1500 sq ft.) Other proposed developments The retail and commercial segment in this area is also evolving with projects such as Emerald Plaza Mall (Emaar MGF), BPTP Centra One (BPTP) and The One (Baani Group) being launched. As per the Haryana Urban Development Authority Master Plan, this area will have direct connectivity with NH8, Bhiwadi and Manesar. Further, as per HUDA norms, this area will have relatively wider sector roads compared to other sectors of Gurgaon which face problems of traffic congestion (Source: Gurgaon Authority website).
In the Proposed Metro Corridor in 2021 this area will have direct Metro connectivity. Further, it will have proximity to the upcoming bus station in HUDA City Centre.
The road ahead Most of the projects in this area were launched during 2010 and are expected to be completed by 2014.
Thus, it provides a number of options to customers to select their choice of home as per their budgets.
According to the KPMG analysis, the supply scenario in 2014 is likely to be 1.8 times more than what was witnessed in 2012, creating approximately 10,000-11,500 residential apartments. Of this supply, about 75% will be 2BHKs and 3BHKs, while the remaining will be 1BHKs and 4BHKs. It is also expected that capital values of residential property in the area will grow at a compounded annual growth rate of 16-20% during 2011-14 (Source: KPMG analysis).
Development work is still continuing in the area and hence huge challenges are being faced when it comes to with transport facilities. The public transport systems here leave a lot to be desired. Other basic amenities such as power and water are also lacking. However, the area is expected to emerge as a major residential hub of Gurgaon. The proposed plan of the Metro arriving in this area has pushed up prices and thereby attracted investments from buyers. Besides, improved connectivity with NH8, Bhiwadi and Manesar and the proposed infrastructure work that is currently on by public agencies in the area has made this an attractive mid-segment housing destination for those interested in living in reasonably spacious and well-fitted houses in the heart of the city.
It is a great residential option for those who work within Gurgaon. Source HT ESTATE
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