Manesar is emerging as one of the fastest growing towns India and Delhi NCR. It is no longer just a weekend destination surrounded by Aravalis. With Gurgaon reaching saturation point, the Haryana Government has of late shifted its focus on the development of Manesar. The city has been developed in four phases The Haryana State Industrial and Infrastructure Development Corporation (HSIDC) has developed 1,750 acres of land in phase I, while work is in progress in Phase II (180 acres) and Phase IV (650 acres). HSIDC has allotted phase III (600 acres) to Maruti Udyog Limited for their expansion project.
The location is considered advantageous by investors due to the development of the commercial sector, proximity to Gurgaon and emergence of several developers with a number of affordable housing options. The place is evolving as a major hub for MNCs in India with players like Honda Motorcycle and scooters India, Nippon, Baxter, Stanley, Toyota, Mitsubishi, seting up base here. Besides commercial development, the city is being also home to a number of important institutions. It is the base for the National Security Guard (NSG) and the National Brain Research Centre.
Further, with the inclusion of the city in the New Master Plan, the number of residential sectors has increased from one to four, thus making it a promising real estate destination.
Ongoing projects DLF, Raheja, Vatika, ABW Group, Godrej have marked their presence on the Gurgaon-Manesar Expressway to create townships.
The developers have been focusing on constructing 3BHK and 4BHK apartments, and giving limited attention to 2BHK formats. The projects are designed as per the requirements of the middle income group.
The projects offer a number of facilities and amenities such as health clubs, shopping complexes, jogging trails, spas and lounges, swimming pools and gymnasiums, electricity backup and modern security features. However, the facilities and amenities are not at par with the ones offered in the residential complexes of Gurgaon.
These projects are currently offered in the price range of R2,500 per sq ft to R3,000 per sq ft, requiring a total investment ranging between R33 lakh to R40 lakh, depending on the size of the apartment.
Since development work is still going on in the area, safety and security is a cause for concern in Manesar. Basic amenities such as roads, power, water and sewage too leave much to be desired.
The road ahead Most of the projects in the area were launched during 2009-10 and are expected to be completed by 2013-14, with approximately 3,000-4,000 residential units available to meet the requirements of middle class families. It is also expected that the capital value may grow at a CAGR of 1012% during CY11-14.
The Manesar residential market has just started to evolve; hence the option of re-sale is limited as there is no availability in this category. The upcoming projects such as the expressway to Jaipur and SEZs will go a long way in augmenting property prices of this area. The presence of Industrial Model Township also makes the area an attractive investor’s destination. It’s also set to be big hub for corporate offices and trade towers. The demand for residential property will grow in tandem with demand for commercial complexes in the area.
Further, once the Kundli-ManesarPalwal Expressway is operational, prices will increase in the area. The area is also expected to become of the greenest industrial estates in the country. > Popular formats in Manesar Formats Popularity 1 BHK Low 2 BHK Medium 3 BHK High 4 BHK High 5 BHK Low SOURCE: KPMG ANALYSIS > What you get here Facilities Percentage offered Security features 100% 100% electricity backup 100% 24×7 water supply 100% Children’s play area 75% Swimming pool and gym 50% Health club 50% Shopping complex 50% Jogging trail 25% Spa and lounge 25% Green building 50% Creche and nursery school 25% Mini theatre <25% Dance and aerobics studio <25% SOURCE: KPMG ANALYSIS > Options available at Manesar Project name Developer Location Configuration (sq ft) Completion year Anant Raj Anant Raj Madelia M1 sector 2BR-1250; 3BR-1450, 17124 2013 BR-2100; Penthouses 3100 Godrej Godrej Frontier M1A sector 3BR 1821, 1928, 2264 2013 4BR 2753, 3165 DLF Projects Express Greens M1 sector 3BR 1845; 4BR 2230 2013 Independent floors 2860 ABW Group Aditya Niketan M1 sector 2BHK 2583, 1746 2013 3BHK 2583, 2160 SOURCE: DEVELOPERS WEBSITE AND KPMG ANALYSIS THE LIST IS NOT EXHAUSTIVE. Source HT ESTATE
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