Gurgaon to have 16-lane super specialty corridor

Gurgaon: Real estate giant DLF and Haryana Urban Development Authority (HUDA) has announced commencement of work on the 8.3 km, 16-lane signal free road being built at a cost of Rs.540 crore in the city.

The project, under Public-Private Partnership (PPP) was a culmination of years of planning, said an official.

“AECOM consultants developed the concept to upgrade this spinal road to international standards. The contract for project execution has been awarded to IL&FS Engineering and Construction Company Ltd., while renowned international consultant Parson Brinckeroff is the project management consultant”, said an official from DLF.

The road extends from Gateway Tower on NH-8 to the end of Sector 55-56 and is designed to accommodate higher traffic volume. The corridor would be fully integrated with the Rapid Metro system.

“The 16-lane corridor would be signal free, providing free movement for commuters on either side and will feature six underpasses that would reduce noise pollution. There is also a dedicated corridor for sector 25 to sectors 55 and 56, which will mitigate traffic and thereby enable smooth flow of main traffic. The estimated project cost will be Rs.540 crore and completed in three years,” the official added.

HUDA had provided land for the project and DLF is providing funds.

Advertisements

Property hotspots of Gurgaon: I

Real Estate Gurgaon

 

Gurgaon was a sleepy town two decades ago which barely existed on National map what to talk of global scene.

Today it has more than 40 shopping malls like Ambience Mall and MGF Metropolitan. Indian HQ of more than 50 MNCs. More than 10 world class hospitals like Medanta, Artemis and Fortis.  Seven golf courses and numerous showrooms of luxury brands like Louis Vuitton, Chanel, BMW and AUDI. Gurgaon has more ultra-luxury residential projects than any other city in India like DLF Aralias, DLF Magnolias, Ireo Grand Arch, Ireo Victory Valley, M3M Golf Estate, Shobha International City & Homestead.

The kind of growth Gurgaon has seen in real estate market in past 10 years is unthinkable. The number of developers operating in Gurgaon has grown from single digit a decade ago to about fifty now. These new entrants are also not small players new to real estate ones but some of very successful players elsewhere like Shobha, Emaar MGF, Hines, 3Cs and Supertech. Some of the biggest business houses of the country who have recently jumped in real estate recently have started from Gurgaon like Mahindra, Godrej, Tata, Bharti, Adani and Indiabulls. FDI backed companies and projects are also plenty like Ireo, Brahma and Experion.

Now these 50 plus developers have launched more than 100 projects in past one year or so. The options are many, budgets are high and buyers are totally lost. An average home buyer doesn’t even know what options are available in his budget in his dream city. If he does know 5-6 options out of probable twenty he is considered to be intelligent. But for decision making he is still dependent on unprofessional brokers or so called property consultants.

To help buyers in decision making we are making an attempt to arrange available data a form a pattern through a series of blog posts. We would discuss property hot spots of Gurgaon in detail their merits and demerits, projects launched and to be launched in these hot spots, their price life cycle and expected appreciation over a period of next 2-3 years. Infrastructure projects that would play a critical role in making these projects a success.

Property hotspots of Gurgaon

A property hotspot is an area which has seen more than 10 project launches by 5 or more builders in past 1-2 years. Property hotspots or residential investment zones of Gurgaon are following:

1)      New Gurgaon – Sector 33 to Sector 37 and Sector 81 to sector 98

2)      Dwarka Expressway – Sector 99 to Sector 115

3)      Golf Course Extension Road – Sector 58 to Sector 70

4)      Southern Periphery Road – Sector 71 to Sector 80

All real estate action in Gurgaon is taking place in these four real estate hotspots. We will discuss more about these hot spots in our subsequent posts starting with New Gurgaon.

All the Best!