The formation of Gurugram Metropolitan Development Authority (GMDA) is endorsing as a governing factor for the economic development and planning of Delhi National Capital Region (NCR). The organization will propagate the alliance between different governing agencies diminishing their directional disparities. GMDA will be impelling the strategic expansion for the infrastructure and the real estate development. The stakeholders in the real estate industry will be benefited by this anticipated growth. Earlier they were endured on account of lack in planned principle development. With the implementation of GMDA, India’s Millennium City may witness a balanced and sustained development in the coming time.
Experts say that, in the recent time Gurugram has witnessed a tremendous growth in the population of the city. GMDA is to boost a greater urban environment in the city by developing the infrastructure development for the raising population. The commercial development along with the enormous job opportunities will prove to be a boon for the existing people in the city.
The city based homebuyers think that the formulation of GMDA will enhance their standard of living. GMDA is also expected to be a beneficial factor for the real estate developers as it will enhance the poor administration.
Ravish Kapoor, Director Elan Group says “GMDA would be a step forward towards better administration in the city. The resultant organized development would go a long way in enhancing the quality of life of Gurgaon residents”
Vineet Relia, Managing Director, SARE home says, “The Haryana government’s decision to set up GMDA is an extremely positive move which will ensure sustained and balanced growth of Gurgaon. Its purpose is to provide infrastructure development, mobility management, sustainable management of urban environment, urban regeneration and renewal, and social economic and industrial development in the area. We hope that this much-awaited move will prompt further enhancement in the standards of living of the residents of Gurgaon as well as help generate employment opportunities.”
Rahul Singla, Director, Mapsko avers “The setting up of GMDA will help improve the health of the real estate sector in Gurugram and boost demand, benefitting developers and buyers alike. We think that the development authority taking its charge, appositive and balanced growth of the city in certain”
In the recent time Gurgaon has witnessed absorption of more than half of the total office space with 3.8 million sq ft in Delhi-NCR. Within the coming three years the city is likely to witness an addition of office space with 11 million sq ft.
Ssumit Berry, Managing Director, BDI Group, refers the formation of GMDA as a motivating step by the state government. He avers”, “The urban body will provide integrated and coordinated planning for infrastructure development. Besides initiating urban infrastructure development, GMDA will also have the powers in real estate matters of the city, as it can acquire, lease hold, manage and dispose of land.”