The area that lie close to the National Highway 8 are said to have been earning surplus market demand. However, this has led to the price stability in such sectors of Gurgaon.
National Highway 8 (NH-8) is known as the lifeline of the Gurgaon, which has led to the development in certain sectors like Sectors 17, 18, 25A, 29,30, 31, 32A, 33, 34, 35, 36, 37, 37A, 48, 76, and 77, these sectors are both residential as well as commercial in nature with residential being stable and to offer myriad of opportunities to its end users.
There are many reasons for the area to become the perfect investment destination as it offers good connectivity to the nearby area. It has wide range of residential options from 1BHK units to villa properties for its buyers, which range from Rs 20 lakh for a 1BHK to as high as Rs 4.5 crore. Some popular residential sectors near the highway include Sectors 31, 37C, 48, 76, 77, 81, and 82.
Development of offices and retail spaces in around these sectors has led to the growth of residential demand in this area. Developers believe that this has has attracted buyers. Vineet Relia, MD, SARE Homes, says: “The realty sector has progressed significantly over the last decade. The development of townships and global eco-urban areas on NH-8 has brought in fresh investments.”
Realtors firmly believe that good connectivity is going to be biggest advantage. “The real estate lying along the NH-8 is good as its connectivity is ensured via bus transportation services offered by Haryana roadways, linking the township to neighbouring states and cities like Delhi, Uttar Pradesh, Rajasthan, and Chandigarh. Delhi-Gurgaon Expressway and the NH-8 provide excellent connectivity to this region. With the government spending Rs 900 crore on the NH-8 and the Smart City project successfully underway, the lifestyle quotient of certain sectors has enhanced further. The future appears bright as a considerable chunk of residential properties along this region is nearing completion,” Ravish Kapoor, director of Elan Group, said.
However, nobody anticipates a further rise in property rates owing to the current glut in market. But consultants in the region say that rates will not correct in the near term, as there is demand from prospective buyers in the market.
“Discerning buyers who only look for properties near completion have plenty of buying options in a number of projects in these sectors today,” a consultant said. The prime sectors, however, remain for people with deep pockets alone!