MORE VALUE FOR YOUR MONEY

The ad­van­tage of buy­ing prop­erty in Mane­sar is that you can get a 2BHK for lakh

HT Estates - - Front Page - Jee­van Prakash Sharma

The hills of Aravalli tempted Col (retd) SC Gulati and his wife to opt for a per­ma­nent res­i­dence in Mane­sar. “When we were plan­ning to buy a house, we went to sev­eral places in Delhi and Gur­gaon but fi­nalised a plot of land in Sec­tor 1 in Mane­sar be­cause of this bril­liant view of the hills. I feel I am close to na­ture,” says Gulati.

Mane­sar as a lot more to of­fer in terms of planned de­vel­op­ment and af­ford­able prop­erty. That’s the rea­son why, in past three to four years, prices have wit­nessed more than 100% ap­pre­ci­a­tion. “In spite of the price rise, how­ever, it re­mains an af­ford­able des­ti­na­tion when com­pared to other sec­tors of Gur­gaon, be­cause you can pur­chase prop­erty in the range of R3500 per sq ft to R4500 per sq ft in Haryana State In­dus­trial and In­fra­struc­ture De­vel­op­ment Cor­po­ra­tion’s (HSIIDC) so­ci­ety flats in Mane­sar and for R5000 per sq ft to R5000 to R9000 sq ft in Gur­gaon’s new sec­tors 86 to 95 which are close to Mane­sar,” says Pradeep Mishra, a prop­erty con­sul­tant.

Mane­sar has eight sec­tors out of which only Sec­tor 1 has res­i­den­tial per­op­er­ties. Over a pe­riod of time, three seg­ments have been made avail­able here. There are 548 plots avail­able from sizes rang­ing from 280 sq m to 900 sq m. Th­ese have been al­lot­ted by HSIIDC to pri­vate home­buy­ers, many of whom have built vil­las here. The sec­ond prop­erty seg­ment in­cludes group hous­ing so­ci­eties set up by work­ers of var­i­ous cor­po­rates and in­dus­trial houses such as Toy­ota, Mit­subishi, Honda, Suzuki etc on land bought from HSIIDC. There are about 53 such projects. In the apart­ments cat­e­gory, there are of­fer­ings by DLF, Anantraj and ABW. “Con­struc­tion work is pro­gress­ing on the DLF pro­ject. Pri­vate de­vel­oper ABW’s Aditya Nike­tan of­fers 3BHK and 2 BHK fin­ished ground +2 in­de­pen­dent floors. Th­ese are the only de­vel­op­ers in Sec­tor 1 (Phase II) in Mane­sar,” says Shashi Pal Singh who is also an ac­tive mem­ber of IMT Mane­sar Res­i­dents’ Wel­fare As­so­ci­a­tion.

The other seven sec­tors of Mane­sar have been de­mar­cated for in­dus­tries and have round 500 units and other or­gan­i­sa­tions, soft­ware and R&D hubs and a host of In­dian and multi­na­tional firms. “It’s called the In­dus­trial Model Town­ship (IMT) and also of­fers res­i­den­tial op­tions for those who work in th­ese in­dus­tries. Al­most all the res­i­dents of Sec­tor 1 (the res­i­den­tial area) are en­gaged at dif­fer­ent lev­els with th­ese com­pa­nies/in­dus­tries,” says Mishra.

Large-scale real es­tate de­vel­op­ment is also tak­ing place close by, ie, along the National High­way 8. Th­ese ar­eas fall within Gur­gaon’s new sec­tors, 86 to 95. Prom­i­nent projects in th­ese sec­tors are Unitech Karma Lake­lands, Ra­heja Navo­daya and Ra­heja Sam­pada, DLF New Town Heights, An­sal API Fern­hill, Bestech Park View Ananda, Sare Homes The Grand just to name a few.

“Ra­heja Navo­daya is spread over 17 acres and it is aimed at pro­vid­ing in­ter­na­tional qual­ity hous­ing to the res­i­dents of Delhi NCR, in­clud­ing the ex­ec­u­tives of IMT Mane­sar and pe­riph­eral in­dus­trial ar­eas of Gur­gaon, in­clud­ing SEZs,” says Harinder Dhillon, se­nior vice pres­i­dent, sales and mar­ket­ing, Ra­heja.

A 2BHK mea­sur­ing 1498 sq ft cost ap­prox­i­mately R85 lakh in Ra­heja Navo­daya in Sec­tor 92.

While price ap­pre­ci­a­tion has been quite mod­er­ate in Mane­sar Sec­tor 1, projects in sec­tors 86 to 95 have yielded hand­some re­turns for in­vestors in the last few years.

In the next one year, ex­perts pre­dict, prop­erty prices will ap­pre­ci­ate by at least 30%. “In the last three years, prices have al­ready al­most dou­bled in most of the good projects in Gur­gaon’s sec­tors 86 to 95. Most of them will be com­pleted in an­other six months to one year. Ac­cord­ing to my es­ti­mates by the time pos­ses­sions are of­fered, prices will rise by 30 to 40%,” says Dhillon.

There are many other fac­tors and govern­ment ini­tia­tives which will push the res­i­den­tial de­mand up in the com­ing years.

David Walker, ex­ec­u­tive di­rec­tor, SARE Homes, says, “Hous­ing de­mand in Gur­gaon (in­clud­ing Mane­sar), has been ris­ing, most of which can be at­trib­uted to the mid-in­come seg­ment. Ini­tia­tives such as Metro-rail con­nec­tiv­ity to Delhi and the de­vel­op­ment of the Kundli-Mane­sar-Pal­wal (KMP) Ex­press­way have played a sig­nif­i­cant role in this trend.”

PROP­ERTY RATES IN IMT-MANE­SAR

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