HT Estates - - HTESTATES - Van­dana Ram­nani

With the Gur­gaon Ex­press­way toll is­sue f i nally buried, t he l ong r i de f rom t he Mil­len­nium City t o t he Cap­i­tal will be shorter and swifter. Talk­ing about smooth ac­cess, there’s also the much- awaited 18.5- km, 150- me­trewide Dwarka Ex­press­way or the North­ern Pe­riph­eral Road (NPR) that is ex­pected to pro­vide an al­ter­na­tive to the NH8. The road is ex­pected to con­nect Dwarka Phase II to NH8.

While 14 km of the NPR is al­most com­plete, work on the re­main­ing four- km stretch ( mired in lit­i­ga­tion is­sues) is ex­pected to re­sume soon. Once com­plete, the re­gion where about 113 projects are cur­rently un­der con­struc­tion, is set to emerge as the next ma­jor realty hub in Haryana.

The 14-km stretch of the ex­press­way was built at a cost of ` 67 crore by an In­di­a­b­ulls- led con­sor­tium, sources in the com­pany say.

Realty ex­perts say that once the ex­press­way is op­er­a­tional, travel time from Gur­gaon to west Delhi would be re­duced by half. Cur­rently, there are al­most 50,000 units in the area spread across 113 projects un­der con­struc­tion in sec­tors 37C, 37D, 102, 102 A, 103, 104, 105, 106, 107, 108, 109, 110, 110A, 111, 112 and 113. Nearly 3000 units will be ready for pos­ses­sion by the end of this year, a num­ber that will dou­ble by next year. These in­clude 2BHK, 3BHK, 4BHK and vil­las.

The projects in the area cur­rently com­mand prices in the range of ` 5,500 to ` 10,000 per sq ft. Rates have spi­ralled since 2011. Any­thing that cost around ` 30 lakh to ` 40 lakh then, is now priced at ` 50 lakh to ` 60 lakh.

The other driv­ers in the area in­clude its prox­im­ity to the Indira Gandhi In­ter­na­tional air­port and the up­com­ing Diplo­matic En­clave in Dwarka.

R a m ap r a s t h a P r o m o t e r s & De­vel­op­ers Pvt Ltd will de­liver 336 units in its project The View and 280 units of The Atrium by July this year. The first phase of The Edge Tow­ers will be handed over by July and the sec­ond phase by De­cem­ber. A to­tal of 1280 units com­ing up in this project will be de­liv­ered by De­cem­ber. These projects, in the range of ` 2500 per sq ft when they were launched in 2009, to­day cost twice as much in the se­condary mar­ket. Projects such as The Rise and The Skyz, launched by the group in the same sec­tors, will be de­liv­ered by the end of next year.

In­di­a­b­ulls will de­liver ap­prox­i­mately 450 units of i t s project, Cen­trum Park Phase I, lo­cated in Sec­tor 103 by April/ May this year. De­liv­ery for the group’s other project Enigma, lo­cated in Sec­tor 110, will be­gin in early 2015.

In­di­a­b­ulls Cen­trum Park was launched in 2009 at a price of ` 1,950 per sq ft and its cur­rent price is ` 5,200 per sq ft. Enigma was l aunched i n 2010 at the rate of ` 4,700 per sq ft and its sale price now is ` 7,500 per sq ft.

This area of f ers great op­tions both in the medium and i n t he l ong r un i nn res­i­den­tial and com-mm e r c i a l s e g m e n t ss .. Con­nec­tiv­ity l ook­sks promis­ing with easysy ac­cess to the air­port,rt, pl anned i nfrastr uc-uc­ture de­vel­op­ment andnd prox­im­ity to Delhi andnd Gur­gaon. As prime loca-oca­tions such as the Golf Course Road mar­ket are al­ready sat­u­rated thithis area is the next big real es­tate de­vel­op­ment in the NCR, says Gur­bans Singh, group di­rec­tor, In­di­a­b­ulls Group.

In­dus­try sources point out that BPTP may also de­liver 400 units of its Park Serene project by the mid­dle of this year and some 450 floors of Am­sto­ria end of this year.

The first realty player to launch projects along this stretch has been Ra­heja De­vel­op­ers. As part of the first

phase, the group will de­liverd li 256 unit­sit ini theth Vedan­taV d t pro­jectj t lo­cated in Sec­tor 108. The de­vel­oper ex­pects to get the oc­cu­pancy cer­tifi­cate in about three months. It will de­liver 103 units in the Vedas project lo­cated in Sec­tor 108 once it gets the oc­cu­pancy cer­tifi­cate (ex­pected within three months) and 189 units in the Atharva project lo­cated in Sec­tor 109.

The com­pany hopes to get the oc­cu­pancy cer­tifi­cate for this project in ap­prox­i­mately three months to a year.

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