‘The area will take a few more years to develop’
I bought a 1500 sq ft apartment in the project by the Rahejas called Vedanta almost five years ago. The unit cost be around ` 2500 per sq ft. I am a resident of Meerut where I own a rolling mill.
I bought the apartment for my son who was working in Gurgaon. He’s now working in Bangalore and I’m hoping that by the time he’s back in Gurgaon, the area would have been developed and ready to move in.
I’ve been informed that the project is almost ready and possession will be given in a few months subject to the developer getting the occupancy certificate. While the project is close to Delhi and about 9-10 km from the Gurgaon-Delhi border, I think I will not want to move in or take possession soon as there is hardly any infrastructure or facilities in place. Only after the area develops and more people start settling in, perhaps in a year or so, will I decide to shift. I bought a 2100 sq ft flat in ATS Kocoon locaed in sector 109, Dwarka Expressway last year. The project is located barely four kilometres from Delhi and therefore has a relatively better location compared to other projects in the area. This is my third investment with the same developer. I consider this as a long-term investment and believe that in the litigation problems will be solved soon. Once the issue is sorted and the expressway completed in totality, my belief is that returns from this investment will be huge. If one were to compare the launch price of the project, one will find that prices have already appreciated in the area. I had even made an investment in the Noida Extension area which was again mired in litigation but the moment the issue was solved, the price of my property almost tripled. And this one may not take long as there are huge investments and large number of projects coming along this belt.