A DESTINATION FOR HIGH-END LIVING

Golf Course Extension Road is now one of the most important emerging corridors in Gurgaon with a perfect blend of residential, office, retail, and institutional development — Mamta Sinha

Not too long ago, Gurgaon was termed as a satellite town of Delhi. Over a period, the city has not only become a self-sustaining ecosystem, but has given shape to distinctive micromarkets.

These micromarkets can now be clearly plotted on the real estate life cycle charts on the basis of several factors like infrastructure development, real estate development, occupancy levels, commercial activity, and rental and capital value trends.

One such high-potential and promising location is Golf Course Extension Road. This location abuts two major micromarkets — Golf Course Road and Sohna Road.

As the name suggests, the location is a logical extension of the current well-established and prominent Golf Course Road. Over the years, Golf Course Road has seen successful development of various retail, commercial and residential asset classes.

In time, however, owing to increase in rental and capital values, the aspirants of Gurgaon — both corporates and individuals — are exploring new but look-alike locations, which are more affordable as well as consist of New Age developments.

“Golf Course Extension Road is a location for aspirational middle-income group seeking luxury lifestyle projects with a promising development of social infrastructure, including retail, commercial, and institutional projects. The area primarily comprises established areas like Sectors 55, 56, 57, 49, and 50 and developing areas like Sectors 61, 62, 65, 66, and 67. The area is well-connected to the main city, Gurgaon, through Golf Course Road and Sohna Road. It also connects to Faridabad on one side though Gurgaon-Faridabad Road, and on the other side to National Highway 8 through Southern Periphery Road,” Amit Chawla, senior associate director (valuation and advisory services) at Colliers International India, said.

The area provides a variety of options in the residential segment, like apartments, villas, and plotted land in the price range of Rs 8,500 per sq ft to 11,500 per sq ft.

Some of the prominent projects include IREO Grand Arch and Victory Valley, M3M Golf Estate and  M3M Merlin, Emaar Palm Terrace and Palm Drive, etc.

“On the retail side, some of the top projects include M3M Tee Point, Golden Arcade, AIPL Joy Street, Emerald Plaza by Emaar, and M3M 65th Avenue. Further, various commercial space developers like Ascendas, IREO, and TRIL are developing a major IT SEZ in the region,” Chawla said.

This area is as a perfect blend of residential, office, retail, and institutional development which will create a perfect ecosystem with the potential to attract premium to luxury real estate demand across segments.

“Rapid growth of infrastructure, world class projects offering the latest lifestyle amenities, and social infrastructure will keep drawing buyers to the region. Its excellent connectivity through Sohna-Gurgaon Road and NH-8 is another factor for its popularity among potential buyers. The area has caught the attention of corporate of various sectors for their offices,” Pankaj Bansal, director of M3M Group, says.

Source : TOI