Gurgaon Glows, Bright Future For Real Estate Market

Gurgaon-real-estate-market

With limited land option and shrinking infrastructure what is the future of Gurgaon you are looking at?
The future is bright. Gurgaon is far better than several other new cities that have developed in the country. The extension of Gurgaon is in full swing, going up to Manesar and Dharuhera.
The multi-directional developments in terms of infrastructural and commercial activities have promoted the residential segment, which ranges from affordable to high-end low-rise and highrise houses. The BPO and IT revolution in the area has supported high purchasing power. Connectivity and proximity to the national capital are an advantage. With improving facilities, the number of developers and builders is only multiplying here.
Are you satisfied with the present infrastructure, in terms of connectivity? There are traffic jams in main chowks, crossings and even on NH-8. In the rainy season, there is nothing but water logging on both sides of main highways and sector roads.
Not at all. If there is no problem then what is role of the government. We are doing a lot to improve the infrastructure. To free the city from heavy traffic, we are on a plan which has 84 points.
According to this, the new exit from control expressway to service road is to be provided just after the end of Shankar Chowk flyover to facilitate commuters headed towards DLF City Phase1; this will reduce the congestion at the exit. Three FOBs (foot overbridge) on Delhi-Jaipur Expressway, starting from Rajiv Chowk to Kherki Daula toll plaza has been approved. One FOB (at Raj Nagar Mor) has been completed.
In addition, more FOBs and subways have been planned for NH-8 on Naurangpur Chowk, IMT Chowk Manesar, Manesar Bus Stand, NSG Gate, Bilaspur Chowk, Panchgaon Chowk and Singhrawali Chowk. To beat the heavy traffic on Kherki Daula toll plaza, an additional lane is being planned on the tall plaza. The new road which connects Delhi from Udyog Vihar Phase3 is soon to be operational for traffic.
Is there any land row over compensation that affects planned development of the millennium city, like in Noida Extension?
No, we don’t have any. We are very transparent with farmers and builders. Builders and developers are allowed to purchase land directly from farmers. HUDA is responsible for infrastructural development by providing licence to developers and builders. We are also acquiring land for development purpose according to the existing land acquisition policy.
What is provision that gives farmers the maximum benefit in the new land acquisition policy of Haryana?
In the new land acquisition policy of Haryana, there is a provision for benefits of minimum floor rate (MFR). For this, the state has now been divided into five zonal brackets.
Under the new policy, for land situated within the notified limits of Gurgaon Municipal Corporation, the new MFR has been fixed at Rs 72 lakh per acre, including Rs 8 lakh as “no litigation incentive”.
In this way, a farmer in Gurgaon will now get up to Rs 72 lakh for an acre of his land.
For land situated within the notified limits of Faridabad and Panchkula Municipal Corporations, areas forming part of the development plans of Gurgaon-Manesar Urban Complex (excluding the areas falling within the limits of Gurgaon Municipal Corporation) Sohna, and Sonipat-Kundli Urban Complex, the MFR has been fixed at Rs 54 lakh per acre, including Rs 6 lakh as “no litigation incentive”.
What is the new master plan of Gurgaon all about? What is the role of HUDA in improving infrastructure?
The Master Plan 2021 was released in 2007. But, two months ago, a new amendment have been made to the existing master plan and the target year for the MP has been extended from 2021 to 2025.Gurgaon-real-estate-market The new developmental plan for Gurgaon-Manesar Urban Complex has been formulated taking into consideration the proposed growth of the city up to 2025.
As per the new guidelines, the population density will be calculated at 120 people per acre, compared to 100 people per acre earlier; the width of sector roads will be increased to 60 metres from the existing 30 metres, and also, the roads will be interconnected in all the planned sectors with ample parking space for vehicles.
Are there any special plans for IMT, Manesar?
IMT Manesar is projected to have a shortfall of over 5 lakh housing units in next two-three years, whereas the availability of authorized housing will only be around 62,500 units in the same period.
This area has attracted a vast population, as it is a booming investment option owing to the sound infrastructure that has been put in place. IMT Manesar is a high potential area for actual usage and investment.

Under a new plan, to free the developing area from heavy traffic, the width of sector roads will be doubled. All roads in the planned sectors will be interconnected, unlike the existing sector roads that end abruptly.

Source – TOI

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