Property Updates : Gurgaon

Golf Course Extension Road is going to be the next destination for luxurious residential projects in Gurgaon. This developing stretch has carved a niche for itself in a very short period, as it is on a 30-minute drive from the Indira Gandhi International Airport and has easy accessibility to NH-8 and South Delhi through the Gurgaon-Faridabad Expressway. Relatively, Golf Course Extension Road is a new locality . During the slowdown, the number of transactions dropped considerably, but with improving infrastructure and a growing demand for premier lifestyle housing segments, the realty scenario on this stretch has now changed. Developers and prompters are now raising golfthemed apartments and luxury villas. Top realty players like DLF have already launched several premium projects like Aralias and Belaire on this road. While projects like these have done their bit in promoting the area, the area turned into an end users destination with the development of Road No. 9 from Sikandarpur to Golf Course Road. The extension of this road to connect to Sohna Road further opened up the area to development. Apart from DLF's projects, the other launches along this stretch are Ansal API's Esencia, M3M's Golf Estate, Pioneer Group's Pioneer Park, Emaar MGF's Emerald Hills, Tata's Raisina Residency and IREO's Grand Arch. Sectors like 55 and 56 along the Golf Course Extension Road already have a large number of cooperative group-housing societies, which have created a critical mass of population on this stretch. The new stock coming up here is 3- or 4BHK luxury apartments of 1,500-2 ,500 sq ft, quoting at a base rate of Rs 11,000 sq ft. Commercial projects like Global Business Foyer, Paras Twin Towers, Suncity Business Park, and Ninex Time Tower have already been handed over for possession. The availability of commercial space has increased by approximately 30%. In the retail segment on the Golf Course Extension Road, Emaar MGF has launched the Emerald Plaza mall. Unitech has launched two office space projects - Unitech Business Park and Silvertone. M3M is coming up with Golf Estate duplex apartment on 75 acres in Sector 66. Golf Estate has three parts: Fairway West, Fairway East and Fairway Polo Suites. Fairway West is expected to be completed in 2014, while the entire project, including Fairway East and M3M Polo Suites, are likely to be completed within the next three years. Fairway East and M3M Polo Suites offer 3BHK units of 3,655 sq ft, 4BHK units of 4,465 sq ft, 4BHK duplex of 5,465 sq ft and 5BHK Simplex of 5,600 sq ft at Rs 11,000 per sq ft. - Dharmendra Kumar