Express Growth – Realty development along NH8

Delhi/NCR
Real estate development along National Highway 8 has seen remarkable progress over the past few months. A report estimates that there would be job opportunities for 22 lakh people by 2017 in this zone.

Realty projects under construction along NH-8 cover a stretch of 15km through Haryana and present multiple options to investors in search of early-bird investment opportunities.

Residential property prices on Southern Peripheral Road (SPR) connecting to NH-8 have seen rapid appreciation over the past few months. This location holds great investment potential due to the fast connectivity that NH-8 provides to Manesar and Dwarka.

As prices soar in new areas of Gurgaon like Dwarka Expressway, Golf Course Extension Road, and Main Gurgaon Sohna Road, buyers are looking at alternative locations.

The investment regions and areas along NH-8 being developed under the DMIC (Delhi-Mumbai Industrial Corridor) include Manesar-Bawal Investment Region (MBIR) in Haryana and Khushkhera-GurgaonNeemrana Investment Region (KGNIR) in Rajasthan.

The forthcoming 1,483km-long DMIC coming up along NH-8, where multiple SEZs have been approved by the government, is attracting FDI in real estate, IT-ITeS, automobile, glass technology, etc, from Japan, the US, Korea, China, etc.

These regions have multiple driv ers of economy with a series of central-aided and standalone state government projects, which are expected to give a major spurt to the infrastructure and economy of not only this region but the entire NCR.

Further, the advent of the KundliManesar-Palwal expressway as well as the scheme of the Golden Quadrilateral connecting Delhi with Mumbai through a super expressway, has made NH-8 the growth spine of the country. Conceived as a global manufacturing and trading hub, the project is expected to double employment potential, triple industrial output and quadruple exports from the region in five years.

It is estimated that these emerging industries will attract skilled and semi-skilled working population of nearly 1.5 million from different parts of the country and abroad.

Honda Motors, Asahi, Saint Gobain, Musasi, etc, have already set up some of the largest car and glass plants of the world along this corridor. American companies like Becton, Dickinson and Company, Hollisters, etc, also have plans to mark their presence and invest in this zone. Today, the residential subsector is growing rapidly and the urban population of India is expected to touch 590 million by 2030. Therefore, in order to meet the future demand, regional players are expanding to achieve a pan-India presence.

Developers and builders who have projects in and around Dharuhera include Vardhman Developers, Star Raisons Landmarks (The Essentia), Vipul, Lotus Green (City), Piyush Group (Piyush Horizon), Avalon Group (Avalon Rangoli), Parsvnath, Air Armada Group (Armada Residency), Bestech Group (Park View Delight), and M2K, to name a few.

Raheja Group has Raheja Oma at the intersection of NH-8 and NH71B in Dharuhera.

Nayan Raheja, ED of Raheja Developers, says: “The Oma is designed to suit the residential requirement of the owners, directors, CEOs, and senior managers of the industries here. From 1BHK studio condos to 4BHK penthouses on the iconic 40 storey tower, these exclusive residences are real value for money.“

Vardhman Estate & Developers has announced the launch of two new towers at its current residential project, Springdale, in Sector 3, Dharuhera. The project is over 9 acres surrounded by greenery and is connected to NH-8.

The new towers of Vardhman Springdale offer 3and 4BHK lifestyle apartments of 1,640-1,850 sq ft at a starting price of Rs 2,995 per sq ft.

Vivek Gupta, chairman of Vardhman Estate & Developers, says: “At Vardhman we believe in constructing the building first and then selling the property. Following the success of these principles we have launched Springdale two years ago.“

EMAAR MGF’s Palm Hills is a large, master-planned, group-housing development with parks and landscaped greens in Sector 77, Gurgaon on NH-8. The project has a built-up area of 3.32 million sq ft, and a saleable area of 2.646 million sq ft. Palm Hills has 1,513 flats in the 3(1,450 sq ft) and 4BHK (1,950 sq ft) format with flexible floor plans.

Palm Gardens, by the same group, is a residential integrated community over 22 acres in Sector 83 along NH-8. The project has 12 apartment towers planned around open landscaped spaces, with 1,026 apartments on offer in 3BHK, 5BHK, and duplex format. The development also includes a golf putting range, two schools, and EWS housing.

Source: http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/express-growth-realty-development-along-nh8/79656.html