Connectivity drives prices on Golf Course Road

2011-09-21 15:14:02

Golf Course Road, with residential projects by major developers in Gurgaon, such as DLF, Emaar MGF, Unitech Group, Ansal API, BPTP Ltd, and many more, sports a premium tag in the city. Any developments near a Golf Course in any city, is considered a premium area. In Gurgaon, the DLF Golf Course is the only one within the residential limits of the city. All others such as the Classic Golf Course are along the Expressway, away from the main city.

In addition, the size, scale of lifestyle features and the connectivity to the rest of the city and to Delhi, makes the Golf Course Road a preferred residential destination. Both the middle and high income groups are investing in this stretch. The middle income groups have a large pool to choose from, in the Cooperative Group Housing Societies in Sectors 55, 56 and 57. Privately built apartments such as the Pinnacle, Icon, Aralias etc from the DLF group are in the Super Premium category. All of DLF Phase V comes in the upper middle category. The ongoing capital value of apartments in this locality is between Rs 8,000 and 10,000 per sq ft. The rental value of apartments is approximately from Rs 30 to 32 per sq ft. The reasons for this are the presence of a good social network and location advantage.

Vijay Agnihotri of Ankit Real Estate said that the main reason for high demand in this locality is that it provides a buyer the comfort of being within the Gurgaon limits and also close to all facilities hospitals, schools and malls. "It is an ideal experience for a buyer to have everything within easy distance and Golf Course Road provides that."

According to MagicBricks data, the capital value of multi-storey apartments has increased by 7% in the April-June quarter compared to January-March quarter. On the other hand, the rental value of apartments has witnessed a rise of 10% in the same period. Rental values in this locality have witnessed a steep increase owing to demand for rental housing as many people are looking for comfort of living when they migrate to Gurgaon for jobs. Being in close proximity to several commercial buildings, the premium residential units are sought after by employees in this area.

Deepak Ruhil of Base Realty posted on MagicBricks site that the Golf Course Road is one of the prime roads in terms of projects by various top builders and also in terms of the value of land/apartments. "In future, the locality will give very high return on the investment of residential and commercial properties. The widening of road to six-lane /service lane is awarded to DLF/ IL&FS." Ruhil added that the DLF metro line will be covering the road up to Extension road and will have the best connectivity to Delhi as well other parts of Gurgaon.

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