The Gurgaon real estate residential bookings market which saw slowdown in last 2-3 years has shown some movement on Dwarka Expressway in the last 1 month. The reasons can be identified as follows:-
- The news in Times of India is a fact and has an important implication on the sentiment of home buyers. Dwarka Expressway highway also called as Northern Periphery Road (NPR) is a 27.6 km stretch. The work which started years ago is on the verge of completion. One may easily check by actually driving on the road. All the flyovers are completed and street lights have been installed in a good part of the length. Recently the news in Times of India added fuel to the fire by razing some more illegal structures. Barring just a kilometer or half of it from Delhi , the rest of the highway within Gurgaon is more or less complete.
- Schools like Delhi Public School , Gyananda School, Imperial Heritage School and RPS school, are already operational. The result is that with the opening of educational institutions , residents can easily find good schools for their kids in the area. We also see some the commercial structures like of Indiabulls and Conscient passing half way mark in completion and may see markets open here for the residences.
- Projects from Puri Constructions, Tata Housing and M3M have given possession of some of the towers and people have started living the complexes. This gives another credential to Dwarka Expressway as the living has actually began. Once we reach towards the new gurgaon area between sector 81 to 95 which comes towards the end of Dwarka Expressway, people have been living here for last 5-6 years and we see that in this area thousands of families in living in the projects of DLF, Sare Homes ,Vatika, Bestech and Orris.
- RERA has played a big role in changing the sentiment of the home buyers and investors. The strict guidelines of completing the project on time is the biggest benefit. Developers have been known for the delay in offering possession to home buyers and in many cases it lasted more than 7 years. The builder buyer agreement had been one sided in the absence of the regulation authority. Things have changed now. The developers have to mention a clear date of completing the project. The delay can lead to cancellation of the project registration , imprisonment along with fine. As per RERA 70% of the amount taken from home buyer has to be deposited in a separate bank account to cover the cost of construction and land which will be used only for that purpose.
- Launch from credible groups like Godrej Properties in Sector 85 Gurgaon and Hero Homes in Sector 104 on Dwarka Expressway highway is another factor. Both the projects offer apartments to buyers at a price which one used to pay in 2011-12. A rate close Rs. 5000 per square feet that too all inclusive is a very lucrative with good specifications. The payment plans like paying 30% in the first year, 40% after completion of structure and rest on possession gives comfort to the buyer to shall payouts. Someone who looks forward to buy luxury or we may say ultra luxury projects then Sobha Developers of Sector 109 and Godrej Meridian in Sector 106 offers a wonderful choice to the home buyers.
- Along with that the environmental friendly theme specifically from Godrej offers a property eliminating pollution in its project . Pollution is the biggest concern for the apartment user and it is said PM 2.5 is at the highest levels in Delhi NCR. The rescue from Godrej Properties in Sector 85 Gurgaon with different and unique methodologies followed by them is unprecedented both inside and outside the apartment in the complex.
Check out http://www.apnijagah.com/new-launch-projects/godrej-sector-85-new-launch/http://www.apnijagah.com/new-launch-projects/sobhacity/