The Millennium City has been doing extremely well, which it has maintained over the years due to the excellent connectivity it promises to people investing in real estate here.
Realtors are gung-ho over the latest development, as the real estate around Gurugram Expressway New Gurugram. and Manesar will get additional attention.
The city is already scoring well on real estate parameters as a report by Knight Frank ‘India Real Estate Residential market January-June 2021’ said that sales in Gurugram’s mid segment improved in the first half of 2021 over the same period last year. From a 27% share of NCR’s total, its share Increased to 32% in the current period, the report said.
The rail corridor will begin in Sector 21 in Dwarka, Delhi, and will run parallel to the Dwarka Expressway in Gurugram. Along the Gurugram-Jaipur train route, it will travel to Rewarl from Gurugram. It will then travel parallel to NH-48 to reach Ahmedabad. From Delhi to Ahmedabad, there will be 14 stations, one of which being Manesar.
“Gurugram has established itself as a desirable location. The city, which is recognised for its high-end residential structures, has become a real estate draw for people of all economic levels. Developers have expressed great interest in the Haryana governments’ flagship affordable group housing initiative. The most recent development of high-speed rail corridor will result in more employment in the ‘neighborhood, increasing demand for real estate developments across the board,” says Pradeep Aggarwal, chairman, Signature Global.
The impact of the high-speed rail corridor would also be in sync with the requirements trickling in after COVID-19. People are looking for accommodation near employment hubs, and the new corridor is expected to increase employability in areas in the vicinity of the station. More peripheral areas are also likely to emerge after this announcement.
“The areas of Sohna, Sohna Road, and Dwarka Expressway are among the most popular among buyers. Previously, the majority of purchases in the perimeter were made by investors or buyers who intended to migrate in the near future. However, they are now willing to accept the distance between their residences and their places of employment. The most recent high-speed rail corridor will bolster people’s decision to relocate to the peripheries,” Nayan Raheja, ED of Raheja Developers, said.
“Gurugram has always satisfied people’s basic infrastructure demands. The city’s popularity developed owing to its ability to accommodate people’s desire for shorter commutes to various areas, as evidenced by the approval of projects along the Dwarka Expressway, Sohna Road and near the Metro,”