subject: Tee Off To Novel Housing Concepts [print this page] TEE OFF TO NOVEL HOUSING CONCEPTS TEE OFF TO NOVEL HOUSING CONCEPTS
Golf Course extension holds promise what with ground-breaking housing concepts and good developments in the pipeline, says NAMRATA KOHLI
It is the road perpendicular to Golf Course road, which connects it to the Sohna road. As against Golf Course road where properties are ready to move in and hence very expensive, on Golf Course Extension road, the projects have just been launched and will take at least three-five years to come up. Therefore, the prices are relatively less and affordable at the rate of Rs 4,500-5,500/sq ft.
According to property broker Shekhar Midha from Valuez: "Golf Course Extension road is the only road in Gurgaon that has been planned with no villages and slums nearby. The road is very wide and straight with A-class builders. Most of the projects launched here will take four-five years for completion and another two-three years for conditions to become habitable like having all basic infrastructure of water, electricity, roads, security, etc. It is a good investment for those with a long-term investment perspective.
Golf Course Extension road was constructed in 2009. Most of the projects launched along this stretch in 2009 are expected to be up for possession by the end-2012. Some of these projects include Emaar MGF's Palm Drive, Palm Terraces, Palm Studios; IREO's Grand Arch, Uptown, Victory Valley - Pioneer Park; Emaar MGF's Emerald Estate, Emerald Floors, and Golf Estate by M3M. Most of these are budget luxury homes and are priced at Rs 4,500 per sq ft to Rs 5,500 per sq ft.
Ireo is 100% FDI project with investment by JP Morgan Chase, Goldman Sachs and other blue-chip companies. On a land bank of 800 acres on Golf Course Extension road, Ireo launched its first project "Grand Arch", which is apparently all sold out. Grand Arch's 2BHK of 1,375 sq ft and 3BHK of 2,163 sq ft was launched at a unit capital value of Rs 4,950/sq ft and has increased to Rs 6,850/sq ft. Uptown, which was launched in November 2009 at a unit capital value of Rs 3,800/sq ft has 3BHK of 1,600 sq ft and 4BHK of 2,000 sq ft and is now available at Rs 4,700/sq ft.Victory Valley has 51 storeyed hi-rises plus mid-rises as well as low-rises ranging from Rs 5,500-5900/sq ft. It was launched in May 2010 and will be ready by mid-2013. Ireo is marketing hi-rises as the tallest building in north India, from where on a clear day, one may be able to see Taj Mahal!
Emaar MGF has launched "Palm Terraces project on this road. According to a company spokesperson from Emaar MGF: "After the success of 'Palm Drive' on Golf Course Extension road, we launched 'Palm Terraces - Select' within the 'The Palm Drive' community, situated on Golf Course Extension road, Sector 66, Gurgaon. Palm Terraces - Select, are ultra-luxury residences with mid-rise structures (G+9 to G+12) comprising four-bedroom apartments and five-bedroom duplex penthouses. The Palm Terraces features the highest design standards, quality amenities and high-end features."
Pioneer Urban has "Presidia" at Golf Course Extension road. Presidia has 3-, 4- and 5-bedroom apartments at the unit rate of Rs 5,500/sq ft. Pioneer Park Presidia has amenities like swimming pools, gymnasiums, indoor squash courts, indoor rooms for reading and relaxation, multimedia entertainment rooms and more. Each floor of Presidia has only two apartments with a provision of separate service entries for each apartment. There are hanging gardens and green patches on each tower.
Unitech's "Close North" and "Close South" are fully functional and have been occupied by end users. In the re-sale market, the apartments are available in the range of Rs 4,800-5,200/sq ft. Vatika City is also fully occupied and a three-bedroom apartment here is available for Rs 1.05 crore to Rs 1.10 crore.
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. The capital prices prevailing in the retail segment and office space are approximately Rs 9,000 and Rs 7,000 per sq ft respectively.
Overall, Golf Course Extension road has good developers, prices are still low and with a proposed Metro, the connectivity will also be good. But the investment
horizon should not be short term but long term, say 10 years.
Courtesy by : Times PropertyDtd : August 21, 2010
by: Zameen Deepak
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