One of the possible ways property in Gurgaon may appreciate is through better connectivity with New Delhi and better connectivity within Gurgaon. Today hundreds of thousands of people commute to Gurgaon to work. This leads roads from Delhi to Gurgaon to become congested with traffic. If real estate in Gurgaon is to move up the value chain the suburb must enjoy better connectivity with New Delhi and provide an easier commute within Gurgaon. Already there are some positive signs for the revival of residential projects in Gurgaon among which is the increase the number of commercial properties that have been rented to businesses. A greater connectivity and smoother flow of traffic between Delhi and Gurgaon could likely further enhance the attractiveness of Gurgaon as a real estate destination.
A micro market of Gurgaon often referred to as New Gurgaon has a large number flats which remain unoccupied. Though many projects in Gurgaon at Sectors 75 to 80 (part of New Gurgaon) have been completed, buyers have been unable to move in due to the lack of roads in the region. Recent initiatives by the Haryana Urban Development Authority are aimed at rectifying the ills of New Gurgaon by making the locality better connected with Gurgaon and hence with all of NCR as well. It is estimated that the largest number of residential flats in Gurgaon are at Sectors 75 to 80 and better roads in the region are likely to lead to a significant increase in the value of properties here. Better roads at New Gurgaon shall also raise the regions livability index.
In the future there may be a metro link connecting Dwarka to Gurgaon, this is likely to be welcomed by the residents of Dwarka as well as those of the Millennium City. Greater connectivity between these two large and important residential regions shall certainly ease the burden of commuting to Gurgaon for the residents of Dwarka, a large proportion of who do so today daily by road. Residents of Dwarka who commute to Gurgaon today either do so by road or by taking a longer route via the Metro, direct metro connectivity shall save a great deal of time for many residents of Dwarka. The better connectivity between the regions is likely to have a positive impact upon property in Dwarka but its impact upon affordable and luxury apartments in Gurgaon may be more subdued.
A project expected to further boost the attractiveness of property in Gurgaon is a proposed connection with New Delhi via “Pod Taxis”. The project currently in early phases of feasibility shall be welcomed by both real estate developers in Gurgaon as well as by the residents of the city as it will provide better connectivity for residents of Gurgaon to North Delhi. Upon completion the project is expected to connect Gurgaon with Dhaula Kuan in Delhi via driverless pods suspended in the air on a ropeway. The greater connectivity of Delhi with Gurgaon is also likely to bring respite to a large number of travelers who arrive at IGI Airport and then travel to Delhi. As the project will connect Gurgaon with a region of Delhi currently only connected by a usually clogged NH8, it’s successful completion may likely result in an appreciation of the price of luxury as well as affordable housing in Gurgaon.