Monday, 16 December 2013

New Gurgaon Vs. New Delhi

New Gurgaon, arguably India's fastest developing suburb with glitzy high-rises and neon-flashing malls, could be on the road to emerging as the new equivalent to South Delhi locations. A look at the rise in property prices over the past three-four years shows why.

Apartments in New Gurgaon, which were priced at Rs 1,825 a sq ft in 2009, now have a price tag of about Rs 5,983 a sq ft, an increase of 227 per cent. New Gurgaon is situated between Old Gurgaon and Manesar is well connected with three highways such as “NH8”, “Kundli–Manesar–Palwal Expressway” and “Dwarka - New Gurgaon Expressway”. Due to these and many such reasons, New Gurgaon would be a very good option for making an investment as compared to Delhi and old Gurgaon.

Legal issues have existed for almost all such highways/expressways, but eventually, returns have been higher in these areas. I had similar concerns and did my own research, spoke to the authorities etc. A very conservative estimation is that it would be ready in 2 years. Once “Dwarka - New Gurgaon Expressway” and “Kundli–Manesar–Palwal Expressway” is functional, it would be the best place to live or work as this is a new development with better planning and infrastructure.