GCE Road is a promising realty destination in Gurugram with a perfect blend of residential, office, retail, and institutional development, which is expected to boost the value of projects in this belt.
One of the fastest-growing localities of the Millennium City, Golf Course Extension Road comprises a perfect blend of residential and commercial activity.
“Golf Course Extension Road has emerged as a viable alternative to the expensive and upmarket Golf Course Road. Developed around the walk-to-work concept, Golf Course Extension has a forthcoming commercial stretch running parallel to the residential projects. With the presence of major corporates like PepsiCo and technology majors as well as highend projects, the area has turned into a promising real estate destination,” Santhosh Kumar, vice-chairman of Anarock Property Consultants, said.
Golf Course Extension is well-connected to NH-8, Gurugram-Faridabad Road, and the forthcoming Delhi-Mumbai Industrial Corridor (DMIC), while the international airport is close by.
The route of Rapid Metro Phase II runs through Golf Course Extension, boosting the connectivity of the area. Traffic congestion is still a challenge on this busy stretch and HUDA has begun to broaden the road.
Social infrastructure: Like most popular areas in Gurugram, Golf Course Extension has developed a sound social infrastructure, which includes schools like DPS International and Lotus Valley International, healthcare centres like Medanta, convenience stores, shopping malls, and recreational centres.
Golf Course Extension Road is home to several large townships and mixeduse developments, with a good mix of ready-to-movein units as well as those under construction.
Several eco-friendly projects as well as golf-themed townships are coming up to cater to the high and middle-income segments.
Anarock research shows that Golf Course Extension has a total supply of 9,500 residential units. Out of these, 3,250 units were launched after 2017. About 47% of this supply is in the “over Rs 1.25 crore” bracket, making it a hub of mid to high-range properties.
“The current price range of residential property is between Rs 10,500 and Rs 15,000 per sq ft, while the average built-up area of apartments on this stretch is 1,400 sq ft. Investment in residential properties on Golf Course Extension has fetched good returns with prices appreciating up to 13% in the last five years. Due to its prime location, good connectivity, and relative affordability compared to Golf Course Road, this stretch continues to be on the radar of end users as well as investors,” Santhosh Kumar says.
Developers are upbeat on the prospects of Golf Course Extension Road.
“Golf Course Extension Road is a perfect blend of residential, office, retail and institutional development. It is expected to create a perfect ecosystem and has boosted the value of projects in this belt. The road has the potential to attract demand for luxury to premium real estate across segments. With the Gurugram Metropolitan Development Authority (GMDA) working on a project to upgrade SPR, the area is set to see rapid growth. The widening of roads and beautification will also be a part of it. With the introduction of flyovers, the stretch is set to become signal-free and ensure a smooth traffic flow by cutting travel time. This construction and the widening of the stretch — from four to six lanes — will benefit residents of the area as well as daily commuters who are set to increase in the coming years,” Pankaj Bansal, director of M3M Group, said.
Gulbir Singh Madan, chairman and founder of Brahma Group, says: “The Golf Course Extension Road will soon become the nerve centre of Gurugram with the establishment of numerous offices, commercial complexes, and residential apartments. A large chunk of the population in this area comprises expats working here. This automatically pushes the bar upwards, compared to other regions in Gurugram. With the functional and forthcoming rapid Metro and underpasses, travel across GCE Road has also become convenient. There is a promising demand for commercial real estate in this area with good returns and considering this rapid development, the residential realty is also likely to get a boost.”
Source : TOI 28 Sept