Realty Booming in Golf Course Extension Road

After the rapid development of the Golf Course Road, it’s the Golf Course Extension Road that is witnessing the next round of development. The level of development and the quality of construction is high here and almost all the major builders have their projects in the area providing modular and fully furnished apartments. With property rates increasing every day, property in Sector 66 and Sector 67 of Gurgaon is becoming really hot to invest in.

 

Properties in Sector 66 and 67 of Gurgaon are being called and posh already, looking at the type of constructions happening here. The area has the top builders with best quality of houses laced with all kinds of modern amenities available, the prices are bound to rise and how. Property is worth crores here already and the projects get fully booked even before they begin construction and by the time they are complete, they are resold at double the prices.

A drive down the Sector 66 and sector 67 of Gurgaon makes one find a concrete jungle being erected by builders and construction is on in full swing. Being one of the most prime area for investment in Delhi NCT, the area promises double triple returns in no time. The area is an extension of the Golf Course Road and properties there.

Golf Course Road (GCR)

Because of the Golf Course, the property on Golf Course Road was already valuable and got a further boost when the Metro work commenced and is now on in full swing. The Golf course Road already had major offices of companies like Ernst and Young, Genpact, Mercedes etc the areas also has malls, shopping arcades, multiplexes, high rise apartments and posh residential colonies to boast off.  The Golf Course Extension is being seen as an extension of the same and more. Properties in Sector 66 and 67 of Gurgaon enjoy the legacy of GCR.

 

Ahead of GCR

Coming back to the Golf Course Extension Road, the area is seen as one step ahead of Golf Course Road with homes having power backups, continuous water supply, state of the art facilities and reputed schools. Also, good connectivity and proximity to malls, shopping arcades, multiplexes, hospitals and the commercial hub housing numerous MNCs, the Cyber City, is a plus point.

Realty Rates

Looking at the current market situation the property prices in the Sector 66 and 67 range between Rs 6300 per Square Feet to Rs 15,000 per Square Feet ( Jan 2013 to Apr 2013 figures). The property prices are likely to climb further, as the demand is outstripping supply. With a major chunk of investors being NRIs, who have oodles of dollars, the prices are bound to rise.

Experts see a growth rate of 25 to 50 per cent in the next one to one and a half years as the realty prices for other sectors go up. The sprint is likely to continue until and unless there is an auto correction in the property prices in other parts of Gurgaon.

Trends

Current trends in property in Sector 66 and 67 in Gurgaon reflect an increase of 15 per cent on a quarter on quarter basis (January To April figures) which is because some projects are not complete and after they get completed the prices may rise exorbitantly. The property in Sector 66 and 67 is getting expensive by the day, hence if you want to invest, the time may be right or may be adopt a wait and watch policy till market correction happens; if it happens at all.

The Author writes on behalf of 99acres which is a leading online real estate portal providing information about the current real estate trends, sale studio apartments, serviced apartments and different properties available across various cities in India.