Insiders however say that early completion of NPR is unlikely, as parts of land on which this Road is coming up—in New Palam Vihar, Kherki Daula and some other areas—is under litigation. “It is unlikely that this issue will be resolved soon. Not only the Road, but sector level infrastructure is yet to come up,” says Sanjay Sharma of Qubrex. He adds that with Courts taking a more humanitarian stand on land acquisition and siding with farmers, the solution could be further delayed.
The infrastructure in these sectors is also pretty basic, with only village roads available right now to connect the huge apartment complexes that have come up in the area. In fact there is still no sign of the Master Road Network, Master Sewage Network and other basic facilities that have to be built by HUDA, as the external development agency.
Some of the builders who have projects in Sector 109 to 113, falling near villages Chauma and Bajghera off Palam Vihar, will benefit from the close proximity to Delhi, as well as a developed eco-system nearby. The major projects in this area include Diplomatic Greens by Puri, Mahindra Aura, and projects by Rahejas, Chintels and Sobha Developers.
However a huge ‘unauthorised colony’ in the form of New Palam Vihar, surrounding these posh condominiums, lack of sewage and storm water drains, and poor roads need to be taken care of urgently.
The slow speed of infrastructure development by HUDA and other government agencies has in fact become a cause of concern for the builders. Many of them had announced the projects in the hope that NPR will be completed by 2012. Nayan Raheja, Executive Director of Raheja Group, in an earlier interview with Friday Gurgaon had said that the slow growth of infrastructure, particularly in these sectors, was affecting real estate companies badly. He had even said that despite the lack of infrastructure, his company will handover the flats to buyers, as they did not want to delay possession. HUDA officials meanwhile say that plans are on the anvil to develop roads, sanitation, sewage and storm water drains in these sectors soon.
While HUDA works out plans for these sectors, the builders are outdoing one another in announcing new projects – despite the fact that there is little hope for proper development of this area over the next 5 years.
Sanjay Sharma of Qubrex says that a majority of buyers here are investors. “Most of the people have invested here as prices are still less compared to other parts of New Gurgaon,” says Sharma. Currently the going rate in this area is between Rs. 3,200 and Rs. 8,000 PSF for premium properties.
These Sectors still have a lot of catching up to do with the rest of the New Sectors/Gurgaon II, as tall residential buildings stand amidst green fields, and are connected by kuccha roads. Real estate analysts however says that these sectors will ultimately come out winners, as they are the closest to Delhi, have proximity to the International Airport, and the rates are significantly lower. The NPR will ensure seamless movement of people from Delhi to Gurgaon, and upto Manesar. The planned metro connectivity in the future, along with the transit rail project, could also be a major booster for growth.
Around 6 to 7 million square feet area will be developed as office and retail space in the commercial corridor.
While buying an apartment in this area could be a profitable proposition, analysts point out that a time horizon of at least 5 years should be kept in mind. Most of the builders have slowed down construction, owing to lack of infrastructure development, and the slow pace of NPR.
Sharma says that while Sectors 81 to 95 have reasonable connectivity with National Highway 8, the Sectors from 99 to 115 are a little cut off. This could lead to sluggish growth.
The quality of support infrastructure and civic services, and the ability of the developers to deliver quality projects on time will ultimately decide whether these New Sectors turn out to be the promised land.
With existing Gurgaon already challenged, how will these New Sectors be provided the basic services on a sufficient, timely basis? The Master Plan has only some answers.