Pataudi Road: Still within reach

Sep 29 2012, 11:11 IST
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SummaryGiven its close proximity to major industrial hubs and situated at the intersection of major roads, the area would see more supply resulting in prices being kept under check

Pataudi Road is located in the vicinity of three major highways — Gurgaon Expressway (NH-8), the upcoming Kundli-Manesar-Palwal (KMP) Expressway and the Dwarka Expressway, (which is expected to be completed in two years). Further it is adjacent to the Manesar Industrial Estate and next to the proposed Reliance Special Economic Zone.

This is one of the five hubs of development in Gurgaon and one can easily say that these commercial hubs are providing direct and indirect employment to approximately half a million people. Dwarka Expressway as and when it comes up, will act as a lifeline to Pataudi Road after NH-8.

It will provide a direct link to IGI Airport and will also enable a major reduction in travel time between Delhi and Gurgaon. This area is also proposed to be connected by metro link and that will really give big boost to livability.

With an increasing number of companies shifting their offices and factories to IMT Manesar, there will be an increase in the employment and workforce in the area.

As a result, the demand for housing in neighbouring localities, and most of all Pataudi Road, will increase. Due to these reasons, this area had emerged as a favourite destination for residence and investment over the last two years. The area is poised to offer good future connectivity and livability, four to five years down the line.

With the rise in demand, the projects like 'NCR Green' and 'The Addresses', which were launched at the price range of Rs 2,000 per sq ft 18 months ago, are now selling around the range of Rs 4,000 per sq ft. The property rates of this area have witnessed an average hike of approximately 25 per cent per annum over the last 2-3 years.

Sectors such as 89, 92 and 95 on Pataudi Road have seen a higher appreciation in prices, as they are in close proximity to Dwarka Expressway and IMT. For the mid-segment end user however, this area still is available at a price point of less than Rs 5,000 per sq ft (all inclusive) and thereby may still not be out of reach.

The administration and authorities around this area are more focused on a comprehensive and multi-dimensional development of the infrastructure and economy. While there will be demand, there is another pull factor to this area, i.e. commuting from Gurgaon within reasonable time. As real estate in Gurgaon

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