Proximity matters

If you are looking for a home in a new project in Delhi,you will either have to be extremely lucky in finding a resale property in DLF...

If you are looking for a home in a new project in Delhi,you will either have to be extremely lucky in finding a resale property in DLFs Capital Greens project on Shivaji Marg,Moti Nagar,or have tremendously deep pockets to book a flat in one of the few luxury construction coming up in the capital. For those working in Delhi,purchasing a house has usually meant compromising on space,or on location. Moving to the citys satellites has been the option that most are willing to take. While one may argue that Gurgaon lacks on planned infrastructure,developments taking place in Sectors 109 and 108 hope to change this perception.

Located just beyond the border with Delhi and adjacent to Palam Vihar,this area is ripe for development. Though reaching it is a bit of a hassle at present,the pace at which the area is seeming to develop ensures rapid connectivity. Barely a half hour away from Dwarka in south-west Delhi,once can reach these sectors via Bijwasan and then through Palam Vihar. The area is also accessible from NH-8 via IFFCO Chowk and then on to Atul Katari Chowk and Palam Vihar.

There is a master plan to build a model road from Dwarka through these sectors,right up to the Gurgaon SEZ and NH-8. Metro connectivity is also on the cards connecting Gurgaon to Dwarka via Sector 109, says Ajay Kumar,a broker in Palam Vihar. Developers like Indiabulls,Raheja,Mahindra Lifespace and Aspire have all nvested in property here. Clearances and approvals have been received. The developer with the clear lead in construction here is Raheja who has three projects lined up, he adds.

While the luxury homes offered by Rahejas Atharva project may not be suited to everyones budget,the company claims to have already had 90-95 per cent bookings for their premium 3-BHK and 4-BHK units. With the top-end apartments being sold for close to Rs 1.2 crore,the developer has not compromised on amenities and floor specifications. Sharing the same complex will be a lower-priced project called Shilas,excavation work for which has started. However,brokers say,the cheaper,and hence smaller,units have already been sold out. The Atharva should be ready for possession by early next year.

Broker Vikas Yadav,says It will take time for other developers to start construction here as connectivity is still an issue. Look at Palam Vihar,the area has seen rapid development ever since public transport here improved. I feel that by the year end things should improve in these sectors. Adds Kumar,There are a lot of smaller plots here where construction is yet to start. Once it does,there will be a mushrooming of commercial spaces as well. These will force the local administration to improve roads and transport.

While it will take time for these developments to see the light of day,projects in these sectors still manage to offer good investment avenues. The luxury homes being constructed here are expected to appreciate in value. It remains to be seen how other developers plan and bring up projects in the area.