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Haryana on fast track

   

Haryana has witnessed a considerable growth in supply of residential properties in the last two quarters of 2010, initially in affordable and subsequently in luxury or high end segments. The FDI-funded projects have also contributed to this supply of residential properties. Affordable housing schemes launched by developers like DLF and Unitech have been sold out within no time.

For example, Unitech launched three projects under the affordable housing scheme in the middle of 2009, namely Uniworld Garden II, Uniworld Residences and Sunbreeze, and all the three projects were sold out in the price band of around Rs 3,000-3,500 per square foot within a span of four months.

Similarly, in the luxury segment, the Golf Course Extension Road became the hot spot for futuristic develop¬ment, with emerging developer brands like IREO, M3M, Pioneer, Tata, Bestech, Emaar MGF, having started high-end proj¬ects. Some of these upcoming residential projects in the state include: Sidharatha NCR One: This is a group housing project by the Sidharatha Group in Haryana. It comprises five towers having G+23 floors of 2-4 BHK apartments, with amenities like swimming pool, club house, children's play area, gym, etc. The project is likely to be completed by December 2013. Grand Arch: This is a residential complex by Ireo in Gurgaon. Spread over 20 acre, it comprises two, three, four bedroom apartments and five bedroom pent houses in sizes ranging from around 1,375 sq ft to 9,897 sq ft. Lavanya: This residential complex by Vipul Ltd in Gurgaon comprises 10 towers of G+14 floors having 570 apart¬ments of 2-4 BHK with amenities like a swimming pool, club house, gym, etc.

Upcoming commercial developments With a large number of manufacturers and businessmen entering the market and rapid connectivity through excellent roads and metro trains in the leading cities, the product supply and services are seeing progress. This rising growth is set to translate into large properties in the real¬ty market for building, business centres, with premium and affordable spaces to rent out or sell. Investors are flocking the property market in Gurgaon to grab upcoming 'commercial projects', which are mostly being launched in areas that have less development but are expected to develop.

Aiming to boost tourism prospects in Haryana, the state government has decided to establish 11 new projects under public-private partnership model at various places, including famous tourist destinations like Surajkund and Kama Lake near Karnal.

Some of these upcoming commercial projects include: Spaze Corporate Park: This commercial tower by Spaze Towers Pvt Ltd com¬prises two towers having G+12 and G+8 floors of office spaces. It is likely to be complete by January 2014. Southern Peripheral Road: Haryana Urban Development Authority plans to construct the 17 km Southern Peripheral Road (SPR) in the next four months. The SPR will connect the Faridabad-Gurgaon

   
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