GCE Road is well-suited for investors as the risks are low here.
Golf Course Extension Road is among the few new areas of Gurgaon that will see end user demand in the near future.
Rajan Ahuja, director of Realty and Verticals, says: "The current real estate market is such that only long-term investment will work now. Gone are the days when you could invest in a project, sell after paying just 20-30% money to the developer, and earn a handsome profit. I expect this area to give a steady return of 20% over the next 4-5 years."
Ahuja says that an investment here will also be safe because you can rent out your property easily due to the high end-user demand expected here. “In many of the new sectors of Gurgaon, a number of properties are ready but they have not been rented for the past one year or so. The same is the case with commercial properties. GCE Road is one area where your property will be rented as soon as it is completed. This makes it a safe investment. Investors must, however, have an investment horizon of at least 4-5 years to earn reasonable gains here,“ Ahuja says.
(1.) Mishra says that apartments here were selling for Rs 2,600 per square foot five years ago, whereas prices have now touched Rs 7,000-11,000 per square foot.
(2.) Over the past one year, the market has been largely stagnant with only properties nearing completion registering appreciation of 10-15%.
(3.) Market watchers say that projects on GCE Road located close to Golf Course Road will see prices appreciate and nearly match prices on Golf Course Road itself, where the current rates are Rs 13,00015,000 per square foot.
Not too many projects have been completed here at present. Currently, 2BHK apartments are available for Rs 15,000-20,000 per month while three-bedroom apartments are available for Rs 22,000-25,000. The rental rate depends on the area of the apartment and its quality.
Street lighting and security need to improve in this area. Connectivity of some sectors like 57 and 61 also needs to improve.