Once a sleepy village of about 1,000 dwellings units on Delhi-Jaipur Highway (NH-8 ), Manesar has now transformed into an industrial and commercial hub.With the availability of all basic services like health facilities, schools,a post office,banks,warehouses and cargo facilities, IMT Manesar has seen a massive influx of corporate traders, realty players, manufacturers, industrialists, and also MNCs.

Only 32km from the IGI airport and 45km from Connaught Place, Delhi, Manesar is well connected to Delhi and Gurgaon. The real estate market in Manesar has been growing at a frenzied pace ever since several top MNCs moved in here. Rates of commercial properties in Manesar have increased by 35-40 % in the last six months.

Residential properties in Manesar have also hopped on to the boom bus, and have witnessed an excellent jump of 35-40 %. IMT Manesar is projected to have a shortfall of over 6 lakh housing units over the next 4-5 years,whereas the availability of authorized housing will only be around 65,000 units in the same period.

Thus,the price escalation of property here is bound to be steep. The new developmental plan for Gurgaon-Manesar Urban Complex has been formulated taking into consideration the projected growth of the city up to 2025. The Gurgaon-Manesar Master Plan projects a population of around 40 lakh by 2020. With infrastructural developments taking place at a good pace, Manesar is all set to become an ultramodern city.

Praveen Kumar, the administrator of HUDA, Gurgaon, says: "The Haryana government is intent upon building Manesar as a mega education city, along the proposed 135km long Kundli-Manesar-Palwal (KMP) Expressway, which will connect Sonipat district with Palwal in Faridabad district. The road takes off from Kundli on NH-1 and passes through Bahadurgarh in Jhajjar district, the proposed special economic zone on NH-10 and Manesar in Gurgaon district on NH-8 .It will terminate near Palwal on NH-2.

The government has acquired 2,000 acres for the education city and is all set to make Manesar a dream destination for education." Rakesh Yadav,the managing director of Antriksh Group, says: "The unique aspect of Manesar is the simultaneous development of residential complexes for both executive and non-executive staff. The HSIIDC acquired 250 acres across the national highway and has allotted it to various units for building staff quarters there." The commercial property in Manesar offer state-of-the-art office spaces.

Already, leading global brands like Toyota, Mitsubishi, Honda, Suzuki, etc, are making colossal investments in Manesar real estate.Also,the proposal to build an expressway to Jaipur is adding value to Manesar's real estate. Most of the topnotch builders in India like Reliance, DLF, Unitech, Raheja, Vatika, Orris Infrastructure, Amrapali, Antriksh, etc, have already bought land banks on this stretch to develop townships.

The Raheja Group has launched Raheja Navodaya.Based on a high quality urban community living concept,the project is located in Sector 92-95 adjacent to IMT Manesar. The Amrapali Group has launched a commercial-cumcorporate hub, on 6,804 sq metres in Sector 2, IMT Manesar, opposite the Honda factory.

Anil Sharma, the chairman and managing director of Amrapali Group, says: "Manesar will emerge as a Mecca of industry-specific infrastructure, service ancillaries, commercial services, and an array of other essential services. The developing area is a perfect choice for trade towers, corporate offices, industrial units and shopping malls. A flyover on NH-8 , which links the residential zone with the industrial zone, has helped in making the city more alluring to end users."

Navin M Raheja, the chairman and managing director of Raheja Group, says: "Raheja Navodaya is aimed at providing international-quality housing to the residents of the Delhi NCR, including the executives of IMT Manesar and peripheral industrial areas of Gurgaon and the SEZs. It is a high-potential area for actual usage and investment, as there is really no authorized housing facility available to the over two lakh executives at IMT Manesar. The USP of the project is that only 20% of the total area will be covered while 80% will be open greens."

Vijay Gupta, the chairman and managing director of Orris Infrastructure, says: "We can say that Manesar is at the same juncture in industrial, commercial and residential development as Gurgaon, some 10-15 years ago. With a rise in demand for land, the national capital is facing acute shortage of space and thereby the cost of the land keeps increasing. The development of Manesar as an alternative would address some of these problems and offer a new opportunity of colonization."

The place is all set to become a vibrant commercial hub shortly. The NH-8 is being widened to an eightlane expressway, between Gurgaon and New Delhi; flyovers have been planned on this stretch, which will make the road signal-free and reduce the commuting time.

Realty boom in Manesar: Real estate market growing at a frenzied pace - The Economic Times
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  • another paid article
  • Yes, looks like one .

    Originally Posted by amit.bhalla
    another paid article
  • Real estate highs and lows at Manesar

    Manesar was envisaged as a model township encompassing residential real estate as well as commercial office and industrial establishments. Hence, it was appropriately christened as IMT (Integrated Manesar Township). This area was primarily expected to see development riding on the back of industries setting up shop there. With a plethora of operational industrial units, it would be appropriate to call it an integrated industrial park.

    With an area of 1,750 acres, development in Manesar has been regulated since 1997 by the HSIIDC, which is primarily creating an industrial area that will enable the state to take centre-stage in North India in terms of industrial competitiveness. The vision is to provide and upgrade existing facilities which will encourage industries to set up shop in this area.

    Sector-8 in Manesar was auctioned by HSIIDC to various development companies and corporates to set up speculative office buildings and captive campuses. Existing campuses include those of HCL, Agilent Technologies and Bharti Airtel. Speculative developments include IT Parks by Anant Raj, Shapoorji Pallonji, Aarone Group, Vigneshwara Developers and Spire World, among others. These projects are currently suffering from a lack of occupier interest, which has considerably delayed project completion. There are other small industrial buildings in various stages of development in Sectors 3 and 4.
    This industrial belt is favoured by automobiles and auto components manufactures, as seen by the presence of Toyota, Mitsubishi, Honda and Munjal Showa, among others. Maruti Suzuki has set up its second manufacturing plant in Manesar and is making huge investments in expanding its manufacturing strength in this location. In fact, Manesar figures prominently as an automobile and auto component hub in the proposed DMIC (Delhi Mumbai Industrial Corridor) project.

    Infrastructural improvements in terms of the under-construction KMP Expressway (Western Peripheral Expressway) and the upcoming Dwarka Expressway are also expected to make this area more investment friendly. All these elements are expected to spur investments, primarily in the automobile and ancillaries sector in Manesar. Also, with the KMP to serve as the route for heavy vehicles passing through NCR, this area should also see significant investments in terms of developing as a warehousing and logistics hub. Captive and speculative warehousing activity should see more private players getting active in this area. Sourcing firms can also look to set up their supply chain nerve centres in this region.

    Industrial units will continue to remain active in this area. Due to its distance from the established IT hub of Gurgaon, Manesar has seen only limited activity by IT/ITeS players. Such projects in the region are limited to campus developments and marginal leasing activity by a few IT/ITeS players. On account of its low rents, this sub-market should serve as a viable destination for setting up Disaster Recovery or Work Area Recovery sites by big players. This will open up a totally new avenue for IT activity in this area.

    Distance continues to remain a major point of concern in the minds of occupiers. The bottleneck at the second toll plaza at Kherki Daula burdens travel time to and from Manesar towards Gurgaon and Delhi. Infrastructural gridlocks caused by the slow development of arterial and sector roads, their upkeep and maintenance are also major hurdles. Power availability continues to be challenge, and with the erratic supply forcing firms to invest hugely in power back-up arrangements.

    Government efforts to promote industrial activity at Manesar are at odds with the efforts being made to provide the services and facilities which will attract industry and other firms to this region. Most of the speculative stock in Manesar is facing a lack of occupier interest. Upcoming projects are also delayed, as this region figures low on their priority list of expansion or consolidation destinations. All the above factors contribute towards this region’s unrealized potential. All efforts to promote the area will come to naught if the Government continues to drag its feet in creating the required infrastructure at Manesar.

    Currently, only Sector 1 has residential property developments in the form of individual plots and Group housing plots allocated by HSIIDC. A few private developers are active in residential property development in Sector M-1, and a handful of large townships are also under planning around Manesar. The prominent ones include the Vatika Next and DLF Garden City townships. Large land parcels are held by developers like Raheja and Unitech among others, and more residential projects are expected going forward.

    A host of residential townships are planned in sectors 91-95 near Manesar, by the likes of SARE, Anant Raj, Ansal API, Sidhartha and DLF, among others. As these projects come closer to their possession dates and the area becomes more densely populated, the surrounding social infrastructure is also expected to come up alongside. All this should spur the commercial developments in the region.

    The Government of Haryana and HSIIDC have also envisioned setting up IMT-2, for which around 1,800 acres of land have been identified for acquisition. However, the acquisition prices and possession of fertile land for industrialization has led to protests by farmers in this area. Also, as the existing IMT is still grappling with high vacancy rates and slow growth, there is pressure on the Government to drop plans for IMT-2 or to go slow on the land acquisition. It is suggested that the focus should be on developing the existing IMT by providing adequate infrastructure, which will create an atmosphere conducive for industrial activity to thrive in this region and enabling Manesar to realize its full potential.

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