Hi Guys,

I am looking to purchase a 2BHK in Gurgaon with a budget of around 80 lacs for end use. I can wait for 2-3 more years to get possession but would prefer it in a good project with all amenities.

I have shortlisted two areas 1. Sohna Road and 2. Dwarka Expressway, the prices are more or less similar at both these locations and Dwarka expressway seems like will be a much more upmarket area in the future, but not sure if it's pure marketing gimmick by builders.

In Sohna Road, I have seen that prices are appx 6000 psf, but there is a project called Era Skyville, which is available at around 4000 psf. Not sure why it is discounted almost 50%. Please advise if there are any issues with the builder,project etc.

In Dwarka Expressway, again, I saw Era Cosmos seems to be around 4000 whereas others are around 5-6K psf. Again, is there an issue with the builder, project?

What should be chosen? Dwarka expressway or Sohna Road and which are good projects for end use completing in the next 2-3 years.

Gaurav
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  • one suggestion please avoid ERA projects whether it is 103 or 68

    Thanks

    instead of ERA Cosmos city 103 go for
    1 siddartha estilla 103
    2 satya 103

    rates of both of the project is less than 4500 but atleast 100 times better than and safe than ERA

    in sohna road i don't think any project is there of 4000 but avoid ERA and also READ full thread of ERA COSMOS CITY and ERA skyville.

    Thanks
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  • Though sohna road is livable at the moment, i didn't like the place when i was buying a flat 2 years ago...and i still don't like it..a lot of offices have shifted to sohna road including mckinsey's knowledge center and some other good firms but still the area gives a strange feel (this is my point of view and in no way i am demeaning the people who re invested in sohna road area)

    It has some really good properties - bestech/vatika/orchid petals/omaxe's de nile etc. but the new ggn/DEW will come up much more nicely as compared to sohna road. and since u can wait for 2-3 yrs i suggest that you go for sec 8x/9x or DEW..
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  • Thanks a lot. But aren't 8x projects on the other side of toll ahead of herohonda chowk? Wouldn't that be a spoiler?

    Also which projects are the best for my budget from an end use perspective at sohna or expressway?

    Sent from my Galaxy Nexus using Tapatalk
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  • Originally Posted by gauravbatla
    Thanks a lot. But aren't 8x projects on the other side of toll ahead of herohonda chowk? Wouldn't that be a spoiler?

    Also which projects are the best for my budget from an end use perspective at sohna or expressway?

    Sent from my Galaxy Nexus using Tapatalk

    Hero honda flyover is cleared but not going to be reality for another 3 years..once people start living in these sectors..KD toll will definitely go..it has to go..sp don't let the toll affect your decision of buying a house of you intend to move after 2-3 years from now..during the construction of hero honda flyover all the traffic will be directed via SPR - Shona Road - Rajiv Chowk..so these sectors anyway won't be lucrative to live in..except if you don't have a choice. DEX even with NPV solution will struggle to get end point connectivity for another 4-5 years atleast..by that time 8X will be completely habited and an independent economy..
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  • Originally Posted by gauravbatla
    Thanks a lot. But aren't 8x projects on the other side of toll ahead of herohonda chowk? Wouldn't that be a spoiler?

    Also which projects are the best for my budget from an end use perspective at sohna or expressway?

    Sent from my Galaxy Nexus using Tapatalk


    in 2007-2008 sohna road was not livable..i once wandered there after office hours and felt that i could be robbed..there was just one drinking place and nothin else..not even a proper road..but today things are v diff... in 2007 there was no road after ardee city connecting sec 56..it was scary to commute in that area during night time..in 2005/06 a gangster was shot in one of the societies in sec-56..i was living on rent there back then...the road in front of sun city was crap...often during rainy season trailers used to get stuck in the mud..

    bercos and a restaurant in sun city (i forgot the name) were only decent places..parsvnath exotica was launched at rates which today would be mouth watering..there was a time when u cud fly on golf course road...there was no road connecting princeton/carlton to ardee city road..

    this was gurgaon..

    and pretty similar stories for bangalore and panchkula (the place to which i belong)..sec 20/21 were jungle..and today they re so crowded...

    in 2004 i had gone to IIM bangalore on banargeta road..and i recently went back to college in 2013..the whole area has changed...the property prices have skyrocketed there..in 2004 that place was so secluded..and today there re traffic jams during peak hours..

    Point is --- if u can be patient till 2017/2018..then new ggn/DEW is the place to be in....you can get a MUCH MUCH BIGGER flat at the price in which u will get a 2bhk on Sohna/SL/GCX etc....i have seen ggn change..it shifted from sec-14 to mg road then to Golf course to sec 56 to sohna and may shift to gcx..and on other side from SL1/south city to south city 2 etc..i missed a lot of opportunities..because i couldn't visualize the future n wasn't patient..i advise u to believe in future..be optimist..be patient..and go for new ggn/DEW..5 yrs from now u wont repent the decision..
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  • Originally Posted by gauravbatla
    Hi Guys,

    I am looking to purchase a 2BHK in Gurgaon with a budget of around 80 lacs for end use. I can wait for 2-3 more years to get possession but would prefer it in a good project with all amenities.

    I have shortlisted two areas 1. Sohna Road and 2. Dwarka Expressway, the prices are more or less similar at both these locations and Dwarka expressway seems like will be a much more upmarket area in the future, but not sure if it's pure marketing gimmick by builders.

    In Sohna Road, I have seen that prices are appx 6000 psf, but there is a project called Era Skyville, which is available at around 4000 psf. Not sure why it is discounted almost 50%. Please advise if there are any issues with the builder,project etc.

    In Dwarka Expressway, again, I saw Era Cosmos seems to be around 4000 whereas others are around 5-6K psf. Again, is there an issue with the builder, project?

    What should be chosen? Dwarka expressway or Sohna Road and which are good projects for end use completing in the next 2-3 years.

    Gaurav


    The stretch from Subhash Chowk to Badshahpur junction is the present liveable Sohna road and prices are between 8500 to 10000 psf. Brokers keep confusing the 'Sohna' projects with sohna road and the one's on SPR also are sometimes confused with sohna road. Sohna road doesn't have anything less than 8500 now.
    CommentQuote
  • Originally Posted by tyler_durden
    in 2007-2008 sohna road was not livable..i once wandered there after office hours and felt that i could be robbed..there was just one drinking place and nothin else..not even a proper road..but today things are v diff... in 2007 there was no road after ardee city connecting sec 56..it was scary to commute in that area during night time..in 2005/06 a gangster was shot in one of the societies in sec-56..i was living on rent there back then...the road in front of sun city was crap...often during rainy season trailers used to get stuck in the mud..

    bercos and a restaurant in sun city (i forgot the name) were only decent places..parsvnath exotica was launched at rates which today would be mouth watering..there was a time when u cud fly on golf course road...there was no road connecting princeton/carlton to ardee city road..

    this was gurgaon..

    and pretty similar stories for bangalore and panchkula (the place to which i belong)..sec 20/21 were jungle..and today they re so crowded...

    in 2004 i had gone to IIM bangalore on banargeta road..and i recently went back to college in 2013..the whole area has changed...the property prices have skyrocketed there..in 2004 that place was so secluded..and today there re traffic jams during peak hours..

    Point is --- if u can be patient till 2017/2018..then new ggn/DEW is the place to be in....you can get a MUCH MUCH BIGGER flat at the price in which u will get a 2bhk on Sohna/SL/GCX etc....i have seen ggn change..it shifted from sec-14 to mg road then to Golf course to sec 56 to sohna and may shift to gcx..and on other side from SL1/south city to south city 2 etc..i missed a lot of opportunities..because i couldn't visualize the future n wasn't patient..i advise u to believe in future..be optimist..be patient..and go for new ggn/DEW..5 yrs from now u wont repent the decision..


    What do you think was the reasoning behind such an expansion? In my opinion, the surge of MNC's made the overall real estate market AFFORDABLE (From 2002 - 2009). It was a period where outsourcing/bpo/kpo industry grew exponentially.
    It was not that difficult to buy a 40-50L apartment. Everything was positive, there were good appraisals, lot of jobs in the market and it was a period where US/Europe enjoyed good growth.

    To fill up new GGN\DEW we need new end users:

    Is the market affordable?
    Are salaries growing at 10-15% year?
    Is it easy to swicth jobs as compared to 2007?
    How is the economy doing?
    Compare supply of 2007 vs 2014, is it similar?

    I personally know people earning 15-20L CTC and they can't afford to buy an apartment for next 3-4 years. Not sure from where we will get these new end users.
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  • If we talk about uncertainity in bpo/kpo/IT industry jobs then the present scenario is a lot better than 2007-08.
    There re no massive job cuts at the moment and no fear of some global bank/ins company going bankrupt. And a person with 20 ctc can easily afford a 2 bhk on DEW or in new ggn with a budget of 60-70 lacs. In 2009 one could get a 3 bhk in SL1 for 70 lacs. One of my relatives purchased a 3bhk for 68 lacs near gold souk in early 2010. At that time 70 lacs seemed a lot to him given his salary. In next 3 yrs his salary would have become 1.3-1.4x but his property has almost doubled in value.

    And at one point of time a salaried person has to stretch if he dreams to own a house
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  • My understanding to your queries are followings.

    On an average launch prices on DEW & New GGN was 5 -6 K in 2012 (I am not considering projects launched more than 6K).

    After 2016/17 situation may be followings.
    1. Golf course road (current rate 10-15K) -- expected rate 2017 is 15-20 K
    2. Sohan Road (current rate 8-10K) -- expected rate 2017 is 14-16 K
    3. Dwarka, Delhi (current rate 12-14K) -- expected rate 2017 is 16-18 K

    I do not know the rates of South Delhi and other part of Dehli which is closure to Gurgaon, hence not able to compare.

    In 2016/17, I feel that there will some population who can not afford (low of affordability)
    1. Golf Course Road at 15-20K, people will move to DEW to buy luxury project at 12-16K
    2. Sohan Road 14-16 K, people will move to DEW to buy property segment at 10-12 K
    3. Dwarka, Delhi 16-18 (without much facility), people will move to DEW to buy property at 14-16 K

    I think the above is natural. People will buy their houses as per their affordability capacity

    It is assumed that by 2016/17 followings are cleared.
    1. DEW is built and operational
    2. All sector road are built and operational
    3. Commercials are operational
    4. Schools, hospitals, and other facilities are in place
    5. Other infrastructure and street light, drainage, etc is in place.

    I am optimistic that above should be more or less will be in place,

    Let's wait and watch...

    Originally Posted by Kalesh
    What do you think was the reasoning behind such an expansion? In my opinion, the surge of MNC's made the overall real estate market AFFORDABLE (From 2002 - 2009). It was a period where outsourcing/bpo/kpo industry grew exponentially.
    It was not that difficult to buy a 40-50L apartment. Everything was positive, there were good appraisals, lot of jobs in the market and it was a period where US/Europe enjoyed good growth.

    To fill up new GGN\DEW we need new end users:

    Is the market affordable?
    Are salaries growing at 10-15% year?
    Is it easy to swicth jobs as compared to 2007?
    How is the economy doing?
    Compare supply of 2007 vs 2014, is it similar?

    I personally know people earning 15-20L CTC and they can't afford to buy an apartment for next 3-4 years. Not sure from where we will get these new end users.
    CommentQuote
  • rp sir -- In vasant kunj the DDA flats are traded in vicinity of 15-17k/sqft, depending upon floor, sector etc...rate is a lot higher in GK/kailash colony (am talking about floors)
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  • yes there was a boom a big boom where property prices became 10X in 10 years also, its good to be positive but do not expect such exponetial rises all the time, market is headed for correction and anything above 10K sft will not have any buyers no matter the location, so do not think that it will go on rising every time that too at such bloated price levels, fyi already many pocked prices have corrected by 30-40%, properties of 10k - 18k (delhi) are available at 8K - 12K now
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  • Seniors Need Advice !

    I am looking to buy 3bhk apts in budget of 1cr. I stay in sec 10 A ( Near Hero Honda Chowk) and have to buy another flat for my parents who wish to shift in 2-3 years time. I searched alot around Sec69-70 and choose Tulip Violet ( 1578 3bhk). Once I compare my decision to properties available in New GGN like Dlf NTH, Bestech Ananda and others I get facinated with the flat area they are offering but then I personally think sec 70 will be better in terms of prices / location. Moreover will the New GGN be habituated in case I have to let out on rent in near future ?
    Pls suggest which area to look for and which projects in the budget of 1 cr .
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  • Hey. Most of you say sohna road has nothing available below 8500 but spire south is also around 4500. New project by pareena is around 5700. So does spire south makes sense?

    Also in expressway what's the best project for a 2 bhk in my budget?

    Sent from my Galaxy Nexus using Tapatalk
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  • If i'm nt wrong there were some issues with spire..do ur due diligence...
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  • And what about dwarka expressway. Any sub 5000 projects?

    Sent from my Galaxy Nexus using Tapatalk
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