Gurgaon - Maneasr Urban Complex Masterplan 2031 to Boost Real Estate
By making 14,930 hectares available for residential, and 1,404 hectares for commercial development, the new Gurgaon Masterplan is expected to boost real estate development in Gurgaon. Market sources expect the new supply could be good news for the middle-class— apartments at Rs 2,000-2,500 per sq ft in a market where very few are available for less than Rs 2,700 per sq ft. This could also lead to some price correction in developed areas, say realtors.
Prices in the new sectors being created under the plan will be at least 30-40 per cent lower than in existing sectors. You can expect the same rate differential between Noida and Gr Noida in Gurgaon and Greater Gurgaon.
With more land becoming available, he said, developers will start focusing on the middle and lower segments and not only on high-end housing as they have been doing so far.
Infrastructure will have to be developed fast in the new sectors,” he said. “It will take at least four years before the first project is ready but demand will keep growing. So it’s difficult to see how prices will fall in sectors.
Secondary market prices in areas like Gurgaon-Sohna Rd have already seen a correction of about 10 per cent in the last six months. I expect a further correction of 10 per cent as more supply becomes available in the newly demarcated sectors.
According to market sources, DLF, Unitech, Pioneer Urban Land & Infrastructure, Vatika, Raheja, Vipul, Emaar-MGF, and Ambience group are the key players who have “land banks” in the newly demarcated sectors, and could be expected to launch projects in the near future.
Developers are cagey about revealing the price band at which they will launch their projects. Market sources, say Raheja’s projects in new sectors like 78 and 88 could be priced around Rs 2,200-2,500 per sq ft at the time of launch.
Prior to the notification of the masterplan, very few new projects were being launched as most of the land available in residential zone of the previous masterplan had exhausted. And whatever was launched was priced at Rs 2,700 per sq ft and above.
In sectors situated near Golf Course Road, rates will be high, close to Rs 5,000 per sq ft. A project near Sohna Road would be priced at marginally less than Rs 3,000 per sq ft. It is only in the distant sectors that apartments priced at around Rs 2,000-2,100 per sq ft will be available.
End-users will have to be alert and rush in to apply as soon as there’s a project launch. Since rates will be low in the new sectors, investors will try to corner a large portion of the supply.
Rates for group housing in Manesar will be in the range of Rs 2,000-2,200 per sq ft.
i know the map is not very clear..
Yes it is in 83-84 dont worry.. authenticity of that new article cannot be 100%.
As per the master plan 400 is for transport and communication which includes
410=Railway station/yard sidings
though not clear in the map but opposite 84 you do have the 410/420 for metro and ISBT
However, things can change but from my experience with govt agencies not so fast..
As per this article the major proposed changes in Gurgaon Manesar Masterplan 2031 comprises converting the major SEZ designated lands into designated 7 new residential / commercial sectors. At the same time the size of area under development has been reduced despite increased projected population .
There are 2 ways of looking at it, removing sez means that the employment opportunities in new gurgaon areas are that much reduced and they have to largely depend on the clusters exisiting in the GCR/ sohna road / nh8 areas near delhi gurgaon border and also existing manufacturing hub along nh8. The things added are wholesale markets near new sectors & heavy vehicle parking areas, which are not a great alternative to sez as far as employment is concerned.
another way to look at it is this allows more residential space in the new sectors creating a high density residential cluster in gurgaon, which will make it the residential core of gurgaon
which will finally pan out needs to be seen and how soon. Hope there is clarity on the creation of other infrastructure in this masterplan related to water/ power/ transport etc.
GURGAON: Gurgaon has many names. For some it's Millennium City, for others Silicon Valley of India. But Master Plan 2031 has shattered the city's dreams of acquiring another name for itself, SEZ capital of India.
While Master Plan 2021, which was published in 2007, conceptualized new development around special economic zones (SEZs) in Gurgaon and Manesar, the term has disappeared altogether from the latest draft of Master Plan 2031. As a result, the new master plan drastically cuts proposed area for urbanization to 32,408 hectares from 37,069 hectares in master plan 2021. This despite the fact that projected population in the new master plan has been increased to 41.65 lakh from 37 lakh in plan for 2021.
While most of the area demarcated as special economic zone (SEZ) in earlier plan was proposed to be developed by Reliance Industries Limited (RIL), it has now been converted to agricultural zone. Earlier this year, the state government had decided to take back 1,383 acres land from RIL as it failed to implement the SEZ project.
Similarly, a major chunk of land on the northern side of Pataudi Road has been converted to residential and commercial zone. New sectors — 95A, 95B, 89A, 89B, 88A, 88B and 99A — have been proposed in this area covering villages like Wazirpur, Hayatpur, Mohammedpur, Garouli Khurd, Garouli Kalan and Harsaru. Interestingly, villagers from these areas claim that a lot of real estate developers have already purchased land from them.
In 2007, the state had proposed to develop as many as 60 SEZs in Gurgaon district. Five of these SEZs were in the category of multi-products/services while 36 belonged to IT/ ITeS. A few of the mega SEZs included the HSIIDC-RIL joint venture that was to urbanize over 25,000 acres of land. This was when the state government had approved a plan to transfer nearly 34% of Gurgaon's agricultural land to SEZs.
The Master Plan 2021 talked about providing additional connectivity with Delhi through roads like the 150-metre wide Northern Peripheral Road (NPR) and 90-metre wide Southern Peripheral Road (SPR). It also included three major roads connecting Delhi and Gurgaon like Vasant Kunj to MG Road, among others.
Similarly, Master Plan 2025 proposed a Transport Nagar spread across 28 hectares in Sector 33. This was to be developed by HUDA. A container depot had also been proposed adjoining Delhi-Rewari railway line. A Mass Rapid Transit System Corridor (MRTSC) along the NPR was proposed. Another MRTSC was proposed along Mehrauli road to extending up to the proposed 90-metre link road with Delhi via Gwalpahari. The 2025 plan suggested realignment of Badshahpur Nala that runs along Sector 58 and 67.
The latest plan has approximately 50 hectares reserved for wholesale markets of building material, grain and vegetable market in Sector 99-A, on the northern side of railway line along newly proposed 75 metre-wide road. Also, a nearby area of 40 hectares has been reserved for idle parking where heavy vehicles can be parked. The changes in the master plans between 2025 and 2031 look substantial only on paper as emphasis has been put on developing the infrastructure to keep pace with the explosive growth of the city.