Property search in Gurgaon :
We started out by looking at luxury projects in Gurgaon on Golf Course Ext Road.
The options we looked at were Ireo Skyon, Ireo Grand Arche, Adani Samsara, M3M Merlin,
Ireo Skywalk, M3M Golf Estate, Emaar Palm Drive, Tata Primanti, Central Park.
Pioneer Park, Pioneer Presidia, Dhoot Residency and Conscient.
Also saw Emaar Emerald Floors, which are the red roof independent floors in Emaar.
We also saw Baani mall on the back road in this round.
We also saw Central park in this round.
This covers almost all the luxury projects which are available in Golf course Ext Road
at this time.
Prior to this round, we had also done a round of looking in Golf Course Road,
DLF Phase V, in which we saw Wellington, Carlton, Trinity, Westend and Icon.
All DLF projects and all of them in Phase V.
Within these, Icon and Pinnacle were considered luxury.
We didn't see Pinnacle but we were told that it is roughly the same type as Icon.
Options were available in most of the projects.
-----------------------------------------------------------------------------------
Then we talked to Behrathi and we were told that Ireo and M3M should be avoided
as the quality of these builders are not known. He also advised us to be wary of Emaar.
Then he also confirmed something we saw on the ground on GCER which is that the back
road is seeing all the activity and virtually no new project is coming up on the
main road.
His broker, Sukhwinder showed us flats in Pioneer Park and Pioneer Presidia.
Those flats were good, within budget and Behrathi himself has a flat in Pioneer Park.
But there was an issue with one of the sellers, he was not present at the time.
So it fell off. Pioneer Park is not luxury but Presidia is.
Within this round, we also saw flats in Unitech, Close North, Nirvana Country,
Deerwood Chase and Harmony. Harmony was liked the best, but Unitech projects
have fallen quite a bit because the company's fall.
Among the builders which Behrathi recommended were DLF, Tata, Godrej and Mahindra,
all Indian brands, well known brands.
Among these builders, there are only 2 projects on Golf Course Ext Road,
Tata Primanti and DLF Almeda (which only has plots for sale).
-----------------------------------------------------------------------------------
In the latest round, we had started off keeping luxury project as the main option,
basically to get the resort type feel.
Within this round, we have been discussing 4 areas,
The clutch of societies which are close to Delhi on Dwarka Expressway,
which includes Sobha, Chintels, ATS, Indiabulls,
The socieities within DLF Garden City, like Ultima and Primus.
The societies on SPR, Tata Primanti
DLF Phase V was an option but since the Wellington Carlton, Trinity,
Westend cluth is not considered luxury, it is falling out of consideration.
Icon and Pjnnacle are but they are well above 2. For a 3 BHK.
-----------------------------------------------------------------------------------
So within the luxury zone, there are 4 areas to consider,
SPR, DLF Garden City and Delhi side D Expway.
If rent is a big consideration, then SPR is a better option, since
it is closer to the job hub and will see more appreciation in the short term,
simply because of increase in traffic.
The other option is Pioneer Presidia which is also a luxury option
but is pricey, it is above 2 for all the 3 bhk options we have seen, but
we have kept it in the zone of consideration because of its location.
If rent is a nice to have, but not a must have, then
Garden City is a better option, since you're likely to get a good flat
for a good price at an affordable rate in today's market,
since the market right now is a buyer's market and you'll end up getting
a luxury flat which might be away from the hub, but is truly luxury.
Within Garden City, there are 2 projects to consider, Primus and ultima.
Both are good, both are truly luxury, Primus is a little older,
but it is still a good project.
Ultima is slightly more high end. But they are both equally good.
The place is a bit further along on the highway from Gurgaon.
And tenancy will be a challenge for the immediate future.
And the traffic will also be modest, but these are good projects for the
future.
Behrathi feels that this is a project for the next 5 years.
And that area will be a good area for growth in the next 5 years.
The Delhi side of Dwarka Expway does have some luxury projects, but those
are not good for a rental option for the immediate to near future.
the highway is being built and that will increase the connectivity of this
area, but this is also an option for the future.
-----------------------------------------------------------------------------------
If the clover leaf comes up on the highway between SPR and CPR,
then the growth of both Primanti and Garden city will increase.
But Primanti more because of being closer to the hub.
Garden City will begin to see more activity with the clover leaf being in place.
Also once the Toll is removed on the highway, traffic to Garden City will increase.
Right now the tenancy in Garden City is sporadic, and some people from Manesar
and Neemrana are using those areas as hotels, since the areas serve as luxury
resorts for people looking to stay for a short period for work in that area.
-----------------------------------------------------------------------------------
Primanti, Ultima, Primus and Presidia are all truly luxury.
-----------------------------------------------------------------------------------
One thing to consider for luxury, the maintenance will be about 10-12k a month.
Also, if you're not staying there, then it will be an end use thing sporadically.
Mostly used for holidays or to stay there for short to medium periods of time.
Depending on whether it is tenanted out or not.
-----------------------------------------------------------------------------------