Jams put off prospective buyers
With population pegged at more than 20 lakh, the city needs to expand its fold to be able to provide the required residential and commercial space. The necessary growth, however, is being slowed down by the Delhi-Gurgaon expressway toll plazas. Deevakar Anand reports.gurgaon Updated: Aug 06, 2013 02:19 IST
With population pegged at more than 20 lakh, the city needs to expand its fold to be able to provide the required residential and commercial space. The necessary growth, however, is being slowed down by the Delhi-Gurgaon expressway toll plazas.
While Gurgaon’s capacity to accommodate more property is fast saturating, it is the upcoming hubs such as Manesar, Southern Peripheral Road and Northern Peripheral Road (NPR) which are a solution to the housing needs of the people.
But, their prospects are marred by the traffic bottlenecks near the expressway toll plazas.
“During the site visits, our clients are put off by the fact that they have to cross two toll plazas before seeing our property, which is otherwise at a prime location — just a few metres off National Highway-8. Doing away with toll plazas, especially the one at Kherki Daula, will let Gurgaon expand smoothly,” said the marketing vice-president of a prominent developer which is coming up with a township near Manesar.
Anckur Srivasttava, chairman of GenReal Property Advisors, points out that it is the accessibility that brings investment sense in case of property, and the toll plazas, when not managed well, mar that prospect.
According to industry experts, there are about five million square feet of ready-to-use residential and commercial space near Manesar which have no takers because of the unpredictability of the commuting time. “There is no point of having toll plazas inside the city limits. They are commuting nightmares besides affecting the real estate business,” said Aakash Ohri, director, business development, DLF Home Developers Limited.
First Published: Aug 06, 2013 02:18 IST