GCR is now positioned as a high-end luxury destination for office and residential space.
With a mix of high-end retail, mall, and other social infrastructure coming up here at a rapid clip, GCR is being talked about as an integrated and self-sustainable micromarket of the future
Gurgaon, more popularly known as Millennium City, is seeing constant upgrade in the civic and business infrastructure–a classic example being Golf Course Road (GCR).
With a 16-lane, signal-free corridor connecting it to the MG Road and NH-8 near Shankar Chowk on one end and with residential and office corridor of the Golf Course Extension Road at the other end, GCR has become a popular choice amongst key corporates and Fortune 500 companies today.
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A 13+ million software technology park (SFT) here has emerged as the central business district (CBD) for IT-ITeS firms, similar to DLF Cyber City.
“GCR offers some of the country’s most prime commercial office buildings and has gained prominence as the most sought-after CBD for commercial office asset class. The average commercial office rental values on the stretch are between Rs 90 and Rs 170 sq ftmonth,“ Vineet Anand, director-office services, at Colliers International India, said.
Vineet Anand says that GCR has positioned itself as the location of choice when it comes to the finest, high-end luxury and ultraluxury residential properties, turning into the favourite destination for HNIs, expats, and top multinational and CxO executives. The average capital values for residential properties in and around GCR today are between Rs 8,000 and Rs 15,000 per sq ft.
Golf Course Extension Road, too, offers great opportunities with great infrastructure and seamless connectivity via NH-8, Sohna Road, Golf Course Road, and Faridabad-Gurgaon Road.
“A Metro link–connecting Huda City Centre to Manesar–has been proposed on this road. The area offers a perfect blend of residential, office, retail, and institutional development, and is expected to create a perfect ecosystem and boost the value of the projects in this belt,“ Pankaj Bansal, director of M3M Group, said.
“The area from GCR and GCR Extension is slated to become the next best destination after Gurgaon. “This locality is well connected to South Delhi, Sohna Road, NH-8, and Gurgaon-Faridabad Expressway and is easily accessible from the IGI airport by road. The area also offers many commercial real estate destinations which add value of it. The DMIC is due to commence near this locality, which will definitely spike values further,“ Ravish Kapoor, director of Elan Group, said.
“The launch of Phase II of Rapid Metro has improved connectivity to Gurgaon and has brought a major relief to commuters. “The Southern Peripheral Road (SPR) is also planned along Golf Course Extension Road. These developments will definitely provide a major boost to real estate growth in the area,“ Rahul Singla, director of Mapsko, said.