Palam Vihar

Location: West Delhi
Palam Vihar is a great area and it has all the benefits one can think of: just 10 mins from the airport (where airport city has been announced containing golf course, direct metro link to connaught place, malls like bangkok and london), near to software parks (all major software companies just 3-4 kms away such as IBM/Oracle/Alcatel/Sapient), close to business centers of Udyog Vihar (maruti/Hero Honda) and to biggest SEZ announced in Garhi Hansaru, main Gurgaon malls within 5 kms, very posh area of the elites with luxurious apartments such as spanish terraces, celebrity homes etc, 75 meter road announced direct to Dwarka (Delhi), metro accessible both via Dwarka and IFFCO chowk (apart from the planned one direct from airport), closest to posh areas of Delhi too (Vasant Kunj/ IIT), fun n food village just 2 kms away (best amusement park in Delhi), Gurgaon Railway station closeby (that will soon develop as part of IRBT- rapid train/bus feeder transport system for metro), nearest to Sultanpur wildlife santuary (tourist place), easy access to NH-8 and the expressway (will just take 20 mins to connaught place when it gets ready), nicely cuddled in an open and green location of Gurgaon. Ansal plaza, Devi Lala Park (just 1 km away), good schools/colleges nearby and the benefit list goes on.

With vast expanse of vacant land, couple of dainty edifices by neat tarmac roads, belts of ongoing construction projects by developers, no traffic snarls and a pleasant countryside feel – Palam Vihar is a picture of contrasts. Of course, this sight will not last for long. And sooner than one can expect, this 800-acre stretch will shed its rustic garb, the land will become dotted with multi-storeyed residential and commercial structures peopled with well-heeled gentry including defence ex-service men.

Palam Vihar, it seems, has got a fresh lease of life and is on its way to reincarnation. The pace of development, which started way back in 1983-84, had refused to pick up and there were periods of lull. Citing the reason for this lull, Major General Jayant Varma, Executive Director North, Knight Frank (India) Pvt. Limited says, “Even though Palam Vihar saw steady increase in real estate activity between 2001 and 2003, it did not see such a huge appreciation of prices due to the boom on MG Road and the vicinity. The other factor that stalled the development was the lack of accessibility. It lies 4 km from NH8 and farther off from MG Road which are the two main linkages from Delhi to Gurgaon. However, at present, the area is touted to be a hot property and prices have been spiraling upwards since the time direct link of Palam Vihar to Dwarka (Sector Road link to Dwarka) was announced in early 2004.Says Varma, “With MG Road and vicinity moving towards both – saturation of supply and sky-rocketing prices– more and more people are moving towards Palam Vihar which is an attractive residential option owing to its green, well laid out environs, a high quality population mix and comparatively affordable pricing.”

Real estate sector of India is growing at a tremendous speed. Number of development companies and builders are coming up and investing in residential property. Investment in residential and commercial projects is bringing huge profits to these builders. Big Builders in Palam Vihar undertake construction of new homes, flats, and bungalows, corporate or business parks, shopping malls, townships, penthouses apartments etc at a stretch of couple of acres. Property developers or residential Builders combine fragmented residential space or plot to form beautifully designed housing societies and commercial complexes.

Palam Vihar has largely been Ansals development. The Company’s first projects were Duplex Houses and Celebrity Homes. The ongoing residential projects include Jade Villa, Jade Home, Jade Executive, Spanish Terraces, Cozy Homes and Garden Homes. The commercial projects include Spanish Court (shopping- cum- office complex) and Ansal Plaza (shopping mall with multiplex). In additional the company is planning to have more residential schemes in this township and to pushing commercial development in the area with good infrastructure and other facilities like education, medical, banking etc.” Apart from Ansals, other builders like Cosmos and Bestech Group too have their projects mapped out. Palam Vihar has a great potential to grow.