Realty Growth in Manesar

Manesar – Real estate in NCR began with market expansion moving to Delhi’s suburbs. However, the situation is a passé now. The property boom has reached the second phase of development. After the Capital’s suburb, it is a turn of Gurgaon’s suburb. Couple of years back no one could have imagined such excellent real estate prospects for Manesar.The real estate market in Manesar has been going at a crazy pace ever since MNCs have taken the decision to set up their establishments in this known city of Haryana. Manesar was earlier a small village which has now been transformed into an industrial and commercial hub over the past few years. The real credit goes to the IMT Manesar Industrial Area, which has boosted up the commercialization of the area.

Property rates in Manesar have witnessed a great hike from Rs 20-25 lakh per acre to Rs 1.10-1.40 crore per acre. Rates of commercial properties in Manesar have increased by 35-60% in the last six months. Interestingly, residential properties in Manesar have also got up on the boom bus, and have witnessed an excellent jump of 35%. Currently, three bedroom houses in Manesar are no less than for Rs 1800 per sq ft to Rs 2200 per sq ft.

The development of Kundli-Manesar-Palwal (KMP) Expressway is expected to cover a distance of 135 km – is believed to be the most expensive and the longest Indian expressway to be constructed, has just pushed the property prices in Manesar to sky high.

Manesar would emerge as a Mecca of industry specific infrastructure, service ancillaries, commercial services, and an array of other essential services.

Scarcity of land for development purposes is one of the major reasons encouraging property developers to move further afield to Manesar and scout new construction prospects.

In addition to being an Industrial Town, a multitude of builders and construction companies from Gurgaon and Delhi look at Manesar as their next destination for construction purposes.

Upcoming Real Estate Projects in Manesar

A corporate Tower in Manesar: The construction major Eros Group is planning to invest Rs 400 crore on setting up a new business complex at IMT Manesar. The project is likely to be over by 2008 and will feature all the required facilities to cater to demanding business requirements of shops, offices, and visitors. It will be constructed on lines of modern architecture, with all the amenities and infrastructure critical to a corporate tower.

HSIIDC has earmarked a complete sector (Sector 2) for commercial developments. It is developing 12 commercial towns in Manesar.

DLF City 2 Manesar: The construction giant, DLF has planned a huge township in Manesar.

Karma Lakelands: It is a project by Unitech which will bring Ultra Luxury Villas with a 18 Hole Golf Course in Manesar.

Vatika Township: A project by Vatika coming up with plots and Villas with modern amenities.

Golden Heights: It is an exclusive township to be developed by landmark Developers. This is a pre-launch project.