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Golf Course Extension Road, commonly referred to as Southern Peripheral Road, is a popular sub-city in Gurugram that spans 7-8 kilometers in both the residential and commercial domains.
Gurugram’s skyline is reaching new heights and it’s not just the skyscrapers that are soaring. It’s the business leasing costs too! Record prices that are more than Rs 100 per square foot have made the famous Golf Course Extension Road (GCER) a focal point of interest.
GCER has emerged as the center of a thriving commercial hub for business professionals interested in real estate, drawing elite firms quicker than agreements can be completed.
Golf Course Extension Road, commonly referred to as Southern Peripheral Road, is a popular sub-city in Gurugram that spans 7-8 kilometers in both the residential and commercial domains.
Gurugram’s Golf Course Road micro-market surprised observers with 42% YoY and 26% QoQ appreciation in the first half of the year, while the average price of residential real estate in the top seven cities of the nation increased by 6% to 9%.
Invest In Golf Course Extension Road For Better Rental yield
The region has had an amazing average capital price rise over the previous three years, ranging between 7% and 10% yearly, according to G Hari Babu, National President of NAREDCO. Moreover, its rental return has increased by a 17%, showing the region’s substantial investment potential and attraction to both domestic and foreign players.
“The Golf Course Extension Road develops as a vibrant hub for constant success in India’s evolving real estate landscape,” he added, noting that firms are collecting to establish their presence along this esteemed stretch.
The Effect Of Increased Circle Rates In Gurugram
The Haryana government suggested a significant increase in Gurugram circle tariffs in December 2023. The circle rates in the vicinity of the Dwarka Expressway to Golf Course Road are expected to increase by 43% to 87%. The ROI of Golf Course Extension would be further confirmed if this plan is approved.
According to Pyush Lohia, Director of Lohia Worldspace, these extraordinary numbers highlight the growing investor confidence and demand in this flourishing area, securing its place as one of India’s most sought-after real estate locations.
It keeps drawing in both domestic and foreign investors because to its advantageous location and strong infrastructure. He said, “This pattern is a sign of the area’s potential for sustainable growth and development in the near future.
The Impact Of Improved Connectivity
The region is well-positioned for long-term growth and development due to its well-established connections to the Delhi-Mumbai Industrial Corridor (DMIC), the Delhi-Mumbai Expressway, and the Indira Gandhi International Airport.
Setting a precedent in the neighborhood, the AIPL Business Club on Golf Course Extension Road made headlines when it signed a lease that exceeded Rs 100 per square foot. More than 6,12,000 square feet have been leased in total.
The project’s overall floor space is six lakh square feet, which includes a 17,000 square foot food court and a six-story parking structure. Notable companies including Ford Motor Company, British Airways, Cargill Foods, and Deloitte have already leased office space here, helping to contribute to the building’s remarkable 96% occupancy rate.
Reasons That Help Golf Course Extension Road Become A Realty Hotspot
The success of closing a contract for more than Rs 100 per square foot, according to Anil Pankaj Singh, VP of Corporate Leasing at AIPL, is not only a noteworthy accomplishment for the AIPL Business Club but also a symptom of a larger trend in the sector.
According to him, there is an unparalleled demand and value for Grade A office premises. Domestic companies are increasingly flocking toward Grade A office spaces—especially those with ecological features—as they join the ranks of international enterprises. in places such as Gurugram.
Tenants are clearly more ready to pay a premium for office complexes constructed in compliance with green construction regulations, indicating a strong preference for quality. Furthermore, he stated that “rental rates have increased significantly in most of Gurugram’s business districts, including Golf Course Extension Road,” and that “the strong demand is anticipated to continue through 2024 given the limited availability of Grade A office spaces.”
Source-ET
