
Economic Development in Gurgaon with respect to SPR-NPR
In the recent decades there has been an increase in population and job opportunities in the cities of Manesar, Pataudi, Sohna, Rewari, Dharuhera, Sidhrawali, Faridabad, Ghaziabad, Sonipat and Jhajjar among others resulting in economic activities. Among them, Gurgaon has emerged to be a significant economic center. It is clear that the Southern Peripheral Road and Northern Peripheral Road are the arteries of Gurgaon, because it is especially true for sectors 58 to 115 developed by the Haryana government in line with the revised Master Plan Gurgaon Manesar Urban Complex 2031.
A Solutions to Traffic Problems at Vatika Chowk
Over the last decade, there have been a number of traffic congestion bottlenecks most, notably at Vatika Chowk intersection, even with a flyover heightening the difficulties of managing traffic. However, with the construction of the new underpass, it is anticipated that this problem will be resolved and at the same time contribute to the increase in business, inhabitants and cities within the areas. The Vatika Chowk underpass is expected to make it easy for traffic to flow unimpeded on the SPR and NPR roads, which measures the growth span of about thirty kilometers length which is also an important landmark construction project in Gurgaon.
Integration of Urban Expansion with Connectivity
The Haryana government planned the SPR in a semi circular manner which helped in the ease of travel between Delhi and Gurgaon, the urban planning was evidently better and the integration of roads, railways and metro systems were more efficiently coordinated, however in the last decade or so the Vatika Chowk crossing point where the SPR meets the Sohna Alwar road, has turned into a major conundrum. So the GMDA decided to build an underpass from Ghata Chowk to NH 48 which is near Kherki Daula as part of their plans to solve the issues caused because of SPR and VTB which was put together by them around 2018-19 as part of the redevelopment project.
Changing Dynamics of Real Estate Market
Over the years the traffic which goes through this junction in the past decade, has seen an increase, this can be correlated with the outburst of the real estate industry in Gurgaon and Sohna. The last decade saw people flocking to Gurugram, especially the new areas, because one reason which can be pinpointed is due to the increase in the prices of lands, flats and apartments. With people previously investing in properties and as the demand suddenly increased Sohna Road and spr began seeing growth in malls and retail shops making it into a commercial hub.
Opportunities for Investors and Homebuyers
The urbanization of India now calls for increased supply of commercial and residential real estate, a requirement that real estate developers are now working to meet. Haryana has also put in place several housing initiatives to encourage the real estate industry and has also received support from the NCR Planning Board and NHAI in the provision of road and rail infrastructure. And, Haryana Chief Minister Manohar Lal’s announcement for a proposed metro line from Vatika Chowk to Pataudi added more fuel to the appreciation in real estate.
This is an ideal time for buyers or investors of real investment properties along the SPR/NPR, which is most probably the Dream Location for many now. However, due diligence of promoters and the projects credentials is necessary. Signature Global, among the many real estate firms in the country, has been able to mark its presence in Gurgaon and hence can be relied on by real estate purchasers.
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