Want To Buy Affordable Property Near Gurgaon? Head Towards Dharuhera

As urbanisation is moving beyond city boundaries, real estate investors and buyers have started taking these extended suburbs seriously. Dharuhera, for instance, is one such town that is a part of the national capital region (NCR) and lies at a distance of 40 minutes from Gurgaon. As new infrastructure developments bring this area to forefront, real estate developers have launched several affordable housing projects, targeted at the workforce working in this industrial town.

Taking a closer look at the real estate market

From local to prominent ones, Dharuhera real estate market is now a hub of some affordable housing projects. In sectors 1, 3, 5 and 24 of Dharuhera, brands such as Raheja, Bestech, Vipul, Parsvnath and Tivoli have come up with their projects. Most of these ongoing projects will be ready for possession by the end of this year while some of them are scheduled for delivery in 2019. The town has properties to offer across budget ranges and of varied configuration. For instance, in some projects, 1BHK properties are available at a starting price of Rs 32 lakh; others are offering a 2BHK property for the same price.  Due to high demand from renters, bigger units are more popular than 1BHKs. A 3BHK flat is available at a starting price of Rs 45 lakh, and can go up to Rs 55 lakh, depending upon the construction stage of the property.

There are number of plotted development as well as villa properties in the area, available at a starting cost of Rs 42 lakh. The per sqft cost of properties here varies from Rs 2,500-3,300 per sqft

What about the commercial development?

Dharuhera is an industrial town, and has manufacturing units of major automobile companies such as Honda. Apart from this, the place also boasts plant unit of Amul, Carlsberg and Indian Oil Corporation, etc. Majority of the people staying here are employed in these industries and prefer to stay on rent. The connectivity of this area from Delhi and Gurgaon is through the National Highway-8. State-run buses are the most popular way of commuting from Gurgaon to this town.  

What is on offer?

To attract real estate investors, developers here are offering a different kind of schemes to ensure that buyers do not lose their money because of a static market. This also makes real estate to be seen as a structured financial product. For instance, one of the developers is offering guaranteed buyback at pre-determined returns if the desired sales rate is not achieved. For bulk purchases, heavy discount is also enjoyed by the investors that may range up to 20 per cent on the entire cost.

Word of caution

Before you consider investment opportunities in the town to earn rental income, you might need to overlook few problems that can hamper future prospects of your property investment. The town lacks public amenities such as healthcare facilities, shopping complexes, good schools, leisure space. In fact, lack of proper drainage system which brings town in a flood-like situation with slight rainfall. Also, since the Real Estate Regulatory Authority is not yet formed formally in Haryana, investors should stay cautious of fly-by-night operators.