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Real Estate, Real Estate India, Residential flats

Manesar, ranks fifth amongst the costliest industrial areas of the world. After having carved its niche on the world map, this place has come to lime light within last few months. Now, the efforts of state government are that it should be constructed with a world-class standard.

With the arrival of property market to the adjoining areas of Delhi, it brought a good fortune to all those areas which were ever untouched. These may particularly include Ghaziabad in U.P. and several cities of Haryana. During last few years, the construction activities have increased to such an extent that these are visible today on international map.

Around one and half year back, the News Week after having included Ghaziabad in top ten dynamic cities of the world, had declared it the hottest city of India and now Manesar’s name has shone in the study off American Real Estate Company – Cushman and Wakefield. According to it, with the point of view of world-wide increase in industrial properties rental, IMT Industrial Area, Manesar is at fifth place where rents have increased upto 50% within a year.

Sparkle of Manesar has increased on property map since the last around one year when the work on Kundli-Manesar-Palwal (KMP) express way was started. It is a very important project. The responsibility to complete it has been assigned to Haryana State Industrial & Infrastructure Corporation. The distance between Kundli and International Airport shall be hardly 30 minutes drive via this 135 k.m. long KMP express way. There is a proposal to construct a business corridor alongwith express way. It is presumed that this will be the biggest and costliest express way in India. In addition, Haryana Government, in its master plan, has presented Manesar area combining with Gurgaon, in other words after combining Gurgaon and Manesr, it is sure to become a big developed area. It is evident that all these expectations have affected the property prices in Manesar. During the past one year the prices of property have jumped by 35% to 60% here.

If we talk only about industrial area, after arriving all multinational companies here, the scenario has been changed completely. As a result of which a one time small village Manesar has today become a big industrial and commercial hub. Its credit can be given to IMT Industrial Area. It may perhaps sound queer, but it is a hard fact that Haryana Government is earning more than Rs.1500 crore annually from this area alone.

Land rates in Manesar have increased from Rs.20-25 lac to Rs.1.5 crore per acre. During this period the rates of commercial properties have increased 35% to 60% whereas the prices of residential properties have increased upto 35% Today average rates of residential properties in Manesr are Rs.1800/- to Rs.2200/- per sq. ft.

Connectivity is plus point

Inhabited on Delhi – Jaipur highway, easy connectivity from Manesar to Delhi is its biggest plus point. You can cove a distance of 45 k.m. between Manesar and Connaught Place with in one and half hour only whereas it takes only one hour to cover a distance of 32 km from International Airport to Manesr. After completion of the Express way, it will take only half of the time to cover this distance from Airport. On the other side, state government is trying to bring metro upto Sushant Lok.

Stars will shine more

Efforts are being accelerated to make this area an economical hub. Here the work on several big project is going on consistently. Government’s idea is to develop Manesar on the basis of an Industrial Model Township. Therefore, it is being constructed keeping in view the world-class standards. Several projects of reputed Indian and foreign companies are today going on here. The Director of Haryana State Industrial & Infrastructure Corporation informed on the condition of not printing the name that after acquiring 3000 acre land , the work is going on it. Keeping in view the world-class standard in this area, the whole development shall be done by the corporation itself. The corporation has taken over Sector-2 for commercial development and commercial township is being constructed in 12 sectors. He told, “Our aim is to attract more and more industries here. For this we have prepared our own standards”. Private developers have been allowed to work hare conditionally in sectors under which sector’s 50% development work will be done by private developer. Under the master plan, 500 cusecs water plant and 400 KV capacity power plants are being constructed here for a population of 37 lacs. In addition to these, several big builders have started their own projects in Manesar.

Residential Business

As per an estimate, as compared to Gurgaon, the per acre average habitation in Manesar is higher by 20%. For example, if there are 80 person in an acre in Gurgaon, than there are 100 persons in an acre in Manesar. In such an eventuality, there are full possibilities of expansion of residential projects here. Alongwith development of industrial projects, residential projects will also be required. As such, Haryana State Industrial and Infrastructure Corporation has acquired 250 acre land near national highway for construction of residential projects. Staff quarters are being constructed on it. 14930acre land for residential and 1404 acre land for commercial complexes has been reserved in Manesar. There is no provision of mixed land use here and every thing has been projected well in advance.

Date: 01 August 2008, Friday
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