Residential Realty: Focus on prominent localities surrounded by job hubs

Residential Realty: Focus on prominent localities surrounded by job hubs
16 December 2019

Nestled in the centre of prominent job hubs has been the key reason behind the rise of these localities into prominent residential markets. This week Outlook Money’s Residential Realty in association with Magicbricks shifts the focus to prominent localities in Gurgaon (DLF Phase II), Bengaluru (Yelahanka), Mumbai (Goregaon) and Hyderabad (Madhapur). These localities have always witnessed a healthy demand despite the fact that they demand a premium.

DLF Phase II, Gurgaon

DLF Phase II is a prominent and premium residential locality in Gurgaon, primarily developed by DLF. The locality is spread over Sector 25 and 25 A (Cyber City). It has a mix of builder floors and multi-storey apartments. It promotes walk-to-work concept with India’s first rapid rail development and hubs Cyber City, a major employment centre comprising several multinational and domestic companies such as Deloitte, KPMG, PWC and Accenture. In addition, various office complexes on NH-48, Udyog Vihar and Golf Course Road are also just 10-15 minutes from the locality.

Strategically located alongside NH-48, DLF Phase II is well connected to MG Road (NH-148A). The locality has immediate access to two metro lines including Delhi Metro’s Yellow Line via Sikandarpur Metro Station) and Gurgaon Rapid Metro via several stations namely MG Road Phase-2, Belvedere Tower, IndusInd Bank Cyber City and Phase-3 metro station.

Key social amenities include Delhi Public School (DPS) DLF City, American Montessori Public School, Sherwood Convent School and Privat Hospital, among others. The locality has excellent retail infrastructure with the famous Cyber Hub, Ambience Mall, Central, MGF Metropolitan Mall, and Sahara Mall located adjacent to the locality.

Yelahanka, Bengaluru

Situated on the northern outskirts of Bengaluru near the airport, Yelahanka has emerged as a key real estate destination owing to excellent physical & social infrastructure. It is well-known for having presence of several defence establishments such as the Air Force Station, BSF Campus and CRPF Base. It hosts a mix of multi-storey apartment and villa projects in various stages of development. Yelahanka has good connectivity with the airport and the IT corridor along Outer Ring Road (ORR). It is easily accessible from key employment hub of Manyata Tech Park.

It enjoys sound connectivity through NH-44 (Bellary Road), Doddaballapur Road, Yelahanka Road and Yelahanka Junction. The Karnataka Government has also approved a 29.62 km long extension of Line 4 (Gottigere-Nagawara) to Kempegowda International Airport, under Phase 2B of Namma Metro. The approved Airport Link extension would pass through Yelahanka and is expected to be completed by 2023.

Key social and retail infra in close vicinity include Canadian International School, Ryan International School, National Public School, BMS Institute of Technology and Management, Navachethana Hospital, Omega Multispeciality Hospital, Yelahanka New Town Shopping Complex and RMZ Galleria Mall.

Goregaon, Mumbai

Goregaon is a well-established locality placed in the northern suburbs of Mumbai. Some nearby areas surrounding Goregaon are Malad, Jogeshwari, Andheri and Powai. The locality is a developed residential hub dominated by multi-storey apartments. Key residential projects in the area include Radius Imperial Heights, Ekta Tripolis, Kalpataru Radiance and Mahindra Eminente, among others.

The locality is well-connected via SV Road, Link Road, Western Express Highway and Goregaon Railway Station. It is placed closer to the key business centres of NESCO IT Park, Nirlon Knowledge Park, Mindspace IT Park, Lotus Corporate Park, Cama Industrial Estate and Film City. Also, it is well-connected to Bandra Kurla Complex (BKC). The under-construction Line 2 (Dahisar - Mandale), would have a metro station at Goregaon and is expected to be completed by 2020.

Popular malls and entertainment zones in and around Goregaon are Inorbit Mall, City Centre Mall, Central Mall, The Hub Mall, Oberoi Mall and PVR Cinemas. Key educational institutions and healthcare facilities nearby include VIBGYOR High School, Vivek Vidyalaya & Junior College, City International School, SRV Hospital, Suvidha Hospital & Polyclinic and Siddharth Municipal General Hospital.

Madhapur, Hyderabad

Madhapur is a sprawling suburb in the Ranga Reddy District, placed in the north-west outskirts of Hyderabad. The locality is surrounded by major IT hubs of HITEC City and Gachibowli. Other prominent localities such as Jubilee Hills, Film Nagar, Alkapoor Township and Manikonda are also in the vicinity. It hosts a variety of residential properties including apartments, villas and luxury duplexes.

The IT hubs of HITEC City and Gachibowli are the key growth drivers for residential demand in Madhapur. These employment centres boast offices of several major MNCs such as Infosys, TCS, Wipro, Microsoft India, Accenture, Capgemini, Cognizant Technology, Genpact, Amazon and HCL Technologies, among others. Madhapur is extensively connected via the Outer Ring Road (ORR) and HITEC City Road. There is ample availability of auto-rickshaws, taxis and local buses run by APSRTC. Also, the locality has its own metro station named Madhapur on the Blue Metro Line.

Madhapur is home to premier educational institutions such as the National Institute of Fashion Technology, Manthan International School and Meridian School. Hedge Hospital, Vikram Hospital and Oakridge Hospital are the prime healthcare centres here. Also, several retail avenues close to this locality are Inorbit Mall, NEXT Galleria and TOD.