This week Outlook Money’s Residential Realty in association with Magicbricks explores those localities in Mumbai, Hyderabad, Gurgaon and Noida that are in great demand among home buyers. Malad (West) in Mumbai, Kukatpally in Hyderabad, Golf Course Extension Road in Gurgaon and Sec 74-78 in Noida have witnessed good residential development due to their proximity to business parks, connectivity and well developed commercial centres.
Malad is a major suburban centre located towards northern part of Mumbai. The locality is serviced by the Western Line of the Mumbai Suburban Railway network. As with other localities on Western Line, Malad is also divided into Malad (East) and Malad (West) with Malad (West) being the more developed and more expensive locality.
Malad (West) evolved as development moved north from suburban localities like Andheri (West) and Goregaon. However, a major catalyst for its development was setting-up of Mindspace IT/ITES Park by K Raheja Corporation. This park, spread across 110 acres, provided large format office space for IT/ITES companies, including back offices of major international investment banks. This had a multiplier impact on residential development with employees seeking accommodation closer to their workspace. Residential development was followed by large format retail development like Inorbit Mall and HyperCity.
Today, Malad (West) is an evolved and well established locality which provides all the necessary support amenities to residents. In terms of connectivity, Western Line connects it with other suburban localities towards south and Central Business District of Nariman Point & Churchgate. While New Link Road forms the main internal road network connecting it with localities towards north and south, it also has lateral connectivity with Western Express Highway.
Kukatpally is one of the largest localities of Hyderabad. It consists of large scale residential development, retail high street, commercial markets and trading clusters. The main driver behind the locality emerging as a large residential hub is the development of Kukatpally Housing Board Colony (KHBC). This led to development of large number of Low Income Group (LIG) and Medium Income Group (MIG) units in the area. Further, as the Mumbai Highway passes through the locality, the area along the highway emerged as commercial and retail market. Another fortuitous development which helped to improve the profile of the area was development of IT/ITES cluster towards western part of Hyderabad. The development centered in and around Hi-Tech City, and further east towards Gachibowli, falls within 5 km radius of KHBC. Demand from workforce employed in these IT/ITES clusters for affordable housing, both for rent and sale, led to further development of the area, especially the southern part of the locality close to these IT/ITES clusters.
Today, the locality has a mix of low to mid-level residential development in both low rise and high-rise formats. There are numerous retail outlets, malls and other support amenities like schools and hospitals.
Golf Course Extension Road region is a prime developing residential hotspot of Gurgaon. The area is located in the south of Gurgaon and is bound by Golf Course Road to its east, and Sohna Road to its west. Both Golf Course Road and Sohna Road are developed regions of Gurgaon and as these areas got saturated in terms of real estate development. Golf Course Extension Road region consists of Sectors 49, 50, and 57, which are located along the north side of the road, and Sectors 62, 65, and 66, which are located along the South side of the road. While the north side of the road is mostly developed, the south side sectors are still in the process of development. Sectors 60, 63, and 63A, are other developing sectors located in the influence area of Golf Course Extension Road, and are located to the south of it. The area has a number of ready and under-construction projects from prominent developers. The area also has access to Rapid Metro of Gurgaon through the Sector 55-56 metro station located on Golf Course Road, which is just 250 mtrs from the area.
Sector 74 – 78 is a well-developed area in Noida region and boasts several completed as well as under construction residential buildings. The area is predominantly covered by multistorey apartment buildings with projects of some premier developers such as Supertech, Ajnara, Prateek builder, etc. highlighting the area. The area has good connectivity with other parts of the city through roads as well as the metro. Delhi Metro’s Aqua Line runs adjacent to the west end of the sector 75, 76 and 78 while the roads are also smooth and wide. The region is best suited for the people employed in nearby Noida and Delhi region since it provides smooth connectivity and good amenities for residents. The retail complexes in the region are within the range of 5 – 10 km, although multiple mini markets are spread across the area to cater to the basic requirements of the residents. Further, social infrastructure such as schools and hospitals are available within the range of 5 km.