Thanks to seamless connectivity, presence of high-quality residential projects and proximity to major destinations, residential properties in Gurgaon Sector 58, have started to garner interest from homebuyers and investors alike.
The location is situated on the fast-emerging destination of Golf Extension Road in Gurgaon. With its sprawling commercial and residential hotspots and expansive infrastructure, the location holds great potential.
The capital values of residential properties in Sector 58 Gurgaon range from Rs 8,500 to 10,000 per sq. ft.
Let’s discuss the pros and cons a property buyer must know before making any decision.
The national capital, Delhi is easily accessible by road through the Delhi-Gurgaon Expressway that meets with Sohna-Gurgaon Road while joining Sector 58. Sohna Road connects directly to Palam Vihar, Manesar and Sector 14.
Due to the presence of young working millennials, there is the rapid growth of high-end luxury and ultra-luxury homes. If one is working in Sohna, there is a range of villas, penthouses or duplexes available in Sector 58.
Educational institutions including Bharti International School, Gyan Deep Public School, Shalom Presidency School, Gurugram Public School and Megha Model Public School are located in Sector 58. Even multispecialty hospitals such as Fortis Healthworld, Anand Multi-speciality Hospital and Alchemist Hospital are nearby. Developed and well-maintained localities like Sector 51, 55, 56 and 60 surround Sector 58 which is easily accessible via Rajesh Pilot Road and Golf Course Extension Road.
Sprawling commercial zones
With a mix of cafes, restaurants, entertainment hubs like Omaxe City Centre, Raheja Mall, Megapolis Mall and Omaxe Gurgaon Mall, supermarkets and shopping complexes, Sector 58 has become a booming commercial zone.
While the average rental yield is Rs 28,000 to Rs 32,000 for 2BHK, a 3BHK apartment costs Rs 31,000 to Rs 34,000 a month. According to experts, residential properties in Sector 58 Gurgaon may witness 20 percent growth in the next 2 years.
Yet Sector 58 has its set of challenges. Some of them are:
Physical and social infrastructure
Since the millennium city has undergone unplanned expansion, essential needs and services like power, roads, water and sewage are in a dire need of maintenance. Water-logging during rainy season becomes an issue. However, it is expected that with the recent formation of the Gurugram Metropolitan Development Authority, the issues will be adequately addressed.
Lack of open spaces
With the development of Sector 58 and other sectors along the Northern and Southern Peripheral Roads, the green belt would soon reduce; leading to lack of open spaces. It may hit luxury homes’ growth as green views and surroundings are considered essential for luxury homes.
Potential for the future
All the issues listed above don’t take away from the fact that residential properties in Sector 58 Gurgaon are a viable option if certain issues are fixed by those in authority. For instance, traffic congestion can be easily avoided once the South Peripheral Road is completed. It will further connect Mehrauli in Delhi with Manesar in Gurgaon. The Sohna Road will get rid of traffic issues during monsoon once the Badshapur drain is widened. The plan is already under implementation.
Rapid progress and development on the Golf Extension Road have led to greater prospects for realtors in commercial complexes including office projects like Imperia Orange, Imperia Byron and Unitech Business Zone. Sector 58 has the potential to become a walk-to-work space in the near future. Not to forget, Delhi-Mumbai Industrial Corridor is expected to take off and enhance the scope of the area.