Gurgaon is all set to become a separate SEZ (Special Economic Zones) country within India with the approval of 52 SEZs, the highest in any district in the country. As per estimates, nearly 34 per cent of Gurgaon's agricultural land will be covered by these SEZs, and the commercial properties in Gurgaon will be dominated by SEZ properties now and then.
Nevertheless, Gurgaon Real Estate has tremendous potential in the SEZ segment and a slew of business conglomerates have unleashed their ambitious plans for this star city.
Owing to IT roar, the property prices in Gurgaon have already gone up by several folds. According to Subhash Goel, a real estate agent from Gurgaon, 'the demand for commercial and residential properties is upbeat and the big real estate developers are launching several residential projects in the city because they are of a view that the property values in Gurgaon are going to increase sooner or later'.
Due to the raging growth of IT and ITeS companies and with many big names initiating their projects in Gurgaon, the real estate picture of the region is bound to be of attracting surveillance.
Notably, Reliance Industries Ltd is setting up India's largest Special Economic Zone in Gurgaon (SEZ), which is projected to spawn up the turnover of Rs 50,000 crore in the very first year of operation. The company has forged an alliance with Haryana State Industrial Development Corporation.
The multi-product SEZ would function like a fully integrated city with a separate airport, railway links (plus Delhi Metro links), an International Container Depot and adequate supply of power, water and communication facilities.
Real estate developer DLF has been given a nod to set a multi-product SEZ in Gurgaon on 20,000 acres of land. The company also proposes to demarcate a 'free trade zone' within the processing area of the SEZ, which would lay emphasis on trading of goods and commodities manufactured within the SEZ, and the service sector, including BPOs, IT and ITES companies.
The private developer will reserve about 2,000 acres for a commercial zone that will include shops and other establishments such as hotels, office complexes and banks.
The SEZs in Gurgaon will have residential properties as well. Almost 10,000 acres will be developed exclusively as residential zone, providing all categories of houses for people working in the SEZ. DLF will also develop about 2,000 to 3,000 acres of land as an institutional area, providing educational, healthcare and research infrastructure.
