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Surajkund: Tourist Spot For Realty Hub

Surajkund have good real estate projects and low values. But the government apathy and lack of speed in the supply of infrastructure is a problem here, notes
Brix Research

Surajkund was majorly a forest area of rural settlements with the annual Surajkund fair as its biggest draw for business and other commercial activities. Its development began around 10 years ago, but because of government apathy was able to flourish. With Faridabad's property market is booming in the last few years, realized the developers of the enormous potential and a range of residential and commercial real estate projects were launched.
Surajkund village is one of the areas where real estate is undergoing a revision with a number of residential and commercial real estate projects under development. Spread over 30 hectares, it is most famous for its Surajkund Crafts Mela. Organized with support from the Suraj Kund Mela Authority, it is an annual event held in February 1-15. Launched in 1981 by Haryana Tourism, Mela (fair) is a platform for artisans and craftsmen from all over India to showcase their finest products in rural surroundings and is a major tourist attraction in Haryana. Known developers with projects in Surajkund include Omaxe, Eros Group, Parvsnath and Ansal. Charmwood Village of Eros Group was the first municipal project on Surajkund Road. Spread over 65 hectares, it consists of a multistorey apartment, Brentwood Charmwood Tower and Plaza, an integrated complex of shops, showrooms and offices under one roof. The apartments are valued at RS 60 lakh to RS 1.5 crore. The rent of apartments is around Rs 20,000 for a 2BHK unit. Almost 85% of apartments in Charmwood village is occupied, while the rest will be given for possession of 2011.
The Omaxe Group's private clients project, Forest, located near Suraj Kund Complex and is just 3 km from Delhi. It is spread over an area of 14.5 hectares and consists of 5BHK ultra-luxury apartments. Launched in 2006, the project is expected to be completed by 2011. Surrounded by 5,000 acres of forest green zone and the Aravali hills, the complex is equipped with state-of-the-art facilities with each flat valued at Rs 1.5 to Rs 3 crore.
Located on Surajkund Road, Omaxe Hills is another residential project developed by Omaxe Ltd. It has 2 and 3BHK apartments with 3BHK luxury apartments with servant quarter. The project was launched in 2007 and is expected to be completed in 2011. The apartments, with an area of 3000-5000 meters valued to Rs 45 lakh to RS 2.5 crore. The project comes with various modern recreational and entertainment facilities, and also hosts a local shopping complex with about 40 to 50 units at 400-800 meters, at a cost of Rs 30 to Rs 50 lakh. Other housing projects include Surajkund Greenfield colony, an integrated commune with multistorey apartments and a local shopping complex. A 2BHK apartment in Greenfield colony is available for Rs 20 to Rs 25 lakh while a 200 m² shop available on rent at Rs 40,000 to RS 60,000 per month. Wide range of properties as apartments, bungalows and villas are available in the residential category.
Commercial projects
A number commercial projects are also being developed for a comprehensive development of the area. Saffron Plaza is one such project. Mainly consisting of offices, it has been developed by a private developer and is ready to move into multinational companies and banks such as Citibank, HDFC Bank, SBI and ICICI have already begun operations here. Rent space in the Plaza is valued to Rs 7,000 per m² and the minimum unit size is 1,000 sq ft.
Developers like to Crown Group, Piyush Group, and SRS Group is developing a series of IT parks in the area. Most of these IT parks will probably be completed within two years.
Areas around Surajkund like Sector 37, Ashoka Enclave I and II are dotted with local shopping centers, of which 80% are occupied and others are ready for possession. Shops with a floor area of 1,000 m² is for rent Rs 60,000 to RS 70,000 per months.
Many schools and colleges are also located in Surajkund, like mvn Public School, Aravali International and Manav Rachana College. Local transportation around these areas is also better with a coach is at 1 km from Surajkund, while other modes such as auto-rickshaws and taxis are also easily accessible. Surajkund Road will soon be six-laned and the upcoming Metro link and Badarpur flyover point will further enhance its connectivity. Being a tourist spot, the area has also a series of 5-star hotels such as Claridges and Rajhans, which takes account of the tourists. "Surajkund is an important tourist destination in Haryana. Its excellent connectivity to South Delhi Gurgaon and Noida, and the affordable price range make it an investment hotspot, "said Pawan Kumar of Arrangement Real Estate.
Although connectivity is very good and transport facilities is improving, Surajkund lacks infrastructure facilities. While most projects have been fitted with 24-hour power backup, power and water supply is still a disadvantage. Besides is the slow pace of work with civilian agencies, further adding to the woes of residents and developers both. When these aspects are taken care of, Surajkund will be an excellent location for investors.
According to Pawan Kumar: "Surajkund is Faridabad primary site and has a bright future in the realty sector. Property rates have doubled since last year and demand has increased by 50%. With a little attention from the government, Surajkund in the next five years will be the preferred real estate destination leaves Gurgaon and Noida behind. "

Courtesy: – Times Property dtd: – 06-02-2009

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