Changing from an obscure village to the hub of industrial and commercial activity , Aditya Bansal explains why Manesar is already a preferred destination for future investments

The real estate industry suffered a huge congestion in business opportunities in 2008–09 due to the economic slump, but 2010 began on a positive note. The rapid growth of Indian economy has led to an increase in the disposable income of individuals and strengthened their purchasing power. Apart from this, there are several other factors which contribute to an increased demand in the realestate sector. Due to this return, a new trend of expanding the boundaries of metros is emerging as a new business mantra among developers.

The Hot-spot of NCR
Manesar, slated as the New Gurgaon, in the NCR region, is emerging as one of the fastest growing residential destinations and can be recognised as a mega-city in the making. Being located on the Delhi-Jaipur highway, Manesar is extremely well connected to both Delhi and Gurgaon by NH-8; it is only 32 kms away from the international airport, 8 km from Gurgaon, and 45 kms from Connaught Place. The connectivity, setting up of an institute of national importance like National Security Guard and National Brain Research Centre, and improved civic amenities have attracted investors from Japan, France and UK who have set up more than 450 industrial units here. Moreover, its proximity to Gurgaon, the new commercial hub, has given greater impetus since there are a lot of people taking up jobs in Gurgaon.

In addition to the benefit of being located at NH-8, the proposed commissioning of Kundali- Manesar-Palwal expressway by 2010 and Delhi Metro Rail Corporation or Metro link by 2014 is expected to further elevate the connectivity of Manesar countrywide. Moreover, with the advantage of unparalleled infrastructure in the  form of broad roads, a state of the art power house and water supply system, this new destination is sure to become the next hot residential destination.

Adding momentum to the growth, Maruti Udyog recently announced the establishment of its fourth manufacturing facility at Manesar. The move will envisage an investment of Rs 9,000 crore over three years. The project will have a car assembly plant to manufacture premium hatchback shift and a new export model, a diesel engine plant and a 2-wheeler plant of Suzuki Motorcycle India. Honda SEL has also acquired 600 acres for setting up its plant, turning Manesar into an auto-hub.

As a result of rapid industrialisation a big demand for housing in the area has cropped up. The need to provide world class residential solutions is being felt by companies established there like Honda Motorcycles & Scooters India, Hero Motors Limited, Samsung Telecommunications, Denso Haryana, Maruti Suzuki, Baxter India, Mitsubishi Electricals and many more . In an attempt to contribute towards environment conservation, various kinds of trees are being planted to make Manesar as green as possible. Wipro is coming up with a green campus which is expected to be an attractive destination for IT and BPO companies.

Considering the growth potential, the Haryana State Industrial & Infrastrcture Development Corporation (HSIIDC) conceived the idea of developing a technology park for information and technology in sector-8 of Manesar under the campus development scheme. Its permission was granted to about a dozen companies which includes HCL Technoparks Limited, Sofed Retailers (P) Ltd, Agilent Technologies and Galileo India (P)Ltd, among others.



Objectives of the Master Plan
As per the new master plan of Gurgaon, a major portion of land has been earmarked in Manesar for residential purpose to meet the increasing housing demands of the future. Improved connectivity and superior infrastructure has added to the attractiveness of Manesar as a residential destination. Sector-1 on the left side of NH-8 has been allocated for industrial housing to cater to the needs of both executive and non-executive housing. Today, people are buying properties in Manesar for both investment and self-use objectives.

Due to escalating industrialisation, the property rates in Gurgaon began sky-rocketing a few years back. Eventually, people started looking for alternative housing options at lower rates. So, the commercial sector in Manesar began to develop at a phenomenal speed with many companies deciding to settle down there. Both these reasons directly lead to the development of Manesar as the next hot spot for both residential and commercial activities.

Apart from this, entrepreneur-friendly policies of HSIIDC like rebate on land price, speedier clearance of building plans and completion certificates, added wings to the growth of Manesar. According to the Gurgaon- Manesar Master Plan, industrialisation of this place will reach its peak by the end of 2010. In accordance with this, the roaring demand for state-of-the-art residential units in Manesar has been increased from one to four to allow the staff to stay around the industrial units and be able to simply walk to office. Private developers are also keen to jump on the bandwagon by coming up with a lot of residential projects around this place. Fresh areas including the Gurgaon- Manesar stretch along NH-8 are expected to witness the emergence of self-sustaining townships of 150–300 acres.

What’s in Store for the Future?
Current existence of many national as well as international corporate offices and a dense residential belt in Gurgaon need no justification to exemplify the vast potential of suburbs to accommodate the residential and commercial demand. After the recommendation of The ministry of Urban Development to extend the territory of NCR to Manesar, the place is set to emerge as a focal point for future real estate development. According to recent findings by Cushman and Wakefield, Manesar is listed amidst the top prospective investment locations in India.

Scarcity of land and its saturation elsewhere is another reason for attracting eminent property developers to undertake projects here. Many leading and trusted developers have undertaken development in this area and a major chunk of property has been purchased which signals towards the tremendous growth potential of Manesar.

Inclusive Approach
Betting high on the real estate growth of the city, builders and developers in Manesar are attempting to develop a truly contemporary and a new age city. The basic infrastructure of the city supports rapid and massive developments of building projects that would accommodate several families that are looking for a home within their limited budgets. Futher, Town and Country Planning Department of Haryana is planning to build recreational centres, educational and health institutions, commercial offices, and retail shops to increase the scope of integrated townships in the city.

With all the above developments taking place, Manesar has become one of the most sought after destinations for both residential and commercial purposes. With the revival of Indian real estate, the sector is attracting investors who find it the most fertile one to garner large returns on investments. This in turn is leading to increased demand while pushing property prices upward. Witnessing a high-speed transition from an obscure village to the hub of industrial and commercial activity, Manesar is already a preferred destination for future investment.

The author is MD, ABW Group