top executives and foreign nationals who work in many of the industries.
These officials were dependent on Gurgaon for premium and luxury housing needs. However, some developers such as Landmark Group and Raheja Developers are coming up with luxury projects that are quoting in the range of Rs 3,500-4,000 per sq ft.
Apartments in Dharuhera are available at affordable prices and compares favourably with Noida Extension amd Sonepat, which are also far suburbs of NCR. Housing here is still within the reach of the middle class and is likely to give good returns over a long term.
Several far flung satellite cities in and around NCR are also developing as retirement home destinations, and Dharuhera also qualifies for being one. Many middle income group buyers have turned out to be investors and are purchasing second homes, which can give them rental income and appreciation over long term.
Dharuhera is a destination offering basic amenities at affordable prices, which is likely to improve within a period of 3-5 years. One can expect a minimum of 15-20 per cent returns on their investments here. l
ó The author is MD, Bajaj Capital. With inputs from Sunil Agarwal, principal advisor, Bajaj Capital Realty