Ugly Truth About golf Course Extension Road Gurgaon , once touted as the epitome of luxury real estate and a prime investment hotspot, is now grappling with a growing crisis: skyrocketing property prices and an alarming oversupply of unsold units. As this extension of the prestigious Golf Course Road corridor snakes its way from Sector 55 and 56 towards Sohna Road at Badshahpur Chowk, passing through Sectors 58, 61, 62, 63, 65, and 66, the landscape is littered with high-end residential and commercial developments that were once expected to fly off the market. Instead, they now face stagnation due to their astronomical price tags and changing buyer sentiment.

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Unattainable Luxury Ireo Grand Hyatt: A Monument to Excess
One of the most opulent projects on this road is Ireo Grand Hyatt, a luxury development that aspired to set new benchmarks in high-end living. With its iconic branding, lavish amenities, and promise of an extravagant lifestyle, it was expected to attract high-net-worth individuals from across the globe. However, despite its grand launch, this project has become emblematic of the inflated price bubble along Golf Course Extension Road. Priced far beyond the reach of even affluent buyers, many units remain unsold, with investors wary of sinking funds into what feels like an overhyped and overpriced market.

Ireo: Stuck in the Past
Following closely is Ireo Grand Arch another luxury project that once drew attention for its innovative design and upscale amenities. However, despite its architectural appeal, the Grand Arch has not been able to withstand the post-pandemic market realities. Launched at competitive prices before COVID-19, the project now sees its resale and rental prospects hampered by over-supply and a lack of demand for such high-end residences.


Commercial Projects Good Earth and Magnum Tower: Corporate Spaces Falling Short
Premium commercial developments like Good Earth and Magnum Tower, which were meant to attract top-tier businesses, are facing similar challenges.

Worldmark another high-profile commercial project on the Extension Road, promised to transform the area into a thriving business hub. Yet, despite its upscale offerings, a significant portion of the development remains unleased. The anticipated influx of businesses and investors simply hasn’t materialized, leaving Worldmark as a monument to the area’s overestimation of demand.

AIPL, Elan, and M3M: Overbuilt and Overpriced
Developers like AIPL, Elan, and M3M have flooded the Extension Road with commercial spaces, further saturating the market. Their projects, filled with state-of-the-art office towers and commercial complexes, were meant to capture a booming demand that never fully arrived.

The Price Trap: From Pre-COVID to Post-COVID

The sharp rise in real estate prices along Golf Course Extension Road has been one of the most dramatic in the NCR region. Before the COVID-19 pandemic, residential projects were being launched at prices under ₹10,000 per square foot, making them attractive investment opportunities. But the market took a drastic turn post-COVID, with developers hiking prices as high as ₹23,000 per square foot, especially for ready-to-move properties built with advanced Mivan construction technology.
Why It’s Backfiring

Pandemic-Induced Demand for Larger Homes: Initially, the pandemic drove a surge in demand for larger, more luxurious homes as people sought more comfortable living spaces. However, this demand has since waned, and many buyers are no longer willing to pay exorbitant prices for oversized properties that come with high maintenance costs.


Supply Outpacing Demand: The most significant issue is simple economics—there is far too much supply relative to demand. Developers have overbuilt luxury properties along Golf Course Extension Road, banking on an influx of buyers that never came. Now, unsold inventory continues to grow, and prices remain artificially high despite clear market signals that correction is needed.

A Market on the Brink?

The future of Golf Course Extension Road’s real estate market is uncertain. With prices at unsustainable levels and inventory piling up, the market is in desperate need of a correction. Developers may eventually be forced to lower prices, but until then, buyers remain hesitant, and unsold units are expected to continue accumulating.



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