With prices in the rest of the city and Delhi rising beyond the reach of the middle segment of buyers, developers in Gurgaon have started looking out for better options in the areas beyond the present day city of Gurgaon. The coming up of Sohna Road was a move in the same direction, and, after witnessing the massive response from the buyer community in this area, developers have now moved on to a new area, Sohna. With extremely competitive prices compared to Sohna Road and the rest of the city, Sohna is riding high on the radar of property buyers who are looking for options in the affordable and mid segment.
Highlighting the potential of Sohna, Amarjit Bakshi, managing director, Central Park, says, “The launch of various projects in the South of Gurgaon (Sohna) has increased the traction in the area and is improving the infrastructure of the area. South of Gurgaon is fast becoming a destination for the aspiring class, giving them the feel of global townships.“
AFFORDABLE FOR BUYERS
Manish Agarwal, managing director, Satya Group and secretary CREDAI NCR, says, “In comparison to Gurgaon, Sohna Road is still affordable. However, in totality, it has grown to become a premium address here. Its development is similar to that of MehrauliGurgaon (MG) Road or Golf Course Road. There are only a few locations which can still be called `affordable’ here. This growth, nevertheless, has extended towards Sohna which still has a huge untapped potential.Given the ambitious vision of the government and its ability to lay out robust infrastructure in a short time, the area would soon become a part of Delhi, just like Gurgaon.“
Currently, the average land values here are much lower than the main Gurgaon city. In areas near Sohna Road, the average land prices depend on its proximity to Gurgaon and the main Sohna Road.
Even the prices of built spaces such as apartments or independent houses differ by a huge difference.
What’s astonishing is that a decade ago, land here was priced at around `3,000 per sq yard. Those who have retained their land pieces since then have been able to grow their net worth by more than a thousand times.
Well, then, it was just a rural area near a developing mega city -Gurgaon.Today, Sohna to Gurgaon is what Gurgaon is to Delhi.
Rampant construction and South of Gurgaon’s development plans as per the Gurgaon Master Plan 2031 have made it one of the most promising investment destinations.
The only factor lacking in making Sohna an integral part of Gurgaon is its connectivity to the developed areas. While it is already connected via the Sohna Road, the Gurgaon Master Plan-2031 lays immense emphasis on improving the same through several mediums. A leading developer who has launched a project in this area, says, “According to the Master Plan-2031, Sohna Road is planned to be developed into a state highway. This would boost real estate growth along this road until Sohna. Also, the location is planned to be connected to the Metro which is expected to run along the Golf Course Extension Road and the Southern Peripheral Road (SPR).“
Moreover, the upcoming K u n d l i M a n e s a rP a l w a l (KMP) Highway and the dedicated freight corridor are also expected to positively impact its connectivity and investment potential.
The KMP Highway directly links NH-8 and NH-2 and the dedicated freight corridor houses all the major mega-investment projects.Experts anticipate the positive impact of job creation along these two major expressways to be visible in areas within a 10-km radius. Falling in the vicinity of both, Sohna offers several avenues for investment and a healthy growth potential.
WHAT’S UP FOR GRABS?
Unlike Sohna Road, where maximum property options are multi-storey apartments, Sohna majorly offers plotted developments. Due to avail ability of large land parcels and presence of more investors than end-users, developers prefer offering residential plots, which also offer better appreciation than built spaces. More than half of the total residential supply in Sohna is for residential plots followed by multistorey apartments.
Sohna majorly offers 2-BHK units in the sizes ranging between 700 and 1,200 sq ft. With maximum demand from middleincome investors and homebuyers, 2-BHK units record maximum buyer preference as they are easy to rent and even resale later.
So, one may consider Sohna for several reasons -affordable property prices, immense potential to multiply money, numerous property options to choose from and proximity to Gurgaon and major developing zones.
check out some affordable projects of sohna :