SOUTH OF GURGAON PRESENT PERFECT
Nestled on the foothills of Aravalli Range, South of Gurgaon has of late emerged as a new realty hotspot. Excellent connectivity, already built-in strong infrastructure, plus projects by some renowned developers have made the area a new destination for end-users as well as investors.
With the introduction of new road being planned in the master plan from Sector63A, Sohna can be approached bypassing Gurgaon completely. This 90metre wide link road from Gurgaon’s Sector 63 to Sohna will ensure smooth travel time of about 10 15 minutes from Golf Course and Golf Course Extension Roads.
Rohan Sharma, associate director -Research & Real Estate intelligence Service, JLL India, says, “South of Gurgaon is an emerging residential and integrated commercialindustrial corridor which will do well to learn from the issues that currently afflict Gurgaon -that of haphazard growth and slow infrastructure development.While it is located in a pristine environment, there are visible signs of development coming to this region.“
A positive sign is that this location has a Master Plan 2031 document which shows the intent to create a holistic development agenda which can result in a sustainable ecosystem.
“The best part about the area is that it is half the price as compared to the rest of the up-market area.We have moved on from the broad terms and conditions of the proposed real estate regulatory bill, 70 per cent of the cost of the project will be kept in a separate escrow account and the company will pay delay compensation at equivalent interest rate of delay in payment. There will be no charge in case the super area increases in future, thus guaranteeing zero price escalation,“ says, Harinder Dhillon, senior VP, sales, Raheja Developers.
According to Sachin Sandhir, global managing director Emerging Business & MD, South Asia, RICS, “Proposed infrastructure here continues to add value to the overall development making it an attractive destination for those looking to buy units at slightly lower rates as compared to the rest of Gurgaon.“
Currently, many residential projects, largely in the form of integrated townships which offer multiple residential accommodation formats have been launched here by prominent developers. Developers like Raheja Developers, Tata Housing, Ashiana Housing, Supertech, Central Park, Eldeco Group, ILD, Silverglades, CHD Developers, MKS Ventures, Gold Souk and Nimai Developers are already developing projects here and have got tremendous response from the market.
Developed as part of the Master Plan-2031 of Sohna, the area is all set to witness a robust growth in the years to come.
The area has functional educational institutions, hospitals and retail outlets and other facilities, within short drivable distance.
Manish Aggarwal, man aging director, North Operations, India, Cushman & Wakefield, says, “Sohna is an affordable location compared to areas in the vicinity like Golf Course Extension and Sohna Road. The location may come up as an urban centre in a 5-7 year horizon upon completion of proposed infrastructure initiatives. Thereafter, the increased habitability would have a positive impact on the perceived safety and overall socio-economic environment.“
Anubhav Jain, director, Group Silverglades, says, “Sohna is seeing a lot of interest from homebuyers who are looking for property options. Sohna’s location, price points are very lucrative especially with flexi payment plans.“
Approximately 12,00013,000 housing units are expected to be delivered by 2020 in the entire area.
The upcoming Badshahpur Flyover and proposed pod taxi from Ambience Mall to Badshahpur Chowk will further reduce the access time for commuters to Sohna. The region is also in close proximity to the upcoming 1,483-km-long Delhi Mumbai Industrial Corridor (DMIC) and Kundli-Manesar-Palwal (KMP) Expressway which will further boost the road connectivity of Sohna.