Why Sohna is the New Growth Vector in Gurgaon
Date : February 15, 2018
Category : Corporate & Industry news
The real estate sector in India, and especially in the urban areas, is one that has steadily grown in the past decade or so. Consumers, and consequently property developers, are always on the lookout for newer avenues to explore, where they can combine the convenience and connectivity of the city life with affordability as well as the much-needed privacy and amenities.
The latest venture towards this end in the Delhi-NCR region is Sohna Road in Gurgaon. Various developers are undertaking residential projects on Sohna Road, including some of the biggest names in the real estate sector such as Tata Housing, ILD, Ashiana Homes, Supertech, Central Park, Ireo, Eldeco and Silverglades. This also includes the collaboration of eleven builders towards the South of Gurgaon project, an integrated luxury township in Sohna.
The biggest attraction of Sohna Road, is that, while being relativity removed from the noise and pollution of the commercial areas, it still guarantees excellent connectivity to all parts of Gurgaon, Delhi and beyond, as well as proximity to all the facilities required for an ideal family life. This will further be enhanced by upcoming developments in and around the area, such as the operationalization of the Manesar-Palwal section of the Kundli-Manesar-Palwal (KMP) Expressway, the development of the Industrial Model Township of Sohna and the planned section of the Western Dedicated Freight Corridor (DFC) passing through Sohna. Besides this, housing affordability in Sohna Road has been rated high, as the cost of majority of the residential projects range between INR 37 lakh and INR 58 lakh for 2 BHKs and INR 61 lakh and INR 89 lakh for 3 BHKs. According to a newspaper report, Sohna currently accounts for one-third of the supply of affordable 2 and 3 BHK flats in Gurgaon.
The success of the Sohna project is evident, due to some measurable results. Sohna Road and South of Gurgaon is set to get around 12,000 to 13,000 new residential units by 2020 and is expected to rise steadily on the liveability index in 5 – 7 years, according to a report by property advisory firm Cushman & Wakefield. The options of 2/2.5 BHK and 3 BHK flats have been the most preferred sizes, comprising about 88% of the total supply on Sohna Road.
The parameters on which Sohna has emerged favourable on the liveability index include road connectivity, education and infrastructure initiatives.
As of June 2016, around 9,000-10,000 group housing units have been officially marketed, along with options of plotted developments and independent floors, and new ones are coming up all the time. Besides this, around 4,000 affordable housing units under Haryana Affordable Housing Scheme have also been launched in the market. Each of the builders is paying attention to the timely delivery of projects, in compliance with RERA.
A report entitled ‘A Glimpse of an Evolving Growth Vector: Sohna, South Of Gurgaon’ commissioned by realtors’ body CREDAI said, “It would be imperative for Sohna to come up as an independent self-sustaining city, with infrastructure and civic requirements robustly built and maintained by the civic authorities of the location and creating appropriate retail and recreational centres within the region to reduce the locations dependency on the nodal locations of Gurgaon and NCR.”
Sohna Road has been yet another initiative towards the progress and betterment of the Millennium City, Gurgaon and towards putting a smile on the faces of the hardworking residents of Delhi-NCR.