The Sohna region is still a major residential hotspot in Gurgaon with improvements in overall infrastructure and connectivity and abundant supply of new residential units. Residential rates have remained steady in this belt and real estate markets have received a boost with the announcement of the up gradation of the vital Sohna Road or National Highway 248A Road last month by the Union Minister Nitin Gadkari.
The work will start from Rajiv Chowk and will be finished till Sohna and once this is done, the elevated road will function as a crucial link between Gurgaon and Alwar City in Rajasthan. This will help in lowering traffic congestion levels in areas such as Badshahpur, Subhash Chowk, Sohna Road, Nuh, Bhondsi and several other areas which are located along the National Highway. The Sohna Road commences from Rajiv Chowk and goes towards Sohna, intersecting the Southern Peripheral Road (SPR) and the Golf Course Extension. Sohna will therefore become a major realty hub in the future along with sectors placed near the highway.
As per the Master Plan of the region, there are 38 sectors across residential, industrial, commercial and institutional categories. The SPR can be accessed within 20 minutes from the Sohna Road at present and the Golf Course Extension is also accessible. The Indira Gandhi International Airport can be accessed within 40-50 minutes while the DLF Cyber City can be accessed in lesser time. The coveted residential zones are Sectors 5, 4, 11, 6, 12, 33, 14, 36 and 35. According to experts, the growth in infrastructure and the proposed connectivity improvements are responsible for the growth in residential activity in Sohna.
The SPR is expected to get fresh commercial space supply of 10,000 sq. ft. approximately in the near future. People working at offices in this stretch will want to purchase residential housing units in Sohna and along the Sohna Road since the rates are still pretty affordable. Several leading developers like Tulip Limited, Ashiana Housing, Central Park, Supertech Limited, GLS Infratech Private Limited, ILD and Raheja Group are active here. The region offers housing options across all categories right from affordable and mid-income housing to premium developments.
Apartments in the region are available at price points between Rs.15-90 lakh. Sohna is currently witnessing an average residential property rate of Rs.4,546 per sq. ft. approximately and Sohna Road has an average rate of almost Rs. 7,400 per sq. ft. Sectors like 47A, 47, 49 and 48 have higher property rates. Developers like Omaxe, BTTP, Vatika and Raheja Group have prime projects near Sohna Road. Sohna Road has several shopping complexes, offices and malls while Sohna is regarded as a major educational hub. Reputed educational institutions like DPS, SRM University and GD Goenka University are located here along with the Medcity multispecialty hospital.
Prices have remained more or less stable over the last year and several projects will be completed in this stretch by 2018. Industry experts anticipate a price rise between 5-7% in the region in the near future on account of problems faced by neighbouring areas and other land acquisition challenges which are hindering development in SPR.
