From Underdog to a Market Player
Sohna Road is known for various real estate segments, ranging from residential apartments, commercial space, villas or IT Parks. This location has indeed earned its reputation and has become the center of attraction in Gurgaon. Enhanced connectivity and growing infrastructure has helped this area gain its demand in the property sector. This area, a few years ago was a deserted area wherein people would think twice before stepping. As Gurgaon started to expand, the developers eyed this location which had land, however was waiting for its chance to come to the limelight. This led to boost the demand with appreciation in property prices in this belt. Due to acute appreciation of almost 50 % in the prices of residential and commercial segments here, it has become a hotspot destination for investors. A large amount of demand is from the strong zone of people working in MNCs. Sohna Road is developing to be the next corporate hub of well paid professionals, which is also generating a strong housing demand as well.
The Gurgaon Sohna 2031 Master Plan
Announced in 2012, The Gurgaon-Sohna 2031 Master Plan, will develop the 6,110 hectares of land, will be a bonus to regulate the real estate market in Gurgaon. As per the plan, above 20% of the area is marked for industrial purpose, while 28% for residential purpose. With its approval, more than 30 sectors are expected to develop in the coming years. According to the master plan new residential, commercial, institutional, industrial areas will be developed in the projects of transport and communications, public utilities, public and semi-public use, open source, agricultural zone green zones. The project is supposed to give a new identity to the place.
Real Estate Trend
Residential plots in the area are braced between INR 70,000-80,000 per sq. yd., whereas prices for apartment range between INR 6,000-9,000 per sq. ft. The proposed six lanes and NH-8 connectivity would definitely be a nice icing to the cake. Developers with special economic zones (SEZs) are also thinking about land use change after this notification.
Existing market players like Raheja, EMAAR, ILD, Supertech, etc. have already invested in here, and started with multiple projects. Some upcoming educational facilities include GD Goenka World School, KR Mangalam University, etc. are some of the other main attraction of the place.
The Future of Sohna Road
The proposed 1483 km Delhi-Mumbai Industrial Corridor (DMC) will help Sohna Road develop into a ‘smart town’ with ambitious facilities and all the luxurious amenities. The up-coming Kundli-Manesar-Palwal (KMP) Bypass coming into shape will extend its connectivity. Also The Haryana State Industrial and Infrastructure Development Corporation Ltd (HSIIDC) will develop an Industrial Model Township (IMT) in Sohna. The IMT Sohna will be the next big industrial park around. This will definitely increment the investment in the surrounding region.
Real estate experts say that Gurgaon-Sohna realty market will be an independent market. Projects located on Dwarka-Gurgaon Expressway or Golf Course Extension Road are not likely to affect the Sohna realty market. Certainly, in the coming time it will flourish the dreams of many people aspiring to own their own home and commercial space here. Sohna Road is expected to emerge as the next big property player in the market in near future.
As real estate agent’s make an advance towards closing deals for Sohna, one must understand that the clientele they are approaching is going to be highly skilled and techno savvy. It would be best for the brokers and agents to constantly be in touch with their clients for follow-ups and deal closures. Kolabro brings to you an easy to use app which would help you manage your clients with its built-in CRM. It is available for both i-Phone and Android phones.