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THE FACE OF SOHNA IS CHANGING WITH NEW DEVELOPMENTS AND CONNECTIVITY PROJECTS TO BOOST REALTY GROWTH
Boasting of prime location, excellent connectivity, infrastructure development, and coupled with progressive policies of the Haryana government, Sohna (as an extension Gurugram) has emerged as an attractive investment destination for real estate.
The latest and the biggest connectivity driver is coming Delhi-Mumbai Expressway and its proposed link up with the upcoming Jewar Airport. The entire 8 lane access controlled Delhi-Mumbai Expressway spanning over 1,250 km is slated to be operational by the end of 2022.
Gurugram realty in general and Sohna in particular, will get a connectivity boost with Sohna-Jaipur stretch of Delhi-Muinbai Expressway getting operational by the end of the year. The 6-lane access-controlled E-way from Sohna to Rajiv Chowk on NH-8 is also slated to get operational by the year-end.
Haryana has also planned theme hubs like sports hub, leisure hub and leather hub along the KMP expressway under the final development of Sohna. Further the 44 km new Greenfield link, connecting Delhi-Mumbai Expressway with the upcoming Jewar airport via Ballabhgarh, will provide a considerable impetus to real estate In the South of Gurugram and New Gurugram. While 37 km of this link will be in Haryana. The rest 7 km will fall in Uttar Pradesh. Yamuna Expressway Industrial Development Authority (YEIDA) has already initiated finalizing site alignment and cost estimate for the 7 km link involving a bridge over Yamuna River. NHAI, which will construct this stretch, has already undertaken construction of the 37 km portion of the link road falling In Haryana.
Moreover, the Centre and Haryana government have scouted few locations like Nimoth, Rahaka, Ghamroj and Hajipur in Sohna, South of Gurgaon for the prestigious project. The Science City will be the first In the NCR and fourth in the country after Kolkata. Jalandhar. Ahmedabad.
Pradeep Aggarwal, chairman, Signature Global, says growth of MNCs deeper in to Gurugram has made it a sought-after location, particularly for those who work for these companies and those who want to reside in an area that can provide them with strong employment opportunities. With a lot of development and connectivity in and around Sohna, people have understood that the realty market that this will be a perfect place to reside or establish businesses as this place has focus on all groups rather than just wealthy groups.
Navin Raheja, CMD, Raheja Developers said, ‘Undoubtedly it will enhance the real estate and tourism index of the city attracting property buyers and Investors. Especially the South of Gurgaon which has important leisure and tourist facilities like Damdama Lake and Hot Water Medicinal Springs will get benefited.’
“The main reason of growing realty market in and around Sohna. Is gaining lot of popularity Sohna micro-market now features inexpensive and high-end residential complexes and major commercial and hospitality developments. As a result, Sohna has become a real estate hotspot, notably for economical mid-segment housing with options such as group living, builder floors. and villa” Anubhav Jain. MD, Silverglades.
The most significant advantage is that property in this micro-market is far less expensive than in neighbouring micro-markets. Because of the cheaper entry point, it is an attractive market for investors also.
According to a recent report by Anarock Properties, an analysis or the new home launches during FY 2021 shows that home buyers are moving to the peripheries, preferring to buy homes in gated communities. As per the report as many as 67% of new launches in FY 21 were in fringe areas like Sohna, Sohna Road, Greater Nolda West and Yamuna Expressway in the NCR. This was a significant jump over FY 19 when the share of new properties was 49%.
The report attributes this trend to the growing demand for homes In green and serene areas on the outskirts of cities. Lying on the foothills of Aravalis with huge green paces, Sohna has emerged us the most sought after area. Especially, as it offers luxurious and spacious independent floors In gated communities like Signature Global Park. It has Income easier to buy independent floors under Deen Dayal Jan Awas Yojna (DDJAY) here and enjoy all amenities in gated complex rather than living on rent. The development is taking shape at a fast pace while the area is home to many affordable housing projects, there is no dearth of projects in other segments too.
The home buyers’ Interest has remained due to various offerings, including commercial, Luxury; midincome and cheap housing. South Gurugratn, as it is now known, has shown remarkable progress on many of the significant livability index factors, indicating that it has the potential to develop into an urban centre In the next five to seven years. The cost of residential dwellings here runs between Rs. 37-58 lakh for 2- BHK and Rs. 61-89 lakh for 3-BHK, making affordability of housing one of the most important aspects.
Sohna has come up as a most popular housing destination in the NCR not just because of the affordable lifestyle homes that it offers, but also because of the rapid strides it made on the connectivity front. Besides its connectivity to NH 8 through a fast coming up 6- lane expressway; it has an all-important node to upcoming Delhi-Mumbai Expressway.
The Haryana Orbit Rail Corridor between Palwal and Sonipat. passing through Sohna, Is set to give a major connectivity boost to Sohna which has seen 12% appreciation in property prices over last seven years. And with key Delhi-Mumbai Expressway and 6-lane Sohna Eway expected to be completed in a year’s time. Sohna’s attractiveness as a real estate investment destination will further go up.
With such world class infrastructure development the area’s appeal is Increasing as it energies as one of the NCR’s most cost-Effective real estate locations, with property prices as low as half of those in the Gurugram nucleus.