??|?? October 13, 2012 ?? 06:03pm ??|
Sohna Road is located in the vicinity of two major highways i.e. Gurgaon Expressway (NH-8) and the upcoming Kundli-Manesar-Palwal (KMP) Expressway.
This is one of the fastest growing stretches in the real estate sector in and across NCR. The place is emerging as the city?s next big site for commercial and residential developments within few years, as some of the biggest names in the real estate business have come up with their projects in this part of Gurgaon.
This area, where development began barely 6-7 years ago, has now developed into an attractive destination for end-users, offering a good mixed-use developments. There are many MNC companies that are tapping Sohna Road as the location of their future offices. With high property rates in Gurgaon, Sohna Road comes as a profitable and affordable locality for real estate investors and buyers, but not for long.
Sohna Road has an excellent connectivity with NH-8, the Delhi airport and the Golf Course Road. The road itself will also turn into a state highway as per the new master plan. Therefore, this area holds the vast potential for robust growth in near future. The master plan also shows a Southern Peripheral Road which will intersect Sohna Road near Vatika City (Sector 49) and the metro line that will run along Golf Course Extension Road and the Southern Peripheral Road, which once built, will reduce travel time to MG Road and Delhi. The sectors which are being developed at a very high pace are 47-49, 66-69.
This area has been witnessing a healthy demand along with the supply from various reputed developers. In totality, location-wise and in terms of proximity to interiors of Gurgaon, Sohna Road offers good residential options. However, the infrastructure development is underway and the area is still not fully occupied. We feel that this locality is a good option for investment as well as for the end users. We can easily say that Sohna Road is a developed area where end users have already moved in as compared to the other upcoming peripheral areas like Dwarka Expressway and Pataudi Road.
There are schools such as GD Goenka and Pathways, hospitals such as Medanta in the vicinity that are already functioning, as are retail outlets. This would tend to raise the realty prices sooner. In the near future, connectivity is set to increase with a 150-metre road being constructed connecting Dwarka to Sohna Road.
With the rise in demand, the projects like Vipul Green and Tulip Ace which were launched at the price range of Rs 2,800 per sq ft are now selling in the range of Rs 5,500 per sq ft.
The prices in this area are still reasonable if compared to other areas of Gurgaon. The property rates of this area have showed stable to positive values in rates and have witnessed an average hike of 20 per cent per annum over the last 2-3 years.
Key players in the real estate sector have come up with their residential projects in the area, like CHD Developer?s Avenue 71, Raheja?s Aranya, Vipul Group?s Vipul Greens, Unitech?s UniWorld Gardens and Sunbreeze, and Spaze Builder?s Spaze Privy. Currently these projects are available in the range of Rs 5,000-8,500 per sq ft depending upon location, developer and stage of construction.
On the commercial realty front, some groups such as Spaze, Vipul, Orchid, Bestech have come up with their projects in this area.
We can easily say that Sohna Road, which is offering apartments at much more affordable prices that are well within the reach of the middle class will give good returns in the long run.
Residential investments in this area would be more fruitful in the present scenario as compared to commercial property. The commercial properties will take time to develop and our view is that it is best to stick to the residential format for investments at this point.
Sohna Road can therefore be looked as a good location for long term investors. With an investment period of 3-5 years, one can expect a minimum of 20-40 per cent returns on their investments.
If we compare Sohna Road with areas such as Bhiwadi, Pataudi Road and Manesar, it is the safest investment among them, with a minimum 15-20 per cent return on investment potential. On the other hand Dwarka Expressway is just beginning to develop and it will take several years to reach where Sohna Road is at present. Hence, we would recommend it as a destination for end users.
http://www.financialexpress.com/news/sohna-road-ideal-option-for-endusers/1016012/0
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Source: http://www.indianrealtynews.com/real-estate-india/gurgaon/sohna-road-ideal-option-for-end-users.html
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