Sohna Road is located within the vicinity of two major highways - Gurgaon Expressway (NH-8) and the upcoming Kundli-Manesar-Palwal (KMP) Expressway. Due to its strategic location, Sohna Road is emerging as a major area in the real estate sector of NCR. There is an assortment of real estate segments on either side of the road. With a total of 38 sectors falling under the Sohna Master Plan in the categories of commercial, residential, industrial, institutional, open spaces, transport and communications, public utilities, natural conservation zones and agricultural zones, Sohna Road is one of the fastest growing stretches in NCR.
Marking their presence, many prime realty developers such as Omex, Raheja, Vatika and BTTP, among others, have established a slew of residential and commercial projects. From high-rise to mid-rise apartments, villas to commercial spaces, IT parks to retail complexes, Sohna Road is gearing up to become the next axis of industrial, commercial and residential in the NCR.
Furnished with modern infrastructure, Sohna Road has a lot to offer to its inhabitants. There are many reputed educational institutions such as the GD Goenka International School and hospitals like the Medanta Medicity. There is no shortage of malls, restaurants and retail stores, as Omaxe Mall, Daisy Day, Bikaner Sweets and Haldiram, are all around the corner.
Key Projects in Sohna Road :
|Silverglades The Melia|
Connectivity and Transit Options
Sohna Road is conveniently connected to NH-8, Golf Course Extension Road, Gurgaon and NCR through Delhi Metro line. The new master plan showcases a Southern Peripheral Road that will bisect Sohna Road near Vatika City, leaving the metro line to run along Golf Course Extension Road. Once this is built, travel time to MG Road and Delhi will be reduced considerably.
1. Omaxe Mall
2. Netaji Subhash Chandra Chowk
4. GD Goenka World School
Factors for Growth in the Past
Due to the unavailability of land, Old Gurgaon and NH-8 reached a state of saturation over a year ago. As a result, investors and developers kept a keen eye on Sohna Road as they found vast opportunities for expansion and growth, paralleled with good connectivity to the major areas in and around Gurgaon. Sohna Road also has benefited from its propinquity to the airport and the advent of planned infrastructural development in hospitality and educational sectors.
Post-establishment of Manesar as an industrial model township, the entire stretch leading from Manesar up to Gurgaon has seen a monumental rise in commercial and industrial growth. The availability of land plots and ample employment opportunities are the major factors that have driven residential and commercial development in this location. This in turn, has led to appreciation and a soaring demand in property prices on Sohna Road.
Residential & Commercial Markets
When it comes to property prices, Sohna Road and the surrounding areas have witnessed conspicuous growth. This trend is expected to be foreseen in the future as well. In the past few years, property prices have shot up by around 50 per cent. The trend has been seen in both, commercial and residential segments. In the next few years, capital appreciation of up to 15-20 per cent is expected. Investors see this as a great opportunity on a long term basis as it is undeniably expected to generate profitable returns on their initial investment.
There is flexibility on prices, as one can find properties according to their budget. An apartment can cost from anything around Rs 6500 -9,500 per sq. ft., while the prices for villas range from Rs 3,000 -7,000 per sq. ft. Commercial property starts at around Rs 11,500 per sq. ft. Although, rent is considerably high on Sohna Road, with the price starting at Rs 30,000 to Rs 1 lakh per month, it is considerably affordable when compared to some other areas like Golf Course Road and M.G. Road in Gurgaon.
The average rent price for a multi-storey apartments in Sohna Road as per the first quarter of 2014 is Rs 17 per sq. ft.
Despite being an essential segment of Gurgaon, parts of Sohna Road still remain isolated, due to the shortage of public transport and no last mile connectivity. Commuting, as a result, is a major problem for the residents living here. In the last few months, there have been different variants of auto-on-call, but many find this as an as expensive option. The extension of the Delhi Metro to Gurgaon has improved connectivity; however, the residents residing in and around Sohna Road have benefited the least.
But it's not only the misplaced public transport system that has made life challenging for the residents, the other civic amenities also need to be worked upon. Turbulent electricity supply and water shortage, insufficient public conveniences are some of the problems that government and civil administration need to work upon, along the 7km stretch.
Factors for Growth in the Future
With Sohna Road all set to become a state highway, as per the new master plan, it will definitely see vigorous growth in the near future. Already emerging as NCR’s next vital site for residential and commercial developments within few years, a few of the leading real estate companies have set up their projects in this area of Gurgaon. There are a multitude of MNC companies that are looking to tap Sohna Road for housing their future offices. The imminent Kundli-Manesar-Palwal Expressway and the proximity of Roz-ka Meo to Gurgaon, would also ensure the development projects on Sohna Road to become more viable for investors.
There are many new projects in Sohna Road lined up such as Tulip's Tulip White, EMAAR MGF's Palm Studio, Raheja Developers' Raheja Aranya, Unitech's The Villas, Tata Housing's Tata Primanti, South City 2, Nirvana Country 2, Today Group's Princeton Floors, Spire World's Spire South, CHD Developers' Avenue 71, Park View Spa. Parsvnath Developers plans to invest Rs 1,100 crore in the span of the next four years to develop a mammoth 107 acre integrated township on the Gurgaon-Sohna road.
Enjoying its niche position in the realty market, Sohna Road is expected to witness a capital appreciation of about 15-20 per cent in the coming years.