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Capital values for properties in Sohna Road go up by 8%

Situated in the southern part of Gurgaon, a city in the Indian state of Haryana, Sohna Road is an arterial road that links Sohna or Greater Gurgaon to Gurgaon. Beginning at Rajiv Chowk extending up to Gurgaon, this 23 km stretch is witnessing major developments. Sections along Badshahpur Crossing and Rajiv Chowk are brimming with construction activity and are in turn leading to the developments along sectors 33, 38, 47 to 49 and 66 to 69.

Being a tourist destination, the stretch is dotted with many landmarks like the Grand Park in Aravali range, Shani Dev Temple, Shiva Temple and the Damdama Lake. Some of the popular neighbouring micro markets include DLF Cyber City, Golf Course Extension Road and markets in Gurgaon.

Connectivity

Distribution of Projects – Sohna Road
  • Sohna Road’s proximity to Golf Course Extension Road and the Netaji Subhash Marg Road have provided seamless connectivity to many commuters
  • The road’s proximity to Gurgaon too have helped improve intra-city connectivity
  • The Delhi Indira Gandhi International Airport is about 18 km away from the Netaji Subhash Chandra Chowk on Sohna Road
  • The nearest Metro station from the road is HUDA City Centre which is 5 km away from the Netaji Subhash Chandra Chowk
  • A number of state owned buses help ferry individuals from Sohna to HUDA City metro station

Infrastructure

  • The industrial belt along Gurgaon and Manesar have reached their saturation point, thereby leading to realty development in Sohna Road
  • The 2012 Master Plan for the stretch had 35 sectors notified under it and most of these regions have developed into becoming possible commercial, industrial and residential hubs
  • The area is liveable with social infrastructure in place with many educational institutions, malls and hospitals along this stretch. The growing commercial belt and the existence of many retail outlets is also luring many to shift base here
  • The upcoming industrial corridor and the neighbouring industrial hubs have created many employment opportunities
  • The recently built flyovers too have helped curb traffic bottlenecks here
  • Despite the Greater Gurgaon Sohna Road being a six-lane road, the unwanted speed breakers are causing a hindrance to the public
  • During monsoons, a few stretches along the road are prone to flooding that result in major damage
  • The lack of easily accessible public transport modes here is becoming a cause for concern for many inhabitants
  • The yet to be streamlined water and electricity supply too has created unease here

Real Estate Scenario

  • Cited as one of the fastest developing stretches along the entire NCR region, Sohna road has both ready and under construction projects
  • The stretch from NH8 till the Golf Course Extension Road junction is mostly inhabited but beyond this junction most of the projects are still under construction
  • Plots in Sohna Road are being bought by many developers who are now cashing in on the growing housing demand and are announcing many residential as well commercial projects
  • Sohna Road offers a range of residential projects starting from multistorey buildings to villas to row houses
  • The Greater Gurgaon Master Plan 2013 allowed local authorities to streamline the realty developments across the entire stretch
  • Over 20,000 residential units are up for grabs in the region and they all range between being affordable to uber luxurious
  • While multistorey buildings dominate the entire region with 75%, plots stand at 10% followed by individual homes and builder floors at 6% and 5% respectively
  • The current going rates for apartments in Sohna Road ranges between INR 6,500 and INR 11,000 psft
  • In the past one year the capital values in the region have appreciated by 8%
  • The robust rental return is another factor that is enticing many investors to invest in inventories here
  • In a span of three years, rental yields have seen an escalation of 33% and today it is cited to be around INR 20 psft per month
  • Compared to properties in posh localities like MG Road and Golf Course Road, plots here are cited to cost an average of INR 8,400 psft and villas anywhere between INR 10,300 and INR 17,000 psft

Download the Solid Grounds Micro Market Report on Sohna Road here.

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