Tourist destination to residential hub

HOTSPOT: SOHNA, GURUGRAM

Nestled in the foothills of Aravalli, Sohna was for long a major tourist attraction due to its lakes, hot springs, temples and many places of historical importance. Located in the southern part of Gurugram, Sohna is also popularly known as ‘South Gurugram’. The fast-paced growth in key areas such as MG Road, Udyog Vihar and Cyber City has created a ripple effect and pushed developments towards the western and southern parts of the city. This led to the emergence of new areas such as Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR) and Sohna Road - leading right up to Sohna town.

With proximity to various business centres and industrial clusters, good overall accessibility, affordable prices and planned infrastructure upgrades, Sohna is evolving as a critical real estate destination for the working population of Gurugram and surrounding regions.

Sohna is easily accessible from the key cities of NCR via an existing grid of roads — NH-248A, KMP Expressway, Southern Peripheral Road (SPR) and Northern Peripheral Road (NPR). Gurugram railway station is the nearest to Sohna, at a distance of approximately 28 km, the Indira Gandhi International Airport (IGI) is about 40 km away, and HUDA city centre is the nearest existing metro station, located 26 km from Sohna. The Gurgaon Manesar Urban Complex Master Plan 2031 has proposed a new metro route that will pass through Golf Course Extension and SPR until Manesar.

Currently, Gurugram’s core areas along with the initial stretch of Gurugram-Sohna connecting road (from Rajiv Chowk to Badshahpur) have sufficient social infrastructure. Sohna’s realty market is led by affordable and mid-segment housing. With massive demand from endusers in the low and mid-income groups, Sohna has attracted several developers, including Ashiana Housing, Raheja, Supertech, Tata Housing and many more. As Sohna is in a nascent stage of development, most of the projects are in the underconstruction stage and likely to be delivered within one-four years. In the next two years, a large portion of previously-launched units is expected to be delivered.

The current average residential property prices in Sohna range between ~4,000 and ~4,300 per sq ft. Due to the impact of recent reforms such as demonetisation, RERA and GST, prices corrected marginally during the past few quarters. However, the average prices in the region have risen marginally by around 3 per cent between Q1 2015 and Q3 2017.