A safe in­vest­ment

HT Estates - - Front Page -

Last year, I in­vested in Ra­heja Aranya, one of the most pres­ti­gious and am­bi­tious projects of the com­pany, on Sohna Road. I bought a 250 square yard plot at R28,000 per sq yd through Jones Lang LaSalle (JLL), a global real es­tate ser­vices firm. I came to know through JLL that Sohna Road is an up­com­ing res­i­den­tial area. The govern­ment is plan­ning to set up in­dus­trial model town­ships here. Be­sides, a lot of other in­fras­truc­tural projects are in the pipe­line. This will cre­ate a lot of jobs in the area, which in turn will cre­ate a hous­ing re­quire­ment.

I am cur­rently work­ing in a phar­ma­ceu­ti­cal com­pany in Greater Noida and I live in the area. So, the pur­chase is purely for in­vest­ment pur­poses, but if the pro­posed de­vel­op­ment plans take place, I may plan to move there. As far as price ap­pre­ci­a­tion is con­cerned, the prices in the sec­ondary mar­ket have gone up by R2000 to R3000 per sq yd in one year. Ra­heja has also launched the sec­ond phase of this pro­ject at a price of R32,000 per sq yd. So the re­sale price of phase I is lower than the launch price of phase II.

The good thing about Sohna Road is that top­most de­vel­op­ers are now eye­ing the area. Tata Hous­ing has re­cently launched a pro­ject here. Ac­cord­ing to the de­vel­oper, Ra­heja Aranya is spread over 107.85 acres of land. Be­sides this, sev­eral thou­sand acres of for­est and the Aravalli ranges in the vicin­ity add to its green quo­tient. Group hous­ing con­do­mini­ums, pent­houses, de­signer homes, vil­las and plots will come up in this in­te­grated town­ship. Keep­ing in mind all the fea­tures, it’s a safe in­vest­ment.

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