A safe investment
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.