Gurgaon-Sohna Road gets a boost with approval of new master plan
Gurgaon- The new master plan for Sohna, which sanctions the development of 6,110 hectares, seems to highly influence the real estate scenario of the region. More than 20 new sectors have been notified in the new master plan.
Draft Development Plan 2031 for four towns of Haryana, namely Sohna, Kurukshetra, Farukhnagar and Rohtak have got approvals from the Haryana government. With this approval of the master plan, several launches of residential, commercial and industrial projects are expected to be launched in the towns, which would bring up a vital improvement in the real estate of Haryana.
The new master plan for Sohna estimates a population of 6 lakh people by 2031. By calculating a density of 300 people per hectare, it proposes the development of 6,110 hectares. As per the plan, above 28% of the area is earmarked for residential sectors while 20% for industrial purpose.
Around 5,000 acres of land will be reserved for residential and commercial development in over 20 sectors, and 2,600 acres of land will be earmarked for green and open spaces under the plan. Besides this, 1,600 acres will be preserved for an Industrial Model Township (IMT) which will be developed by the Haryana State Industrial and Infrastructure Development Corporation Ltd (HSIIDC).
Sohna will be provided with fast connectivity to Delhi and Faridabad and in this regard, the plan has proposed a 150 metre-wide Gurgaon Extension Road which will directly connect to the existing Golf Course Extension Road, from Sectors 63 and 64.
The 1,483 km-long Delhi-Mumbai Industrial Corridor (DMIC), a mega infrastructure project and its industrial estates, along with the KMP corridor, is located close to Sohna Road. This prime vast industrial corridor will definitely add to the value of investments in the surrounding region.
Following the approval of the new master plan, the rate of land acquisition in Sohna has swiftly raised. Developers and promoters have started acquiring land banks in the area and those with special economic zones (SEZs) are thinking about land-use change after the notification.
Gurgaon-Sohna Road is among the fastest developing stretches in Gurgaon real estate market. It seems to be the city’s next big site for commercial and residential development in the near future.
It has easy access to NH-8, IGI Airport, Golf Course Road, Delhi and other NCR regions and also to the proposed KMP highway. Southern Peripheral Road is close to the established residential corridor of Sohna Road. The rate of appreciation of property in Gurgaon-Sohna Road is expected to reach 18 to 20 percent in the near future.
Real estate analysts are of the opinion that the Gurgaon-Sohna realty market will be an independent market. The price movements and absorption of projects located along Dwarka-Gurgaon Expressway or Golf Course Extension Road are not likely to affect the Sohna realty market.
The Sohna market would cater to the affordable segment wherein residential units in townships with group-housing and plotted developments are expected to be in the price range of Rs 3,500 to Rs 4,000 per sq ft.
Gurgaon-Sohna region has excellent connectivity and exhibits huge investment potential. It is located in close proximity to the main city which is a leisure hub, a leather hub, a sports hub. Industrial hubs like Roj Ka Meo, IT and ITeS project like Ascendas, KR Mangalam University and many other major developing hubs are located in the vicinity of Sohna.
Several leading realtors like Raheja Developers, Tata Realty, Gold Souk, Parsvnath, Godrej, IREO, Central Park, Universal, and Paras are coming up with their new projects here.
Raheja Developers has launched Raheja Aranya City, an integrated township close to IMT Sohna while Gold Souk is planning to launch Gold Souk Golf Links, a premium high-rise project that offers units of 1,250-2,350 sq ft at Rs 5,000 per sq ft. CHD Group’s CHD Avenue 71, a premium multistorey apartment project, is located on a 60-metre-wide sector Road. Unitech Group has a number of projects like Uniworld Garden 2, South Park, South City 2, Unitech Sunbreeze, Unitech Vistas, Nirvana Country 2 and the Residence along the main Gurgaon-Sohna Road.
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