Connectivity To The 135 km-long KMP Expressway And The Delhi-Mumbai Expressway, Planned Infrastructural Developments, And Accessibility To Education And Health Establishments Have Brought Sohna Into Focus As A Top Destination For Housing Requirements. Ak Tiwary Writes .
As a part of South of Gurugram, the fast emerging residential hotspot, Sohna, has become synonymous with its name, meaning “gold”, due to its proximity to industrial and professional hubs.
The Sohna micro-market in Gurugram’s south and neighboring micro-markets currently comprises affordable and high-end residential complexes, and substantial commercial and hospitality developments.
As a result, Sohna has become a real estate hotspot, particularly for affordable and midsegment housing, including group living, builder floors, and villas.
The main benefit is that property in this micro-market is significantly less expensive than in neighbouring micro-markets. It is also an appealing market for investors because of the lower entry point.
According to real estate specialists, better connectivity, enhanced infrastructure, and urbanization, are the key reasons for the real estate sector’s development in the Solana zone. As per a report, luxury and mid-segment real estate is thriving in Sohna, with 57% supply in the Rs 1 crore and above category in the April-June 2021 quarter in Gurugram and Faridabad.
The same research sheds insight on the appeal of 3BHKs, which account for half of the overall supply. Top-notch firms like Raheja Developers, Supertech, Signature Global, Pyramid, Ashiyana Housing, and Ashiyana Homes, have developed affordable projects here.
Enjoying excellent connectivity with good infrastructure development, Sohna is a comparatively much affordable market compared to the neighbourhood micro-markets.
A report by Anarock consultancy says Sohna as pipped Greater Noida West in terms of performance. Over the last seven years, residential market of Sohna has appreciated by 12%, compared to 11% in Greater Noida West.
On average, property rates in Sohna have appreciated from Rs 3,648 psf to Rs 4,070 psf, whereas, in Greater Noida, the rates moved from Rs 3,050 Psf to Rs 3,370 psf.
Amarjit Bakshi, CMD of Central Park, says demand for projects in the lap of nature is high, and Sohna has projects like Central Park Flower Valley that cater to the housing market. Sohna, Famous for its hot sulfur springs, is an emerging residential zone that has turned into a real estate gold mine.
“As a developer, we understand that wellness is the key to holistic happiness and that people are coming to Sohna in search of a better lifestyle. We endeavour to provide them floors, villas, group housing, and plots with thoughtfully planned, exclusive amenities, so that they do not have to move out for anything,” Bakshi says.
Navin Raheja, CMD of Raheja Developers. says: “The constraints imposed by Covid-19 are more related to an increase in demand for larger homes. Work from home is becoming more popular, which will lead to changes in house design such as home office, yoga space, and decks with natural light and ventilation coming out as the most critical aspects. Resultantly, all the residential real estate segments have seen the shift.
” Pradeep Aggarwal, CMD of Signature Global, said: “Sohna has maintained its allure by steadily enhancing its livability index and progressing to ward becoming a self-sufficient region. It will gain when the first phase of the Delhi-Mumbai Expressway opens in late 2021, helping it in establishing itself as a new economic hub by improving road connectivity. Overall, the market is thriving for institutional investors and gated community enthusiasts seeking safer, less cluttered and hygienic abodes.
” Ankit Kansal, founder MD of 360 Realtors, said: “On the other hand, our data demonstrates how this demand trend has changed since the pandemic began. Previously, the essential factor for homebuyers was proximity to work. However, demand has surged in areas other than those near business hubs since the Covid-19 outbreak ushered in the new normal and work from home became the norm.
” Razat Goyal, Director of MRG World, says: “With world-class infrastructure like the Delhi-Mumbai Expressway and construction of 15km-long flyover from Sohna to Rajiv Chowk, Sohna has notched up an impressive performance as one of the best micro-markets in the NCR. In recent years, Sohna has emerged as a preferred market for end users and investors.
” Navdeep JP Sardana, CMD of Whiteland Corporation, said: “Due to the epidemic, many companies have indicated that their employees will work from home for an extended period. So, buyers choose properties in less densely populated areas regardless of their proximity to employment. The surge in suburban demand is aided by the work-from-home culture. This is a good thing because people no longer have to trade space, size, or location to be close to their workplace.”