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Indian Real Estate News : Delhi NCR
Gurgaon-Sohna road set to emerge as the next axis of industrial, commercial development
Source: TNN Jun 23, 2012
Gurgaon-Sohna road is now the most happening place in Gurgaon. The developing area is well connected to NH-8, Golf Course Extension Road; also, it has excellent connectivity with Gurgaon and the NCR through the Metro line.
The proximity of Roz-ka Meo to Gurgaon, as well as the upcoming Kundli-Manesar-Palwal Expressway, could make the projects on Sohna Road more viable for investors.
With Manesar and Gurgaon reaching saturation levels for industrial development, new townships on this developing stretch could be the new destination for big industries.
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has acquired nearly 1,700 acres in Roz-ka Meo, about 26km from Gurgaon, to establish a new industrial township on the lines of IMT Manesar.
Here, new projects like Tulip's Tulip White, Raheja Developers' Raheja Aranya, EMAAR MGF's Palm Studio, Tata Housing's Tata Piramanti, Unitech's The Villas, Nirvana Country2, South City2, Spire World's Spire South, Today Group's Princeton Floors, Bestech's Park View Spa, CHD Developers' Avenue 71, etc, have received a good response.
Sohna Road enjoys a niche position in the realty market. It is expected that in the near future, the place will see a capital appreciation of around 15-20 % depending on individual projects and locations.
After a boom in the residential development on the Sohna Road, the area is set to emerge as the next axis of industrial and commercial development like the MG Road.
Since the establishment of industrial model township in Manesar, the whole stretch leading from Gurgaon up to Manesar has seen a rise in industrial and commercial growth. Manesar is now home to some of the biggest names in the industry.
Vijay Gupta, the chairman and managing director of Orris Infrastructure, says: "The availability of land parcels for residential and commercial development is one of the main factors driving development in this location. This has led to rocketing demand and appreciation in property prices on the Gurgaon-Sohna Road.
Proximity to the airport and the planned infrastructural development in educational and hospitality sectors, have also driven prices. Commercial space on this road also commands fabulous prices, which keep going up depending on the location and preferences like floor plan, floor size or the inside area of the building.
After the slowdown, commercial real estate prices were corrected throughout the NCR. Rents have found support at the current level and developers and promoters are expecting the rates of commercial space to appreciate by up to 25-30 %, chiefly owing to national and international retail giants branching out on to the Sohna Road." Orris Infrastructure has launched Business Square in Sector 82A, Gurgaon. The project is a premium New Age commercial complex with office spaces and hotels.
The Business Square is over 9.5 acres with a 5-star hotel coming up on 2 lakh sq ft. The project also has office space for upscale multinational offices, budget hotels and a convention centre over 6.8 lakh sq. ft. Another project close to the Gurgaon-Sohna Road is the recently launched Aranya City by Raheja Developers. CHD Group's Avenue 71, on 16.5 acres, is a residential project with ground plus 22 storeys located strategically in Sector 71 on the Gurgaon-Sohna Road.
Ravi Saund, the chief operating officer of CHD Group, says: "A majority of the units in the initial phase of Avenue 71 have been booked in a record time. The township offers 2-, 3- and 4BHK apartments with a total saleable area of 15.5 million sq ft. The master planning of the project has been done around the flora rich central avenue to keep the residents in touch with nature."
Navin Raheja, the chairman and managing director of Raheja Developers, says: "Accessibility and connectivity are huge pluses for any project on the Gurgaon-Sohna Road, as residents will be able to commute with ease and convenience to Gurgaon.
Forthcoming commercial and residential projects on this stretch have allowed homeowners to create their own living scenarios, to be set according to their preferences like cinema ambience, subdued lighting with automatic closing of curtains and adjustment of the thermostat, etc.
The system becomes the home's brain, allowing users to create various living scenarios by controlling the lighting, the air-conditioning, the television and other electronic gizmos at the press of a button."

Improving infrastructure

Huda has prepared a new road map for the Gurgaon-Sohna Road, which was constructed in 2008, keeping in mind the exploding vehicular movement in the area.
Under this new road map, the existing road will be widened and footpaths will be built on both sides of road. Huda will also widen the 5.25km road between Rajeev Chowk and Badshahpur Chowk at a cost of Rs 44.5 crore. The stretch is expected to be developed into a commercial and residential hub on the lines of the Mall Mile between IFFCO Chowk and Sikanderpur Chowk on the Mehrauli-Gurgaon Road.
Apart from the carriageways, the project has provisions for service roads, footpaths, a green belt, a three-metre-wide central verge and also a one-metre-wide drainage channel.
Huda also plans to the kickstart the Southern Peripheral Road (SPR) project from Sohna. According to the plan for the project, a 17km-long road, which would be connecting the Gurgaon-Faridabad stretch to NH- 8, would also be implemented through this venture.

Tag: Real estate in delhi, delhi properties, delhi property
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