Real Estate Market in Greater Gurgaon

Real estate market in Gurgaon is far better than other areas of NCR. Now HUDA start developing new sectors of Gurgaon and Greater Gurgaon is one of the big name in the list. Sohna Road is one of the booming area of Gurgaon and witnessing a boom with demand and supply of property keeping pace.

Greater Gurgaon just located 24km from main Gurgaon city. The newly-notified area in the new Master Plan of Gurgaon, and one of the new marketing name for Sohna Road. Currently, Sohna Road of Gurgaon is registering a big role in real estate market with supply keeping pace with demand, Real Estate experts says the area can emerge as the next axis for residential, commercial, institutional as well as industrial development in Gurgaon.

A number of developers and promoters like Raheja Developers, IREO, Gold Souk, Avlon, Central Park, Tata Reality, Godrej Properties, MVL, Universal, ILD, Parsvnath, Paras, Homestead, etc, have already started acquiring land banks in the area and those with SEZs are planning land-use change once it is approved in the New Gurgaon-Sohna Master Plan, 2031. Property experts say that with so many amenities proposed in the Sohna master plan, the area with its new marketing name, Greater Gurgaon, will be a big hit among the buyers.

Gurgaon has a lot demand for property in last couple of years, and Gurgaon property prices going through the roof in the main city, buyers are looking at newer areas like Greater Gurgaon, which offer equally good houses at less than half the rates of Gurgaon.

Various Real Estate Exterts says that currently Greater Gurgaon enjoys a niche position in the real estate market. With ongoing development of new real estate projects, the population of Greater Gurgaon is projected to grow tenfold by 2031. Considering all these factors, it is the right time for investors to enter in Greater Gurgaon Real Estate Market. Most of the big real estate firms of the NCR, Mumbai, and Bangalore are already actively looking to buy residential FSIs in the new Sohna master plan.

Why Invest in Greater Gurgaon

With improving infrastructures, very good connectivity and the upcoming world class real estate projects, Greater Gurgaon developing one of the top real estate destination near Gurgaon, which is ready to cater to the needs of every home buyer looking for a property close to Gurgaon in affordable prices.

The sectors of Greater Gurgaon lying on the new 150 Metre wide link road from Golf Course Extension Road will not only enjoy a premium positioning but will also have an advantage in terms of visibility and location, compared to all the other sectors within the Greater Gurgaon-Sohna Master Plan.

The area now has a new locality, spread over 5,000 acres of residential and commercial development, with excellent connectivity from the Golf Course Extension Road, which further connects to the main Gurgaon-Sohna Road and NH-8. This developing residential hub is located near the proposed Orbital Railway Corridor, which will connect the area with other major cities of the NCR.

Property market of Greater Gurgaon will be independent and remain unaffected by price movements and absorption of projects located along Dwarka-Gurgaon Expressway or Golf Course Extension Road. For example, the grouphousing projects on Golf Course Extension Road are priced at over Rs 11,000-Rs 12,500 per sq ft-but on Gurgaon-Sohna Road, they are still around 5,000-6,500 per sq ft. The Greater Gurgaon market will largely cater to the affordable segment. Townships with group-housing and plotted developments are likely to come up in the area in the price band of Rs 4,000-4,500 per sq ft.

New Master Plan for Sohna

As per the new Master Plan, 2031, for Sohna, the area of 6,110 hectares would be developed with residential property of 300 persons per hectare. The development plan of Sohna has been prepared for a projected population of six lakh people. Over 28% of the area would be developed as residential area while 20% has been allocated for industrial purpose. The 1483 km long Delhi-Mumbai Industrial Corridor is also located close by the upcoming real estate projects of Sohna.

All the upcoming mega industrial projects will be coming along with the KMP corridor will only add to the value of property investments here. Under the new master plan, 2600 acres land has been reserved for green and open spaces and 5000 acres land for residential and commercial development in over 20 sectors of Greater Gurgaon.

Apart from this, 1600 acres is to be developed for IMT (Industrial Model Township) by HSIIDC. The Haryana government’s plan for development of theme hubs like leisure hub, sports hub and leather hub plan along with the KMP Expressway has been notified. The hubs are a part of the final development plan for Sohna.

Major real estate developers like Gold Souk, Central Park, Homestead, Tata Housing, Raheja Developers,  Godrej, MVL, Universal, ILD, Avlon, Parsvnath, Paras Buildtech and IREO have plans to launch their new realty projects here.

Homestead builder is coming up with the residential plots, villas, independent floors and group housing on 138 acres in Sector 25 Sohna.  Gold Souk has plan to launch group housing projects in Sectors 17 and 25 in 150 acres land and offering premium apartments in the size range of 1250 to 2350 sq ft at Rs 5000 per sq ft. Raheja Developers has planning for Raheja Aranya City, which is a plotted-development and located on the existing six-lane of Gurgaon Sohna road in Sectors 11 and 14.  Eldeco, CHD and ILD Builder has planning for group housing projects in Sectors 2, 34, and 33 respectively.

So, if you are one of the property investors and planning for investment in Gurgaon then Greater Gurgaon is the next big thing for investment after New Gurgaon and Dwarka Expressway. Property prices in this region are affordable now and with the kind of infrastructural developments here—fright corridor and DMIC—investments made here now would yield tremendously returns in the future.

Related posts