In terms of investments in Commercial Real Estate, Sohna Road has emerged as leading centre in Gurgaon surpassing the realty development in eastern part of the city. A huge number of builders have invested in the area for both residential and commercial development. The area has attracted some of the most renowned builders like Prasavnath, Tulip Infratech and Ansal. According to a report by International Property Consultancy, Colliers, “commercial office space leasing increased on Sohna Road by 15% in the first quarter of 2017.” Further adding, the demand has fallen in MG Road and Cyber City, owing to high rents and limited choices available. The demand may reduce further due to an expiration of ease in coming years and thus companies opting for alternative office spaces at Sohna Road. The increased inclination towards the area is probably due to the availability of cost-effective workspaces.
The Gurgaon Master Plan 2025 has opened up new investment opportunities for the real estate developers thus increasing the competition in the area. Another reason why the area has come up as a commercial hub is the various location advantages it has. Indira Gandhi International (Terminal 3) airport lies within the distance of 20 km while the area is only 7.5 km away from Huda City Centre. Additionally, it lies close to Delhi-Jaipur Highway (NH-8) and Gurgaon-Dwarka Expressway, making it easily accessible from most of the parts of the city. The Sohna Road is located at proximity to Netaji Subhash Marg and Gold Course Extension Road. Also, it is connected to the new Gurgaon via Southern and Northern Peripheral Road.
“The location advantage of Badshapur area, that is located near NH 8, 20 kmts from Indira Gandhi International Airport, close proximity to National Capital (Delhi), etc have made the area the new boom Gurgaon.” – Praveen Jain, CMD, Tulip Group
Promoting walk to work concept, there are several residential projects coming up in the area. Thus many employees and the employers find suitable residential locations nearby making is popular locations to work at. For the further development of residential areas in the area, State Bank of India has reduced the home loan rates to trigger a boom in the sector. Not only does the area has ample residential options nearby but also top-listed schools and health care centres like GD Goenka Public School, Ryan International, Vegas International School, Medanta Hospital, Samvit Hospital and Sanjeevani Hospital. Also, the area has come up with local markets and small shopping complexes.
Investors have shown interest in this particular area in last few months and realty watchers have assessed the rate of appreciation on this stretch to be nearly 18-20% in coming future. “The main reason for rocketing demand and consequently the prices of property on Gurgaon Sohna Road is the availability of land parcels for residential and commercial development. Other significant factors are proximity to the airport, colleges, institutions, hospitality and infrastructure projects under construction.