Good demand for affordable projects

One positive sign about this location is that it has a Master Plan 2031 document, which shows the intent to have holistic development and a sustainable ecosystem. Currently, many residential projects, largely in the form of integrated townships which offer multiple residential accommodation formats, have been launched here by prominent developers. In addition, under the Haryana Affordable Housing Policy, many affordable housing projects have also been launched and work seems to be progressing at a good pace on them.
 
For creating a truly habitable environment, connectivity and economic drivers are equally essential to complement the creation of physical real estate. While the current connectivity is already good via Sohna Road from Gurgaon, currently a flyover is being created at Badshahpur to achieve seamless travel between the two towns of Sohna and Gurgaon.

 
In addition, infrastructure initiatives like road connectivity through Golf Course Extension Road, the under-construction clover-leaf junctions here as part of the much-delayed KMP Expressway are likely to further increase the attractiveness of this region, which right now seems located a little far from the main development hotspot of Gurgaon. The onward connection to Alwar has also been designated as a National Highway which is expected to further increase the importance of this region due to its accessibility and strategic location.
 

The major points of attraction currently are multiple residential options at half to one-third the prices prevailing in the major residential corridors of Gurgaon, and a considerable cost advantage over upcoming residential hubs in New Gurgaon.

 
Future economic activity is likely to emerge in the form of plans for a 1,500 acres Integrated Model Township, the Orbital Rail Corridor along the KMP Expressway, and the Dedicated Freight Corridor between Mumbai and Delhi which is also aligned to pass through one end of Sohna. Multiple theme parks and hubs are planned for this region. The entire 6,110 hectares of land proposed to be developed under the master plan has been clearly demarcated as per usage: 28 per cent dedicated for residential use, 20 per cent for industrial, and a massive 1,040 hectares dedicated to providing a green lung to this region. While the region has its share of buyers and investors, currently most of the infrastructure developments are futuristic and under planning.  Affordable housing projects in this region are seeing good demand, with prices ranging from Rs 3,000-4,400/sq ft.

The author is Associate Director–Research & Real Estate intelligence Service, JLL India