In the past one year, the real estate sector underwent several structural changes with the introduction of the Real Estate Regulatory Authority (RERA) bill and Goods and Services Tax (GST). Implementation of RERA led to buyers holding off their investment decisions in anticipation of a price correction across markets. On the other hand, GST was widely speculated to raise the overall cost of properties.
Although the property market has remained subdued in recent times, ‘South of Gurgaon’ (SOGO) is fast emerging as one of the hottest real estate investment destinations in the NCR region. Located strategically just 15 minutes from Golf Course Extension Road in Gurgaon and 30 minutes from New Delhi, it is gaining traction amongst buyers, especially the aspiring class due to its prime location, affordable pricing, ease of access and better connectivity. SOGO has witnessed a slew of construction with multiple real estate majors setting set up or launching new housing projects at affordable rates as compared to the ones in Gurgaon. In addition, its well-planned physical and social infrastructure makes it the hub of economic activity in years to come.
On the infrastructural development front, Sohna is abuzz with better and faster connectivity to Delhi and Faridabad. The proposed 150 meter-wide Gurgaon Extension Road will enable direct connectivity to the existing Golf Course Extension Road from Sectors 63 / 64, Gurgaon, making the travel easier for residents in the area. The region also benefits due to its proximity and good connectivity to airport and prime locations in Gurgaon. As a result, Sohna offers lucrative opportunities for people who have workplaces in Gurgaon and plan to settle down in a location with all the amenities, at an affordable budget range. The varied offerings from developers especially suit the likes of young, working professionals and entrepreneurs who wish to have a connected and work-life balance with all the amenities in a growing residential space.
Sohna has an already well-established social infrastructure with leading hospitals, educational institutions and commercial complexes in the vicinity, which makes life easier for the residents and this is growing further every day. South of Gurgaon is unique when compared to Gurgaon as it is endowed with 24 x 7 water supply, a rain water harvesting mechanism and a wide green cover. This region is situated right at the foothills of Aravalli’s, which falls under protected zones and has presence of several green belts around the areas, which will help the residents to lead a healthier life.
In addition to this, besides residential projects, commercial development is also a demand driver for SOGO with over 12 million sq ft of existing inventory at Sohna Road with key developers and major multinational organizations.
As the region experiences further development in infrastructure, the growth potential is only set to rise more. Investors on the lookout for affordable housing options and long-term investment are on the rise in this area. With the development in infrastructure, the value of investments will further appreciate once various infrastructure projects and industrial estates are completed. This provides the aspiring income group with ample choices to own their dream home, which used to be a distant reality in Gurgaon.