Sohna road running parallel to MG road and Golf Course road may literally follow a similar pattern of development as the latter two, market insiders tell NAMRATA KOHLI
It started with MG road where commercial real estate was the prime driver of values - malls drove the real estate prices substantially and then came offices, which put values in the overdrive and residential development like "Beverly Park" always sold at a premium because the area was already driven by commercial real estate values. On similar lines, Sohna road seems to be already buzzing with activity with malls, offices and residential projects flocking there.
Developers like Unitech (Uniworld Garden 1, 2 and residences), Bestech (two projects, PV1 & 2), Vatika, Parsvnath (Greenville), Uppals, and Vipul are already here. The only top builder missing from here is DLF. The projects about to start or under construction include The Residences, Uniworld Garden 2, Sunbreeze, Vistas, Exquisite in Nirvana Country 2, Villas in Nirvana Country 2 - all by Unitech. Others include Central Park II, Tulip, Spire South, among others.
Vipul's Tatvam villas in Sector 48 on main Sohna road are all about premium bungalows in a gated community. These bungalows come in three sizes of 287, 500 and 956 sq yard. Each bungalow is air-conditioned, has a private swimming pool (central vacuum filtration plant with swimming pool) and has bathrooms with Jacuzzi and sauna.
These bungalows cost between Rs 2.65 crore and Rs 7.25 crore. Central Park 2, a Brainchild of Bakshi, from Gesco who created Central Park 1, is poised to be plusher and better than Central Park 1. This has 2-5BHK apartments with unit capital value of Rs 6,750/sq ft. It is a huge project with Belgravia,
Belaire and Belivue
CHD Developers Ltd has a project much ahead on Sohna road, "Avenue 71". Launched on April 15, 2010, it will be ready for possession by the end of 2013. It has 2-, 3-, 4BHK apartments starting from Rs 40 lakh. According to Ravi Saund, head of business development of CHD Developers: "There has been an appreciation of 20% since the launch of this project. We have planned theme gardens, reflexology-park, fancy gazebo, crystal clear ponds and streams. It is carefully designed keeping the idea of water and electricity conservation in mind. A swimming pool, landscaped greens, a contemporary club, shopping arcade, gym, kid's play area, tennis court, nursery school, health care, dedicated car parking, three-tier security are other features." They are planning two premium residential projects in Gurgaon.
For those staying in rented accommodation, good quality three-bedroom accommodation on Sohna road is available for Rs 20,000 to Rs 25,000.
According to Sameer Maheshwari, NRI, who is currently staying with his family in a rented flat at Nirvana Country on the Sohna road: "I really like the community feel - families hang out with kids in the common garden/play area. There is good quality construction and maintenance. The apartment complex is self-sufficient and all the amenities are available within the apartment - you can order groceries, household supplies via phone for home delivery. The full power backup is quite helpful. Even household helps are easily, arranged through the complex's security. It is self-sufficient in terms of household requirements, shopping, educational and medical infrastructure." He adds that the residents are largely working professionals, NRIs or well educated - pretty decent in general. "On the flipside, general practitioners are not in proximity, and one has to drive all the way to Gurgaon. Public transportation is not available. Besides, the construction activity everywhere is a turnoff - at present at least."
Commercial activities are on in full swing here. According to Shekhar Midha from Valuez: "The prevailing office value at Sohna road is 60-70 Rs/sq ft/month as against double the amount on Golf Course road. The NDTV office just shifted here."
New offices will be opening in next one-two years and most of them are ready. There are only a few exclusive buildings like the one by Unitech. The commercial developments include JMD Galleria, Raheja's R Mall, ILD TRade Tower, Ninex Mall, Omaxe wedding mall. According to Neeraj Gakhar of Basera properties, "The capital values in the mall on ground floor are between Rs 12,000/sq ft and Rs 13,000/sq ft."
According to Rajeev Kumar, a Gurgaon based property broker: "The only issue is the existing village that starts after about 500 metres from NH 8 and extends for another 200 meters along the road. It is opposite the first few blocks of JMD garden. There have been several debates whether the village will go or not. Maybe it does, maybe it doesn't, but development will happen all around as has happened on MG Road. The location of Sohna road has the same advantages that MG road had. There are now two proposed Metro lines touching the Sohna Road. One of them crosses at Parsvnath Green Ville and the second is the proposed extension of airport express line coming from Dhaula Kuan till Rajiv chowk."
While Sohna road scores high on proximity to NH 8, a proposed Metro, relatively lower prices, and may become the future centre of Gurgaon (as per Master Plan 2021), on the flip side, the government is too slow in implementing development. Also the presence of too many villages nearby dampens the profile of this road as not many top builders are present here.
Courtesy by : Times PropertyDtd : August 21, 2010
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