With HSIIDC announcing plans to set up a model industrial township in Roz Ka Meo,real estate and industry sources see the region as the next industrial hub.
Gurgaon's Sohna Road is set to emerge as the next axis of industrial and commercial development like Manesar.The Haryana State Industrial & Infrastructure Development Agency (HSIIDC) has acquired about 1,700 acres of land in Roz Ka Meo,nearly 26km from Gurgaon,to establish a new industrial township on the lines of IMT Manesar.
Since the establishment of industrial model township in Manesar,the whole stretch leading from Gurgaon to Manesar has seen a rise in industrial and commercial growth.Manesar is now home to some of the biggest names in the industry and employs more than one 1 lakh people.With HSIIDC announcing plans to set up a model industrial township in Roz Ka Meo,real estate and industry sources see the region as the next industrial hub.
The reason for the rocketing demand and the consequent prices of property on the Gurgaon-Sohna Road is quite easy to comprehend.The availability of land parcels for residential and commercial development is one of the main factors driving development in this location.Other significant factors are the proximity to the international airport,and educational,hospitality and infrastructure developments under construction.Commercial space on Gurgaon-Sohna Road also commands fabulous price.Office space goes for about Rs 5,500 per sq ft,while mall space goes for Rs 6,500 psf.It goes up to Rs 8,000 psf with location and preferences like floor plan,floor size,or the inside area of the building.
Sohna road enjoys a niche and premium positioning in the consumers mind.In the coming years,the place is going to witness a capital appreciation of around 15% to 20% depending on individual projects and locations.After a boom in the residential development on the Gurgaon-Sohna Road,the area is set to emerge as the next axis of industrial and commercial development like MG Road.
Omaxe Group has three operational malls on the Sohna Road,for which it received overwhelming response from investors and retailers.Recently,Bharti "Easyday"has opened an anchor store in one of these malls,indicating that even retail giants are exploring the potential in this area.People flock to these malls for superlative shopping needs and other service outlets while these malls frequently release many attractive promotions,freebies and lucrative offerings to attract shoppers.
Rakesh Yadav,the managing director of Antriksh Group,says: "After the slowdown,commercial real estate prices were corrected throughout the NCR.The rents have found support at current level and we are expecting commercial space prices to appreciate up to 25-30 %,owing to national and international retail giants branching out on Sohna Road.We are also launching residential and commercial segments,in Gurgaon Extension on Sohna Road.Hence,the prevailing rents provide a suitable opportunity for retailers to execute their expansion plans in the region."
Orris Infrastructure Pvt Ltd has launched a residential project,Aster Court Phase II,in Sector 85,Gurgaon Extension,which will offer world-class facilities to the residents.Vijay Gupta,the chairman and managing director of Orris Infrastructure,says: "Designed by internationally renowned architect,Nelson of the US,Aster Court is spread over 29 acres and is well connected to the Dwarka Expressway,the IGI Airport,ISBT and the proposed Metro station.Aster Court will open bookings for twoand three-bedroom apartments and the area of these units will range from 1,250 sq ft to 2,150 sq ft and their starting price is Rs 2,750 per sq ft.Other options which are still available are 3+1 BHK,4BHK,and 4+1 BHK,from a total 1150 units."
Orris Infrastructure has also launched Business Square,in Sector 82A,Gurgaon.The project is a premium New Age commercial complex having office spaces and hotels.Business Square is built over 9.5 acres,with a 5-star hotel being built on 2 lakh sq ft.The project also has office spaces for upscale multinational firms,budget hotels and a convention centre spread over 6.8 lakh sq ft.The price of the plots is approximately Rs 6,500 per sq ft.
The new projects under construction allow homeowners to create their own living scenarios,to be set according to their own preferences: cinema ambience or an evening with friends,subdued lighting with automatic closing of curtains and adjustment of the thermostat.The system becomes the home's brain,allowing a user to create various living scenarios by controlling the lighting,the airconditioning,the television and all the other electronic utility items by a simple press of a button.
Listening to your favourite FM station,downloading music and other files through an IP gateway has never been easier.Add to that the possibility of controlling all these remotely through a WAP-enabled mobile or your laptop! Developers like M3M,Omaxe,Raheja Group,Earth Infrastructure,Innovative,etc,will advise their home buyers on how they may customize their automation.
Old Gurgaon is saturated and even NH-8 offers no scope for development.After NH-8,the only availability of raw land for expansion of Gurgaon is Sohna Road.The Gurgaon-Sohna Road is proposed to be widened to six lanes with good connectivity to NH-8 and this has made the area the next residential destination
A key driver of demand is the employment generated in Gurgaon.There is a large influx of well-paid professionals into Gurgaon every year,which translates into strong demand for housing in peripheral areas.Clearly,the walkto-work concept is in
Demand also comes from people who want a second home,either for spending their weekends,or for renting out
NRIs also account for a large portion of demand
In several high-end complexes,corporates have bought apartments in bulk to house their senior executives
Its biggest strength lies in the massive employment opportunity available within a 10-15 km radius
Product specifications of newer projects are better than the older developments in Gurgaon
Retail giants on Sohna Road
Bharti Easy Day,SRS Value Bazaar,SRS Multiplex
New retailers on Sohna Road
Spencer,Aditya Birla's More,Big bazaar
Major Real estate developers on Sohna Road
Omaxe,Oriss,Antriksh,Unitech,JMD,Vipul,Raheja,Emaar,Ansal API,Jaipuria
Residential Plots
Rs 45,000-50,000 per sq yard Rs 60,000-65,000 per sq yard
Residential G/H
Rs 4,800-5,000 per sq feet Rs 5,000-5,500 per sq feet
Commercial Projects
Rs 8,000 per sq feet Rs 9,000 per sq feet
Lease Rental
Rs 50-55 per sq feet Rs 60-70 per sq feet
Office Space (IT Park)
Rs 35-40 per sq feet Rs 35-40 per sq feet .
Realty scenario at Gurgaon-Sohna Road .
A 20-minute drive from Dhaula Kuan along National Highway 8 .
Airport is only a few kilometres away.
Gurgaons leading commercial hubs,like DLF Phase II and III,are barely 10-12 km away.
Golf Course Road,another developing commercial hub,is 5km away.
Manesar,a major industrial township with 260 large industrial units and 8,000 small units,is 15km away.The area demarcated for Special Economic Zones (SEZs) in the master plan is 9-10 km away.
Metro line to come up between Manesar and Gurgaon-Sohna Road.
