Sohna Master Plan
The Haryana government has notified the Gurgaon-Sohna Master Plan, 2031, which is expected to streamline and regulate the burgeoning real estate market of Gurgaon. With the approval of this new master plan several residential, commercial and industrial projects are expected to be launched here in the near future. More than 20 new sectors have been notified in the new master plan.
After the approval of new master plan, developers and promoters have started acquiring land banks in the area and those with SEZs (special economic zones) are mulling land-use change after the notification.
Experts believe that the Gurgaon-Sohna realty market will be an independent market and that it will not be affected by price movements and absorption of projects located along Dwarka-Gurgaon Expressway or Golf Course Extension Road. For example, group-housing projects on Golf Course Extension Road are priced over Rs 10,000-12,500 per sq ft but the rates on Gurgaon-Sohna Road are still around 4,500-6,500 per sq ft.
The Sohna market is expected to cater to the affordable segment in residential properties; the townships with group-housing and plotted developments are likely to be available in the price band of Rs 3,500-4,000 sq ft.
This area has great connectivity and prospects with the proposed 1,483km-long DMIC, new Metro linkages, and the forthcoming KMP bypass coming up in the vicinity. Also the place is in close proximity to the main city which is a leisure hub, a leather hub, a sports hub. Other facilities close to the developing sectors of the Sohna master plan include Westin Sohna Resort, GD Goenka World School, KR Mangalam University, and Ascendas’s IT & ITeS project. MMTCPAMP SA gold and silver refining is located at the Roj Ka Meo industrial estate near Sohna.
Top developers like Raheja Developers, Gold Souk, IREO, Central Park, Tata Reality, Godrej, MVL, Universal, ILD, Avlon, Parsvnath, Paras and Homestead are planning to launch new projects here.
Raheja Developers has launched Raheja Aranya City in Sectors 11 and 14; these is a plotted-development project. Raheja Aranya City is an integrated township close to IMT Sohna, where a 1,700-acre industrial estate is planned by the Haryana government.
Navin Raheja, the CMD of Raheja Developers, says: “The new sectors of Sohna will definitely enhance the prospects of Aranya City as a residential and retail destination for the thousands of people who will get jobs there. The value of the investments is likely to multiply appreciably once this industrial estate is up and running. With the sanction of the new sectors, real estate activity as a whole will see heightened activity.”
Gold Souk, another realty player in the area, is planning to launch Gold Souk Golf Links, a premium highrise project that offers units of 1,250-2,350 sq ft at Rs 5,000 per sq ft. Ashish Gupta, the MD of Gold Souk, says: “Our forthcoming projects are located on the proposed 150-metre Gurgaon Extension Road and along the two sides of the 60-metre roads of Sectors 17 and 25.”