SOHNA MASTER PLAN Corridor Description and Rating Areas Included: All Sectors Under Sohna Master Plan-2031

Corridor of growth SOHNA MASTER PLAN Corridor Description and Rating Areas Included: All sectors under Sohna Master Plan-2031

Fig 1: Map of the corridor 02 Corridor of growth (COG)

About the Corridor Introduction HSIIDC will be developing a 1,500 acre Development in all these projects is in Industrial Model Township (IMT) spread the initial stages and the hand-over for South of Gurgaon refers to the area across six sectors (Sectors 19, 19A, 20, group housing projects is expected in which falls under the Development 20A, 21 and 21A) of the corridor which 2019-2020. Residential plots are likely Plan-2031 of Sohna town. The Master borders the KMP Expressway. This also to be handed over in the next 1.5-2 Plan area starts approximately at a includes a dedicated area for mega years. distance of about 14 km from the Leather Manufacturing Park. HSIIDC has intersection of Golf Course Extension The base selling price for apartments already acquired 607 acre land for this Road/Southern Peripheral Road and and builder floors varies as per the IMT. Sohna Road. The corridor is in the initial payment plan, extent of furnishings stages of development with some The existing Gurgaon-Sohna-Alwar provided and location of the project. developers having launched large and Road which connects the corridor The price range in the corridor is Rs small residential projects here. to Gurgaon is to be widened into 3,500-6,300 per sq ft. Units of higher a 60-meter road with a 50-meter prices come with extensive furnishing Master Plan green-belt on each side. Dividing and capital goods. The land use plan under the roads of the sector are planned with a Growth Potential Development Plan-2031 is spread minimum width of 60-meter under the across approximately 14,000 acre. The development plan. The corridor derives its growth corridor is divided into 36 sectors of potential from its position with respect Present Status which 18 are dedicated for residential to the southern part of Gurgaon. After development. The land use plan divides As per the latest update from the the development potential is exhausted the corridor into two sections - the Department of Town & Country in sectors along and off the Golf Course northern two third portion towards Planning (DTCP) of the Haryana Extension Road in Gurgaon (Sectors Gurgaon consists mainly of residential Government, total 38 development 58 to 67A), there is no area for further sectors while the remaining one licenses have been given to various development in this direction. third towards south, close to the KMP developers. These licenses cover In terms of price, the corridor compares Expressway, is dedicated for industrial development permission for 804 favourably with the price levels along development. acre land area covering mainly the Golf Course Extension and Sohna the residential (98.5%) segment. In terms of land area, these residential Road. It is also in tandem with sectors The balance area is for commercial sectors amount to about 30% or about (Sectors 68 to 73) along and off the development. 4,300 acre of the total land use area under-construction stretch of the under the Development Plan-2031. Licenses issued under the residential Southern Peripheral Road (SPR). segment cover residential group The second highest category of land The average price level (Rs 8,200 per housing, residential plots, projects use is for industrial development sq ft) in the Golf Course Extension is under Affordable Housing Policy (AHP) with a share of 22.07% of the land almost 50% more than the average of the Haryana Government and one use or about 3,100 acre. The corridor price in the corridor (Rs 4,229 per sq ft). large 100-acre plus township. already has an industrial cluster and Price levels in Sohna Road are about more area has been earmarked for Currently, some developers have 30% more than in South Gurgaon. industrial use under the Development launched projects in the corridor. These The corridor offers good options for Plan-2031. This has been done to cater are located mainly in sectors towards those who cannot afford a house in the to the requirements for industrial & the north and which are along the established areas of the city. warehousing space which is likely to existing Gurgaon-Sohna Road. A couple Another advantage the corridor has arise as the KMP Expressway passes of projects have been launched in the is that there is existing connectivity very close to the corridor while the DFC residential sectors which are towards with Gurgaon through the Gurgaon- of Indian Railways passes through it. the industrial half of the corridor. Sohna-Alwar Road. Unlike the 03 Corridor of growth (COG)

Dwarka Expressway, projects in the a buffer of 1 year to this timeline. The Gurgaon or close to Gurgaon for their residential sectors along this road are development of infrastructure in the requirements. not dependent on development of the corridor like sector roads connecting As with the overall market conditions, access road. internal sectors with each other and price levels in the corridor have been existing Gurgaon-Sohna Road, water Further, an alternate 90-meter link stagnant for some time. Between Sep and sewerage network etc by HUDA is road is proposed which will connect 2013 and Mar 2016, the average price also likely to take this much time. the corridor to Gurgaon. This road will levels declined by 5%. Price levels are originate from Sector 34 of the Sohna The area lacks in public transport expected to remain stable in the short Development Plan-2031 and connect facility. Present connectivity is through to medium term. with Gurgaon at the sector dividing state transport/private buses from Outlook road of Sectors 63A and 64. Gurgaon to Sohna or long route buses which pass through Sohna. Shared South Gurgaon offers residential The planned industrial development autos also ply between Gurgaon and options for those who intend to work in in the corridor will serve as a growth Sohna. Consumers will have to mainly Gurgaon but cannot afford to purchase driver and a pull factor as it creates blue rely on private transport till more a house due to high overall capital and white collar jobs. dedicated public transport facilities are value in the city. While the distance Challenges made available. between Gurgaon and the corridor may seem large today, it is large only Consumers need to consider a The Master Plan has provisions for in a relative sense. Once the southern development timeframe of 3-5 years support amenities like hospitals, sectors of Gurgaon are developed and before the corridor evolves into an schools and colleges but no clear the corridor sees some development, established residential destination. development timelines can be this perception will most likely fade The delivery timeline for apartments predicted for them. Residents will have away. is a minimum 3 years; it is safe to add to rely on the social infrastructure of

Overall Connectivity Social Infrastructure Security/Water

Properties available in the corridor ohna Master Plan Area presently offers highest share is of Rs 60-80 lakh bracket with Gurgaon, this corridor has more 2BHK options properties across Rs 20 lakh to Rs 2.5 crore about 25%. A healthy percentage of properties than 3BHK units. The smaller size of the 2BHK Sprice bracket. However, majority of the are also available in the Rs 20-40 lakh bracket. format helps to keep the overall acquisition supply is concentrated in the Rs 40-60 lakh The main reason for properties being available cost low for buyers. Options of 3BHK are also budget segment with 45% share. The second in the lower budget segment is that unlike available in the Rs 40-60 lakh segment as

Fig 2: Distribution of properties by price Fig 3: Distribution of properties by delivery status Fig 4: Distribution of properties by bedroom configuration 04 Corridor of growth (COG)

Table 1: Sizes and prices of flats available for these are available in different sizes. Smaller 1BHK are available in the Rs 20-40 lakh budget various room configurations sized units are in the lower budget segments. segment. Sales Price Covered Area About 52% supply of 3BHK options is in the The corridor also has projects under the ( Lacs) (Sq.ft) Rs 60 lakh to Rs 1 crore segment. A small Affordable Housing Policy of Haryana 1 BHK 13-30 520-700 percentage of supply is also available in the Government. This policy makes smaller sized 1BHK format. This is a departure from the 2 BHK 20-60 920-1300 2 and 3BHK units with corresponding low general practice in Gurgaon where smaller 3 BHK 50-90 1400-1900 price (fixed by state government) available to format units are not available. Options of 4 and above 75-150 2100-2500 consumers.

Best bedroom configurations to buy Preferred buying and renting options

Table 2: Demand distribution for buying and renting onsumers prefer the 2BHK format in Bulk (55%) of the demand is in the Rs 60-80 Buying Renting the corridor. About 58% consumers are lakh segment. These 3BHK units are of bigger Total (BHKs) Total (BHKs) Clooking for 2BHK format in the Rs 20-40 sizes and hence, higher cost. The Rs 40-60 lakh 1 BHK 4% 29% lakh bracket followed by 31% demand in the range also has a healthy 32% share of demand 2 BHK 58% 43% Rs 40-60 lakh budget segment. The 3BHK for 3BHK units. These are of relatively smaller is the second most preferred format with size with about 15% less saleable area as 3 BHK 33% 28% demand across different budget segments, compared to the 3BHK units preferred in the 4 and Above 5% 0% depending upon preferred size of the unit. higher budget segments. Price changes and future prospects Historic Price movement Table 3: Historical Price changes

6 monthly change Yearly change -1% 1% he price level in Sohna has been flat for last couple of years. Sohna has been Tprojected as extension of Gurgaon and is being marketed as ‘South Gurgaon’. It was expected that lower price level in Sohna and its proximity to Gurgaon will drive sales. However, there is still some perception issue amongst buyers about its location. Also, the development in the projects is in very early stages. After witnessing project delays all around, consumers are wary about buying in under-construction projects and in areas where infrastructure development is still far away in future. The price level has consequently stayed at almost same level as few years back.

Fig 7: Historical Price changes of corridor 05 Corridor of growth (COG)

Master Plan

Fig 9: Land use of various sectors in the corridor

RESIDENTIAL COMMERCIAL PUBLIC AND SEMI-PUBLIC INDUSTRIAL OPEN SPACES

lmost 14,000 acre land has been in sectors under the Master Plan. More than The total area envisaged for IMT Sohna is earmarked for different uses in the 98% of these licenses are for residential about 1500 acre. Alignment of the Dedicated AMaster Plan. Of this, about 30% is development. Haryana State Industrial Freight Corridor (DFC) passes through the reserved for residential development. Till Infrastructure Development Corporation Master Plan area of the corridor. A Transport December 2015, the Haryana Government (HSIIDC) has acquired more than 600 acre Nagar adjacent to it in Sector 27 has also been had granted 38 licenses to various developers land for development of an Industrial Model planned. It will be spread over 244 acre. for residential and commercial development Township (IMT) in some sectors of Sohna.

Infrastructure Updates KMP Expressway :The Kundli-Manesar- The Manesar to Palwal section of the KMP the Haryana Affordable Housing Policy (AHP) Palwal (KMP) Expressway passes through the Expressway has become operational in the corridor. These projects will provide southern side of the town. The proposed access affordable options to consumers. Affordable Housing Policy:Nine point of KMP Expressway from Sohna Town is development licenses have been issued under situated approximately at a distance of 8-km. 06 Corridor of growth (COG)

IN NEWS South Gurgaon: A great realty destination choice incorporating GBCI in India, the company will be able to continue their efforts to green the built environment in India and across the globe, South of Gurgaon has a healthy realty market. With the development with new added support and on the ground capabilities. Leveraging of new realty projects, the population of Greater Gurgaon is expected the work done by Gopalkrishnan, USGBC’s regional director for market to grow by nearly 10 times, by 2031. Considering these developments, development in India, GBCI India will act as the South East Asia office it is the best time to enter this market. As per development plan, of GBCI. Greater Gurgaon’s realty market will be an independent market unaffected by price movements and absorption of projects located n Source: Magicbricks Bureau along Dwarka-Gurgaon Expressway or Golf Course Extension Road. Gurgaon is growing and so are its challenges The Greater Gurgaon market will cater to the affordable segment. A proof of this lies in the high number of transactions taking place in What is it like to have a home in Gurgaon? Widely believed, the kind of this area. feel Gurgaon lends is unparalleled. Be it job opportunities, shopping malls in the vicinity or a cosmopolitan neighbourhood Gurgaon is n Source: The Times of India unbeatable. On one hand is the ever-increasing floating population. 11 builders to develop ‘South of Gurgaon’ On the other hand is the challenge of accommodating any plans of developing infrastructure in an already occupied area. Authorities Builders are making joint efforts to develop Sohna as an upcoming have realized that by the time a two-lane road gets sanctioned and destination, called `South of Gurgaon’. Delay in the development of work begins, the need arises for a four lane road in the same spot. infrastructure in areas like Dwarka Expressway and New Gurgaon With the kind of foresightedness that the corporation needs to work has affected buyers and builders alike. On Dwarka Expressway, for with, certain plans that came to the fore were indeed futuristic. instance, some projects are complete but possession cannot be given as the basic infrastructure -like main road, sector roads, and sewer n Source: Magicbricks Bureau lines ¬ is not in place. Licenses have already been given to build Raheja’s Maheshwara to redefine Gurgaon market around 65,000 houses on 700 acres of land. The number of houses that can be built per acre using the same permitted area is higher in Raheja Developers Ltd announced the launch of “Maheshwara” in South of Gurgaon as against that in Gurgaon. This will enable them South Gurgaon. The project will redefine the real estate market build smaller houses. owing to the affordable prices while all the luxury accompaniments of Raheja projects are kept intact. A 2-BHK apartment (1080sq.ft.) starts n Source: The Times of India at an all inclusive price of Rs 34.63 lakh @2975 per sq.ft on super area GBCI establishes South East Asia base in Gurgaon which is almost 20 % lower than the prevailing market price with a guarantee of quality. There are no extra charges for PLC, parking Green Business Certification Inc. (GBCI), the premier organization reservation charges & club membership. There is a guarantee of no independently recognizing excellence in green business industry charge in case the super area increases in future. performance and practice globally, announced its incorporation in India. The new GBCI office, located in Gurgaon, will serve to facilitate n Source: Magicbricks Bureau the global growth of GBCI and its sustainability programs. By MOST POPULAR PROJECT in South Gurgaon http://magicbricks.com/investment-hotspots/gurgaon/south-gurgaon/

KEY DEVELOPERS in South Gurgaon http://magicbricks.com/investment-hotspots/gurgaon/south-gurgaon/

PROJECT SUMMARY BY POSSESSION STATUS in South Gurgaon http://magicbricks.com/investment-hotspots/gurgaon/south-gurgaon/

PROJECT SUMMARY BY BUDGET in South Gurgaon http://magicbricks.com/investment-hotspots/gurgaon/south-gurgaon/

D I S C L A I M E R

Every effort has been made to make this report as complete and accurate as possible. MagicBricks accepts no responsibility for inaccuracies in the information/data contained in this report. It shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to have been caused, directly or indirectly, by the information contained in this report. The information/data in this report is subject to change from time to time due to market condition.