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

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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.
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