Badshahpur-Sohna elevated road will firm up market

Created on 31.03.2019 18:09:02
Badshahpur-Sohna elevated road will firm up market

The completion of the Badshahpur-Sohna elevated road section will not just ease the commute in the region, but also help residential and commercial markets grow

Several expressways built in and around the Delhi NCR have helped decongest the central parts and ease traffic for daily commuters and expressway passengers. Among the key corridors and stretches, the 21.6km Sohna Road holds significance, as it connects to the traffic-heavy Southern Peripheral Road (SPR). The road connects the main city of Gurugram with Sohna.

The NHAI is upgrading Sohna Road in two parts: While the first part comprises an elevated road from Subhash Chowk to a light ahead of Badshahpur, the second part involves expanding the road from Badshahpur to Sohna, by way of constructing a series of underpasses and flyovers.

Connectivity advantage, but concerns remain… All along these stretches and in the neighbourhood, residential and commercial projects have mushroomed and are catering to scores of end users.

The region’s proximity to some of the key offices and entertainment zones makes it important. The road is nearly 28km from the IGI airport, 17km from the Gurugram railway station, and 12km from NH-248A (SPR). It is linked to NH-8 and Rajiv Chowk. Any delay in the completion of the road may affect the overall real estate market in the region.

While work on the first part has been delayed, the government has recently removed encroachments along the road leading up to the Badshahpur village.

THE MARKET

Average prices of houses along Sohna Road and in the region are between Rs 7,309 per sq ft and Rs 8,000 per sq ft. On offer are units ranging from 1- to 4BHKs, ranging in size from 350 sq ft to 3,000 sq ft. Compared to this, the average residential property prices in Sohna range between Rs 4,000 per sq ft and Rs 4,300 per sq ft.

Prices along Sohna Road have largely remained stagnant over the last one year. Hence, the creation of the Badshahpur elevated road is crucial. “Its completion is likely to add value to the overall infrastructure of the region. Sectors like 38, 39, 46, 47, 48, 49, Sohna, and parts of Golf Course Extension Road will continue to register good sales,” Pradeep Mishra, a NCR-based real estate consultant, said.

“A peripheral residential market of Gurugram, Sohna has seen tough days. Even Sohna Road was affected. However, lower rates and good floor plans by firms have made projects saleable in the region,” a Gurugram-based consultant, Sushrut Gupta, said.

Industry experts agree. “Sohna’s real estate market is led by affordable and mid-segment housing. With massive demand from end users in the low- and midincome groups, Sohna has attracted several developers including Ashiana Housing, Raheja, ILD, Ireo, Supertech, and Tata Housing,” Prashant Thakur, head (research) at ANAROCK Property Consultants, said.

WHAT LIES AHEAD?

ANAROCK data shows that most of the projects are under construction. In the next two years, a large portion of these units is likely to be delivered. Thus, there is likely to be a rise in rental and capital values. There will be demand for ready-to-move-in properties. The completion of the entire road will also give stability to the commercial market.

 

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