South of Gurgaon

The informal grouping of I I leading real estate developers to work towards infrastructure development in the southem end of Gurgaon and hardsell it to home-seekers in the National Capital Region is a positive development from all angles. While the region, replete with many advantages, will ascend further on popularity charts and buyers’ options will widen, the involved players can look forward to a fresh revival in the sector. Overall, a win-win proposition during slowdown scenario in the real estate industry!

Realty & More contacted some prominent members of the new-found ‘consortium’ to seek their response to this major development. Apart from being uniform in their excitement over the move, they all had fresh perspectives to share regarding Sohna region, or the newly-christened ‘South of Gurgaon’.

Summarising the campaign, Salman Akbar, Director of realty group ILD, said, “This initiative is being undertaken by 11 Credai members with projects in the Sohna-Master Plan 2031.” The Master Plan, he said, was notified late 2012 and this destination is witnessing most launches now.

“One big point of difference is that the planning regulations allow for a higher density that allows us to design for smaller apartments. Usually, Gurgaon would have 30 per cent- 2 BHK (1300 sqft) and majority of the inventory of 3 BHK (1,800 sqft) and the smaller units had a great demand. The trend here reverses with developers having an option of designing all 2 BHKs,” he said.

Secondly, he said, compared to locations on Dwarka Expressway or New Gurgaon, all the sites here have greater existing connectivity to existing infrastructure such as schools, colleges, offices plus the travel time to essential locations in Gurgaon would always be lower.

Akbar admitted that there are a few infrastructure challenges such as the Badshahpur traffic, However, he said, “Sohna Road had been declared a national highway (NH 248A). NHAI shall be constructing a flyover at Badshahpur town which might take four-five years but would definitely ease the traffic.”

“It will result in a collaborative approach to development, which NCR unfortunately lacks… it shall help streamline the entire development and give necessary boost to infrastructure.”ANKIT KANSAL, MD and Co-Founder, 360realtors

A joint promotion by leading developers in any part of NCR can only mean good news, according to Ankit Kansal, MD and Co-Founder, 360realtors, since “it will result in a collaborative approach to development, which NCR unfortunately lacks.” Kansal said all builders have acquired land and permissions from the Haryana Government and if they come together as a consortium, flit shall help streamline the entire development and give necessary boost to infrastructure.” He said the developers can jointly approach the administrative bodies into delivering promised utilities such as flyovers and transport corridors. “The joint advertising and marketing will only help to gain confidence of a wavering buyer or investor,” he said.

In Kansal’s opinion, Sohna, by virtue of its location, has all elements of being a soughtafter destination. “Firstly, it has green and protected Aravallis and Damdama Lake, which will ensure that natural settings are here to stay. Then the proposal to make a new road link via Sector 63 from Gurgaon to Sohna will reduce the travel from 20 km to 10 km. A flyover over Badshahpur, Metro extension and NH status to the connecting roads will further boost the area”, he elaborated.

Additionally, Kansal said, the policy of TDR (Transferable Development Right) enables small land owners to willingly participate in all stages of the real estate development of which their land can be a parcel and help to make money quickly. “This will push faster infra completion, especially developers can help bridge the gap between the landowners and Government agencies and mediate for smoother cooperation, he added.

Also, he said since the prices of properties in Sohna are much more affordable than the escalated ones in Gurgaon, the boost of infra will help energise the real estate of the area. “This revival may kickstart a correction in other areas of NCR or in any case, may change investor sentiment,” he said. Concluding on an upbeat note, the 360realtors MD said, “The joint approach of top builders will help to create an atmosphere of unified trust amongst the customers which is a positive move.  This is thus a win-win situation, and should lead to increased sales in the region.

Source : realtynmore