The name Sohna Road is heard so often in Gurgaon that one has to wonder what the implications are for its presence. Well in respect what it may imply is that the center of Gurgaon may itself gradually shift away from where it is traditionally held to be today i.e; M.G Road, towards Golf Course Extension Road. This has huge implications for properties in Gurgaon as it would mean that prices along the Golf Course Road would appreciate further and that parts of Gurgaon along Golf Course Road would see a significant appreciation in the value of its real estate.
Some parts of Sohna Road such as Sector 47 have seen a huge appreciation in the price of its real estate. If one were to judge the real estate market in Sohna Road, simply on the basis of the price of property in a few sectors you would be forgiven for thinking that there is in fact a property boom in the locality. For instance, prices of property at sector 47 have appreciated by close to 50% in the last few years, rising from 8000 rupees per square foot to 12000 rupees. This at a time when all the experts insist that there is a slump in property in Gurgaon!
Property in Sector 47 Sohna Road is not inexpensive, as a matter fact it is quite expensive. For example, a 1 BHK 650 square foot flat here could cost you 1.1 crores, some of the other properties here have a price tag which would make you think you were looking for a home on MG Road rather than Sohna Road. New flats in Gurgaon are coming up on Sohna Road left, right and center, a drive down Sohna Road shows construction occurring at a frantic pace, most of these flats are priced in the crores despite being relatively new constructions. For instance, a 3 BHK flat at Sector 47 could cost you more than 2 crores and with an EMI of over 2 lakhs a month, most likely will be purchased by a family both of whose members are working.
Some other properties at Sohna Road are downright extravagant and are priced as such; it’s not uncommon to find apartments on Sohna Road that cost over 5 crores or even 7 crores. The price commanded by such upcoming projects in Gurgaon at Sohna Road does seem to indicate a shift in the epicenter of Gurgaon towards Golf Course Road and Golf Course Extension Road, whether this shift is organic or planned is anyone’s guess and most likely there is no one right answer.
Currently there are only a handful of new projects under construction in Sector 47 on Sohna Road, this may be due to the perceived glut of inventory in the market and developers may be in fact slowing down or stopping entirely some new constructions until they are able to offload significant numbers of old inventory.
Whatever may be the reason, all indicators point to this being a buyers’ market and for someone with enough money to invest this is the right time to go and invest, possibly on Sohna Road, the possibly new MG Road.