SOHNA - INVESTMENT DESTINATION

The emerging town Sohna, which was once considered as a remote area, is now one of the hottest destinations for investment in the NCR.

Sohna Road which connects Gurgaon & Sohna once a bumpy, two lane road has now been replaced by a busy, six-lane highway. The housing and commercial developments along Sohna Road have now reached Sohna town and the area has seen a sharp rise in property prices.

Sohna is a town and a municipal committee in Gurgaon district in Haryana. Located 24km from Gurgaon on the highway from Gurgaon to Alwar, the town is famous for its hot springs and ancient Shiva temple. Some of the institutes of repute here are G D Goenka University and K R Mangalam International University.

Prospects for investment While Manesar is a major hub after Gurgaon, surrounding towns like Sohna and Bhiwadi have also started attracting investments in a big way.

Sohna has great connectivity to Dharuhera, and onwards to Rewari, on NH-8, by Tauru road to Gurgaon, by Sohna Road to Palwal via KMP Expressway--and directly to Faridabad as well.

The biggest USP of Greater Gurgaon Extension's realty market is good connectivity and accessibility. The proposed 90-metre-wide link road from Gurgaon's Sector 63 merging into the proposed 150-metre-wide Gurgaon Extension Road will not only reduce the travel distance by a couple of kilometers, it will also ensure a smooth travel from Golf Course and Golf Course Extension Road.

The KMP bypass would take care of the heavy vehicular movement, reducing the traffic flow on the existing Gurgaon-Sohna-Alwar Highway. Also, the emerging area will have excellent connectivity with the NCR through the proposed Metro line.

Sohna is going to flourish and the quick appreciation on investment in real estate market. The 1,483km long Delhi-Mumbai Industrial Corridor (DMIC) is also located close to the forthcoming realty projects of the town.

Major developers like Eldeco, Shree Vardhaman, Ireo, Godrej, Tata Housing etc have plans to launch new projects here. Considering the residential and commercial developments on Sohna Road and Sohna itself, the area can be assumed as the next big thing for realty development after MG Road. “

BREEZ BUILDERS & DEVELOPERS (P) LTD is also developing a residential project ‘Global Heights’ in Sector 33, Sohna, under the Haryana Govt.’s affordable housing policy to cater to the housing needs of the middle class and lower middle class at affordable rates in the urban areas.

The group has been awarded a License by Govt. of Haryana to develop an Affordable Group Housing Colony in the Sector-33 Sohna Road, Gurgaon. Sector-33 Sohna is very close to Industrial Area of Sohna, and Sohna Town. It is surrounded by the beauty of nature along with renowned Institutes like G D GOENKA University, K R Mangalam International University.

The project has 1BHK & 2BHK flats at the government rate of Rs 3,600 per sq ft on carpet area. The project is just 20 minutes drive from Rajiv Chowk in Gurgaon and will be completed in three years. All the apartments in the project are come with basic amenities required for living.

Visit: - www.affordablehomessohna.in

Home Loan Rates likely to Severe

The Real Estate Market is demanding rate cuts, so that buyer’s affordability in purchasing a house improves. Any rate cut is likely to help in reviving the real estate market. This is also likely to help other sectors of the economy to improve their performance.

As RBI has not cut rates the real estate sector is disappointed, but bankers say interest rates on home loans are likely to drop in the near future, as the liquidity in the banking system has improved.

Real Estate prices in real terms after adjusting for inflation are expected to come down, RBI's governor Raghuram Rajan said.

“The value of properties should increase in a growing economy, but the housing data suggests that with inflation rate at 7% to 8%, prices are coming down in real terms and becoming more affordable as wages are going up,“ RBI's governor Raghuram Rajan said.

Despite this favorable observation by the RBI governor, the central bank continued with the existing high benchmark interest rates signaling banks to continue with tight liquidity policy to contain retail inflation to around 6%.

But, the good news is that many bankers are of the opinion that despite RBI's decision not to cut rates, interest rates on home loans are likely to soften in the near future, as the liquidity in the banking system has improved.

Real estate association CREDAI's president (Elect), Getamber Anand, expressed his disappointment at the RBI's decision to not cut interest rate. He said that a cut in interest rate would have helped revive the economy.

In fact, in the past seven years, RBI continued to believe that real estate prices were soaring and it was a bubble in the making. Because of this, RBI discouraged banks from lending to the real estate sector. With the economic indicators being stable and inflation coming down, a rate cut would have attracted more buyers to the sector during the festival season. We believe that it is only a matter of time before home loan rates come down giving further boost to consumer sentiments and real estate demand. However, in the near future, the RBI governor hinted at lowering rates if the macro conditions permit, which would boost the market sentiments.

RBI has decided to maintain its status quo on key policies, though lowering the interest rates would have acted as a catalyst to boost housing demand. As anticipated, with the change at the political front and onset of festive season, positive sentiments are seen in the market and lowering the rate of interest would have encouraged homebuyers further. The decision to have stable policies will be beneficial in the long run but keeping in mind the current moderate demand in the market, a small cut in the rate of interest would have made a big difference.

The decision of RBI to keep the interest rates on home loans unchanged has dampened our hopes, as the interest rates in the last quarter were also not touched.

But this time the expectations from RBI was that keeping in mind the growing positive sentiment in the real estate sector, the reduced rates on home loans would have given impetus to the existing upward graph of the positive sentiment being shown by home seekers ever since the new government assumed office at the Centre.

Raghuram Rajan, however, is not overtly concerned about the high property prices. “Buyers' cash down payment of 20% while purchasing a residential unit provides enough cushion to the bank's loan”, he said.

Raghuram Rajan said the appreciation in property rates is in tandem with the inflation in a majority of cases, and added that the RBI is not concerned about the lenders' perspective because there is an equity component which home buyers get in while getting a loan.

In the view of high property prices Haryana Govt. has also taken a step. Haryana Govt. is intended to encourage the planning and completion of Group Housing Projects on Sohna road wherein apartments of pre-defined size are made available at pre-defined rates within a particular time-frame. All such projects shall be required to be necessarily completed within predefined time frame from the approval of building plans or grant of environmental clearance, whichever is later. The licenses shall not be renewed beyond the said time period from the date of commencement of project.

For More Info about Affordable Homes Sohna:-

Visit: - http://affordablehomessohna.in

Sohna Road: Next Realty Destination

Sohna Road is appearing as the booming realty destination in Gurgaon and is proving to be in good demand with supply keeping pace. An example of this lies in is the high number of transactions taking place in this area.

Sohna Road has residential apartments, commercial spaces, villas, IT parks and retail. As a result this location has become the centre of Gurgaon.

The availability of land for commercial and residential development is one of the main factors driving development in this location. As a result it shows huge demand and appreciation in property prices on the Sohna Road. The Master Plan Sohna for the city has opened up many sectors for real estate development. With 30 to 35 sectors getting approval, the area is witnessing huge real estate activity.

Over the several past years, real estate values in Gurgaon have shown a significant appreciation of almost 50% in both the commercial & residential segments, making it a sought after destination for investors.

Commercial projects command Rs 12,000 per square foot while IT parks come for Rs 5,500 to 6,000 a square foot. Residential plots in the area range between Rs 70,000 to 80,000 per square yard, prices for apartments range between Rs 6,000 to 9,000 per square foot.

One of the main reasons for the growing demand is the infrastructure and enhanced connectivity options that are improving, but not enough to keep pace with the growth in the area.

Old Gurgaon is saturated and after old Gurgaon, the only availability of raw land for expansion of Gurgaon is Sohna Road. The Sohna Road is proposed to be widened to six lanes with good connectivity to NH-8 and this has made the area the next sought after residential & commercial destination.

A key driver of demand is the employment generated in Gurgaon. There is a large inflow of highly paid professionals into Gurgaon every year, which converts into strong demand for housing in peripheral areas.

In the view of meeting supply of high demand Haryana govt. have also taken a step. Haryana Govt. is intended to encourage the planning and completion of Group Housing Projects on Sohna road wherein apartments of pre-defined size are made available at pre-defined rates within a particular time-frame. All such projects shall be required to be necessarily completed within predefined time frame from the approval of building plans or grant of environmental clearance, whichever is later. The licenses shall not be renewed beyond the said time period from the date of commencement of project.

For More Info about Affordable Homes Sohna:-

Visit: - http://affordablehomessohna.in