Tag: Value Homz

Business World

NCR market registers a rise in demand and variety of luxury homes

Mar 31, 2021 by Neel Achary 0 Comments #and New Gurugram, #Director, #Dwarka Expressway, #Manesar, #Mr. Amit Thakran, #Sohna Road, #Value Homz

By Mr. Amit Thakran, Director, Value Homz

The luxury continues to redefine itself with changing times; the definition depends on the prevalent social ecosystem. Similar is the case now when a global pandemic continues to loom and dominate our lifestyle choices, buyers of luxury spaces the UHNI and HNI are seeking homes that provide sustainable luxury and a promise of wellness and security. Be-spoke experiences, multi-functional spaces, integrated home technology systems have come to be classified as mandatory requisites from luxury buyers. These buyers are now more conscious about entering into an agreement with reputed brands to have complete assurance of their investments made.

One of the country’s major real estate markets – Delhi-NCR, has witnessed distinguished luxury realtors constantly looking to upsize their offerings due to the pent up demand and low home loan interest rates.  This has led to never seen before variety in the kinds of homes available for buyers-from modern villas, penthouses to townhouses and bespoke apartments. As per recent research by Anarock, the NCR market in 2020 saw luxury housing sales better than 2019; 23,220 units were sold in which the luxury segment had a percentage of 4%, while in 2019, this was close to 3% of 46,910 units sold. This conveys a ray of positivity for the luxury developers.

The same report also highlighted that Gurugram in NCR had seen maximum housing sales and launches in 2020. This trend can be attributed to the fact that the city has one of the largest numbers of white-collar workers, with a homogeneous mix of industries. Adding on to it, development of new areas and improved infrastructure like Sohna Road, Dwarka Expressway, Manesar, and New Gurugram have also played a vital role in attracting the big names of the real estate market to come and construct their unique edifices here.

These newly developed areas on the peripheries have also proven to be a lucrative choice for the buyers and investors due to the availability of untapped resources, far from the clutter of the dense city. The lifestyle and quality of homes promised here in the luxury segment are becoming the selling points. In order to continue this positive trend of sales, circle rates in Delhi NCR should be rationalized as market prices are 30-40% lower than the circle rates. NCR Developers and the real estate associations have also written to the Government for reducing stamp duty like states of Maharashtra and Karnataka have done.

If a measure like stamp duty reduction is introduced for the Delhi NCR market, regions like Gurugram will bring significant growth in the overall economy, where demand for luxury housing is at an all time high and ample availability of luxury inventory already exists.

Business World

Sohna Road: An emerging real estate destination

Mar 8, 2021 by Neel Achary 0 Comments #Director, #Mr. Amit Thakran, #Value Homz

By Mr. Amit Thakran, Director, Value Homz

Gurugram has always been one of the major contributors to NCR’s growth in the real estate sector, and Sohna Road is a perfect example of that. Nestled in the foothills of Aravalli, Sohna was a major tourist attraction for a long time because of its lakes, hot springs, temples, and many historically important places. Located in the southern part of Gurugram, Sohna is also popularly known as ‘South Gurugram’. In the last few decades, Gurugram’s unprecedented economic growth has led to accelerated urbanization and rapid growth in the migrant population looking for employment opportunities.

In terms of infrastructural development, livability index, and expansion of civic amenities, Sohna has seen rapid growth. Sohna Road has become an excellent combination of the residential, commercial, and retail market in Gurugram, one of the preferred locations for residential properties. Over time, the rapid growth has created a ripple effect in key areas such as MG Road, Udyog Vihar, and Cyber City and pushed developments towards the city’s western and southern parts. Sohna is evolving as a key real estate destination for people working in Gurugram and surrounding regions, as it has proximity to different business centers and industrial clusters, provides good accessibility, affordable prices, and planned infrastructure upgrades.

Sohna Road offers plotted properties, apartments, villas, and duplexes for residential development. Easy connectivity, excellent social infrastructure, and affordability make this location an appealing real estate investment. Consequently, it has become one of the most sought-after real estate hotspots.

It is well connected to NH8, Golf Course Extension Road, Subash Chowk, Hero Honda Chowk, Old Gurugram, and KMP Expressway. Lying in the middle of Gurugram & New Gurugram, it is 28 km from Gurugram railway station and around 40 km from Indira Gandhi International Airport.

Sohna Road has been planned to be converted into a state highway according to Gurugram’s latest master plan (eight-lane road). The stretch, therefore, holds immense potential for real estate development in the near future. Sohna Road near Vatika City will intersect the Southern Peripheral Road (Sector 49). The proposed metro line will run along Golf Course Extension Road and the Southern Peripheral Road and reduce travel time to MG Road and Delhi. The connectivity is likely to get better with the proposed 150-meter road being constructed between Dwarka to Sohna Road.

Talking about social infrastructure, it is already an educational hub with the presence of prominent schools and institutions, several world-class hospitals, prominent hotels and resorts, a number of commercial establishments, and some prominent IT /ITES and Commercial Buildings.

Compared to other areas of Gurugram, the price range on Sohna Road is still affordable. The property rates in this area have witnessed an average increase of 20 to 40 percent per annum. A high occupancy rate is observed in the communities on Sohna Road. Top developers are coming up with many townships and integrated projects along the stretch, with all modern facilities offering high-quality, comfortable homes in South Gurugram at affordable rates. It has emerged as a self-supporting city with robust infrastructure and civic amenities.