11 realtors to build South of Gurgaon
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by Axiom Landbase
- November 16, 2015
- Market Updates
- 0
Eleven builders on Monday announced they would jointly develop and promote Sohna as an upcoming destination, called ‘South of Gurgaon’.
They have taken a cue from the success story of Indirapuram, Crossing Republik, and Raj Nagar Extension, where developers jointly lobbied local authorities to develop infrastructure.
Delay in the development of infrastructure in areas like Dwarka Expressway and New Gurgaon has affected buyers and builders alike.
On Dwarka Expressway, for instance, some projects are complete but possession cannot be given as the basic infrastructure — like main road, sector roads, and sewer lines – is not in place.
Rohit Raj Modi, director of Ashiana Homes, which is also a member of the South of Gurgaon consortium, said the coming together of builders will help in working with the government and other authorities to develop infrastructure in the region.
He said similar experiments in Indirapuram and Crossing Republiks were a big success.
A total of around 2,000 acres will be developed over a period of time. Mohit Arora, director of Supertech, which is developing a township on around 140 acres, said the consortium will help the developers in convincing the authorities to develop infrastructure on time. Licences have already been given to build around 65,000 houses on 700 acres of land.
The developers are selling apartments in the area at around Rs 4,500 per sq ft as against Rs 6,000-7000 per sq ft on Sohna Road, Rs 8,000-10,000 per sq ft on Golf Course Extension Road and Rs 12,000-24,000 on Golf Course Road.
The number of houses that can be built per acre using the same permitted area is higher in South of Gurgaon as against that in Gurgaon.
This will enable them build smaller houses. This will bring down the price of an apartment to around Rs 50 lakh as against a prevailing a minimum of about Rs 1 crore in Gurgaon.
At present, a four-lane Sohna Road connects Gurgaon and Sohna. The area being developed is about 15km from Subhash Chowk on NH- 8, and around 20km from Cyber City and Golf Course Road. Modi said construction of the proposed flyover at Badshahpur will decrease driving time.
