Gurgaon:Sohna Road sees high demand for smaller commercial units

Delhi NCR

The corporate houses in Gurgaon are moving from bigger commercial office spaces to smaller offices. Sohna Road is one such destination that has become their preferred choice. Industry experts say that such trends in the commercial real estate are due to the sluggishness in the economy. “The transition from bigger office spaces to smaller units in Gurgaon has certainly channelised the demand for commercial real estate in Sohna Road. Apart from this, the lower rental values are what corporate houses are looking at,” says Ajay Bajpai, proprietor, Homes2offices.

Where rental values of commercial space in DLF Cyber City ranges from Rs 75-100 per sq ft, and at MG Road from Rs 75-150 per sq ft depending upon the furnished and unfurnished state, Sohna Road offers the commercial space in the range of Rs 40-60 per sq ft.

Although there is not much difference in commercial rental values in the premium commercial areas such as DLF Cyber City, MG Road and Sohna Road, companies still opt for Sohna Road as it offers smaller units.

Gaurav H Luthra, director, Foots and Yards, a city based realty firm says, “In an unfavourable macro-economic environment companies are cutting costs and are thus, interested in taking up smaller units”.

The minimum space available in DLF Cyber City is 3000 sq ft and at MG Road it is 1000 sq ft. Sohna Road,on the other hand, offers a wide range of options from 800–30,000 sq ft.

Apart from this Sohna Road also boasts of good connectivity. It is well connected to NH-8 in the north and is intersected by Golf Course Extension Road towards the south. According to Gurgaon’s new Master Plan, Sohna Road will be developed into a state highway. Already, work on converting it into an eight-lane road is underway. The master plan also shows a Southern Peripheral Road which will intersect Sohna Road near Vatika City in Sector 49.

Stating another reason for corporate houses showing their interest in Sohna Road, Pankaj Bansal, proprietor of Oxford Realtors and Arbitrators, says, “The real estate opportunities with corporate houses are quite few. They are not capable of, or are not in a position to earn big money after bearing high cost in terms of rental values and maintenance charges”.

Source:http://content.magicbricks.com/gurgaonsohna-road-sees-high-demand-for-smaller-commercial-units/