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Sohna, Gurugram real estate market skyrockets due to DMIC development

Priya Singh | 2023-09-29

Real estate developers in Sohna are already capitalising on this opportunity

Sohna is a rapidly developing area located in the southern part of the Gurugram district in the Indian state of Haryana. It is known for its scenic beauty, proximity to the Aravalli Hills, and growing real estate market. The opening of Delhi-Mumbai Expressway, one of the largest infrastructure projects in India, boosted real estate development in the Sohna region, with luxury independent floors emerging as a key segment. The expressway, which spans 1,300 km, will provide seamless connectivity between Delhi and Mumbai, reducing travel time between the two cities to under 12 hours. This has led to increased investor interest in the Sohna region, which is located along the expressway and is expected to benefit from improved connectivity.

The opening of the Delhi-Mumbai Expressway is a major event that heralds the beginning of a new era of infrastructure development and economic growth in the NCR. It has the potential to ignite trade and business activity, resulting in positive outcomes for all. The property market in Haryana’s Sohna and Gurugram benefited from this project as well, as it is anticipated that demand in these areas will rise dramatically in both the residential and commercial sectors.

Real estate developers in Sohna are already capitalising on this opportunity, with several luxury housing projects in the pipeline. These projects focus on providing spacious and independent homes, catering to the needs of high-net-worth individuals and affluent families.

Pradeep Aggarwal, founder & chairman, Signature Global (India), said, “The commencement of the eight-lane Delhi-Mumbai Expressway augurs more growth and prosperity for Sohna and New Gurugram. As the biggest project of NHAI, this modern state-of-art expressway will not only provide direct connectivity between Delhi and Mumbai but also further ease the traffic congestion flowing across the Millennium City. This project will provide a world of opportunities for the millions of people of Gurgaon and Sohna, who will gain new logistical connectivity to the entire Delhi NCR region. The launch of the Delhi-Mumbai Expressway will have a cascading effect on the property prices in Sohna and New Gurugram. Consequently, the demand in both residential and commercial segments is expected to increase significantly in these regions. With Signature Global properties developed near the Delhi-Mumbai Expressway, we are confident that these appreciating property prices will be leveraged to further attract new prospective homebuyers. We anticipate that social infrastructure developments around the expressway will have a multiplicative effect in bolstering the Indian economic growth story.”

As per sources Signature Global Park 1, Sohna is receiving good response in the region.

The Delhi-Mumbai Expressway drove demand for luxury independent floors in Sohna, as more and more affluent buyers look for spacious and exclusive homes that offer privacy and luxury. With improved connectivity, Sohna is emerging as a preferred destination for luxury living, with developers offering world-class amenities and unique lifestyle experiences to cater to the demands of the discerning buyer.

Jatin Lohia, director, LID, said, “Sohna spurred boom in both the residential and commercial growth. The new expressway unlocked the region’s maximum potential, causing a surge in real estate development and establishing Sohna as a multi-utility residential corridor. It provided a solid blueprint for developing townships, independent floors, and business hubs. While easing congestion and providing easy connectivity with nearby states, the region witnessed a surge in housing demand and price appreciation of existing and upcoming residential projects.”

The Delhi-Mumbai Expressway is a 1,390-km national highway that will reduce travel time from 18 to 20 hours to approximately 12 hours between Delhi and Mumbai. The 246-kilometer route will reduce the existing five-hour journey from the capital city to Jaipur to just three hours. The Delhi-Dausa-Lalsot stretch’s construction, which cost more than Rs 12,150 crore, will hasten the economic development of the area by attracting businesses and investors and creating a large number of job possibilities. From the Gurugram Expressway and Sohna on the Dausa end, the new highway will enhance connectivity between Delhi, Jaipur, and Mumbai, reducing travel times and enhancing Gurugram’s attractiveness as a location for commercial and residential development. Additionally, it will increase demand and property prices.

The region’s proximity to office hubs and other business centres along the Golf Course Extension Road and the Southern Peripheral Road, as well as Indira Gandhi International Airport, makes it a popular working-class real estate choice. The Gurugram-Sohna Road (NH 248A) has hastened the migration of the upper middle and upper income classes to Sohna. Along with other game-changing connectivity, infrastructure developments such as NH-48, KMP, and others will provide a significant boost to the economy and bring about a transformational shift in Sohna’s socio economic landscape.

Sohna became a centre of attention because of the launch of the new expressway, the property prices rose in the entire Gurugram. Realty in the vicinity of the Sohna-Dausa stretch of the Delhi-Mumbai Expressway benefited the most and sizeable peak in housing demand which is witnessed due to the seamless infrastructural and road connectivity.

Santosh Agarwal, CFO, and executive director, Alpha Corp, said, “The new expressway will provide faster connectivity between Delhi, (from Gurugram Expressway & Sohna on the Dausa end) Jaipur, and Mumbai, reducing travel time and making Gurugram a more attractive location for businesses and residential development. The improved infrastructure and increased demand for residential properties are likely to attract investors looking for profitable investment opportunities. Additionally, the development of new infrastructure in the region is likely to increase property prices and drive demand for real estate.”

Overall, the real estate market in Sohna, Gurugram is witnessing exciting new trends that cater to the changing needs and preferences of homebuyers. With the focus on luxury independent floors, co-living spaces, sustainability, and spacious homes, developers are creating innovative projects that meet the diverse needs of the market.