Realty Demand in Sohna Has Pushed Due To an Increase in Industry & Infrastructure

Sohna is now located in South Gurugram and has become an eminent micro-market in the Millennium City. The first stretch of the Gurgaon-Sohna Expressway (NH-248A) has become operationalized, and the commute time between Gurgaon and its southern suburb has come down to mere 15 minutes. It has become faster than it takes to travel within Gurugram. This is the reason Sohna has been seeing heightened demand for real estate.

As you know, Sohna is the entry point of the 1350-km-long Mumbai-Delhi Expressway. After the government’s other game-changing industry and infrastructure development like 1500 acres IMT (Industrial Model Township), Kundli-Manesar-Palwal (KMP) Expressway, freight corridor, Orbital Rail Corridor. Sohna has very close proximity to Jewar International Airport, and operational IGI airport among others making Sohna accessible to various economic hubs.

The industries have been pushed for several companies to set up units in the 1500 acres IMT, connecting Gurgaon-Alwar road and KMP Expressway. The government has developed more than 500 acres as an electronic manufacturing cluster in IMT. Sohna has been growing as a popular destination for warehousing and logistics. This is the reason real estate activities are emerging like never before. Several popular developers are undertaking a modern development that offers holistic living and lifestyle in the lap of nature. So, it has increased the demand for homes but also a consistent rise in habitation. The Sohna real estate has given significant growth since 2013 and it has also delivered over 30,000 units up to the third quarter of 2021, according to Anarock.

Sohna is developing faster than expected and the town possesses natural demand which will further growth in industries and jobs. The increase in demand is due to a reduction in travel time and a change in preference towards a good quality of life, living close to nature, and best-in-class amenities has lured the home buyers, commented on the region, Amarjit Bakshim CMD, Central Park.

Central Park Flower Valley has been spread across approximately 250 acres and 350 plus families. All these numbers have been expected to swell further to over 1000 families as delivery in the group housing project is lined up. Central Park Flower Valley is a completely walled township with a vast swathe of green, a multi-tier security system, and operational amenities like a horse stable, basketball, and volleyball courts, indoor badminton courts, football ground indoor gymnasium, and many more. In fact, the company is going to launch luxury independent floors by the end of this month based on the concept of a fruit valley.

The Dausa stretch of the Mumbai-Delhi Expressway has become a major landmark in India’s infrastructural endeavors. It will reduce the commute time, offering easy access to economic hubs along the expressway and new developments in housing, office, warehousing, and logistics will completely change the socio-economic landscape of Sohna, said Arvind Rai, Director of Valuation Service, Colliers.

Gurgaon is witnessing the rise of air and noise pollution, traffic congestion, and higher commute time for work and entertainment. Residents are gradually moving away from the hustle and bustle of the city to a quieter and more serene location. So, this is the reason Sohna is the most sought-after destination that is replete with not just lifestyle-fused developments and adequate social infrastructure.

There are tons of ancillary industries and warehouses that are operating in the region currently. As IMT Sohna shapes up and industries move to this industrial town, the demand for real estate has seen a manifold rise. Property price in Central Park Flower Valley has seen a 2.5-4 time rise.

The connectivity has become a catalyst of this region and the upcoming Sohna-Dausa stretch of DMIC, Gurugram. The micro market has experienced multiple benefits. Sohna is the emerging realty hub in Gurugram which has improved the connectivity and transportation links to other cities. This has also encouraged businesses to set up offices and factories, said Pradeep Aggarwal, Founder & Chairman of Signature Global (India), Ltd.

Sohna has transformed with better connectivity and industrial activities, and more employment opportunities are being created.

Jul 30 No Comments

Newly opened Sohna Elevated Road to boost the Gurugram’s Real Estate market

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

A section of the elevated road between Subhash Chowk and Badshahpur is now open to travelers. The construction is intended to shorten travel times and ease traffic congestion between Gurugram and Sohna. The elevated main route will also be connected to the Delhi-Vadodara expressway by an entry at Alipur. Sohna Road is a prime illustration of how Gurugram has consistently made a significant contribution to the expansion of the NCR real estate sector. Sohna, located among one of the country’s oldest mountain ranges, home to lakes, hot springs, temples, and various historical buildings, has remained a well-liked tourist destination. South Gurugram is another name for the district of Sohna, which is located in Gurugram. Over the past two decades, Gurugram has experienced tremendous economic expansion, which has accelerated urbanization and boosted the real estate sector.

Many projects have over the time been relocated to the city’s western and southern districts because of the rapid demand in rising areas like MG Road, Udyog Vihar, and Cyber City. Sohna Road, Golf Course Extension Road, and Southern Peripheral Road (SPR), which extends all the way to Sohna town, are just a few of the new areas that resulted from this. The working-age population of Gurugram is increasingly choosing to buy real estate in Sohna. This makes the area, a desirable site to invest in residential real estate due to its accessibility, excellent social infrastructure, and affordability. Sohna Road in Gurugram has thus become one of the most sought-after real estate sites.

The Sohna elevated road opening will provide increased and enhanced connection to significant regions and economic areas of Gurugram. It will shorten travel times and facilitate mobility to locations where getting there took a long time owing to traffic. After commuters are granted access to the 22-km Sohna elevated road, real estate development in the area will also increase. End users employed in places such as Golf Course, Golf Course extension road, and cyber hubs will increasingly opt for the Sohna region. With Sohna’s excellent connectivity to Gurugram’s commercial centers, the real estate market would naturally grow.

source

Mar 03 No Comments

Gurgaon’s micro markets report increase in price, demand

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

NEW DELHI: Some of the micro markets in New Gurgaon are performing better than their counterparts in NCR, according to the property consultants and real estate developers.

According to Anarock, average property prices in the top 7 cities rose 14% over the past seven years, with Pune, Hyderabad, Bengaluru and Mumbai among the best cities to invest in.

In the National Capital Region, which includes New Delhi and neighbouring cities such as Gurgaon and Noida, property prices increased 2%, although in areas like Sohna Road and Dwarka Expressway they jumped 18-19%.

“Growing demand and strong growth in residential, commercial and industrial sector real estate has led to the growth of the micro market around Gurugram. A changed real estate market has emerged in the era of epidemic and now new buyers are planning to take home due to these new markets in the border areas of the city,” said Karan Kumar, CMO, DLF Limited.

A recent JLL report has said that new residential project launches would continue to dominate the realty market in 2021. With major developments like an urban transit system including the Delhi-Faridabad metro link, shifting of Kherki Daula toll, construction of the Delhi-Mumbai Industrial Corridor, revamping of Southern Peripheral Road, revival of green belts, among others, New Gurugram is attracting both developers and buyers.

“Infrastructure development has been directly impacted by real estate prices and demand. These announcements will help to increase prices in parts of Gurugram, generate employment and strengthen the local economy,” said Kumar.

“These micro markets are more popular among home buyers due to their better prices and modern resources. Better connectivity will accelerate the development work in this area which will attract investors and at the same time will increase the demand of the market,” Kumar said.

The realty market is gradually recovering from the COVID induced challenges and the sector is already witnessing an increased demand from buyers. Increased focus on health and wellness aspects in the post-Covid era is now making customers go for ready-to-move-in projects by trusted developers.

Vatika Group also has multiple residential and commercial project in the region and will develop close 1 million sq ft.

The average price of a home in the top 7 cities rose from approximately INR 4,895 per sq. ft. in 2013 to INR 5,599 per sq. ft. by Q3 2020-end.

Jan 05 No Comments

Sohna Road is NCR’s Top Micro Real Estate Market

Author: +91-7765906259

Categories: Gurgaon Property News & Real Estate Updates

GURUGRAM: Sohna Road and Dwarka Expressway in Gurugram have emerged as the top performing real estate markets in NCR, with an appreciation of 19% and 14%, respectively, in the average property prices since 2013. This is as per the latest report released by realty consultants Anarock. And these two micro markets are followed by New Gurgaon, Sohna and Noida Extension, where the appreciation has been in double digits.

Overall, the report says that the average property prices in the top seven cities of India in the past seven years saw close to a 14% jump. The average price of a home in the top seven cities rose from approximately Rs 4,895 per square feet in 2013 to Rs 5,599 per square feet by the end of the third quarter of 2020. Among these, Pune saw the maximum rise of 38%, followed by Bengaluru and Hyderabad, with 20% growth each.

Interestingly, NCR was at the last with merely 2% overall appreciation in property prices from Rs 4,488 per square feet to Rs 4,580 per square feet in the past seven years. While Sohna road witnessed an increase in the average price from Rs 5,640 to Rs 6,707 per square feet, the property rate in Dwarka Expressway appreciated from Rs 4,668 to Rs 5,340 per square feet in the past seven years, the report says.

Similarly, with 13% appreciation, the average realty prices increased from Rs 5,375 to Rs 6,100 per square feet in New Gurgaon. In Greater Noida (west), the hike has been 11% from Rs 3,050 to Rs 3,370 per square feet, according to Anarock.

Prashant Thakur, director (research) at Anarock, said, “While considering cities to invest in, the much-hyped housing inventory overloads need to be viewed contextually. Slow-moving housing inventory tends to be in unviable locations of a city, and the same city will invariably have pockets which draw good demand.”

Source By: https://timesofindia.indiatimes.com/city/gurgaon/sohna-road-is-ncrs-top-micro-real-estate-market/articleshow/79769230.cms