September 25, 2024 |
Sohna Road and Dwarka Expressway: The New Epicenters of Gurugram’s Realty Market
Gurugram is one of the most sought-after real estate destinations in the NCR region. Known more importantly for the presence of multinational companies and high-rise residential projects, this city has redefined the concept of urban living. Today, it offers a mix of residential, commercial, and retail spaces for varied homebuyers, businesses, and investors.
Among the growing hotspots, the Dwarka Expressway and Sohna Road have emerged as top realty hotspots, attracting huge interest from home buyers. A recent analysis conducted by Anarock reveals that the housing market has demonstrated strong performance during the first half of 2024. Approximately 32,200 units were sold in the Delhi-NCR region. Gurugram has emerged as a favored destination for both investors and end-users, largely due to the significant influence of Dwarka Expressway and Sohna Road on this growth. Furthermore, the swift development of infrastructure in these regions has increased their attractiveness. The growing demand for luxury residences also indicates a notable change in the preferences of homebuyers within the area.
Various factors have significantly contributed to the rising demand for real estate projects in the region. The completion of the Dwarka Expressway has been a game-changer for the sector. It has reduced the travel time between Delhi and Gurgaon immensely with less congestion on roads. Its direct connectivity to IGI Airport, along with the Delhi-Mumbai Expressway, is making it an exciting destination for the residential and commercial segments. It will further offer escalations in property prices over the metro development, attracting many buyers along with investors. Thus, the corridor now manifests diversified property options and is perceived to grow in the near future.
Meanwhile, Sohna Road has garnered significant attention due to its proximity to the Delhi-Mumbai Expressway and major commercial hubs in Gurgaon. The arterial road’s quick connectivity to Golf Course Extension Road and Southern Peripheral Road has boosted the development. Furthermore, the proposed metro route along the Sohna Road will connect with the proposed Delhi-Gurugram-Alwar RRTS line at Rajiv Chowk, as well as with the already-approved Metro extension from Millennium City Centre Metro station at the Gurugram railway station.
Hence, developers are responding promptly to the development and evolving needs of buyers and have been tailoring their offerings to cater to this growing segment of discerning buyers.
Commenting on this, Manish Agarwal, Vice President, CREDAI-NCR, and MD, Satya Group, says, “The excellent connectivity offered by the Dwarka Expressway and Sohna Road has positioned them as growing suburbs in the NCR region. Both regions have noted remarkable growth in property prices as wealthy buyers look for properties that offer convenience and comfort. This leads to increased demand for luxury homes and premium commercial spaces. Thus, in the coming years, the areas are expected to show exponential growth in the real estate market.”
Nayan Raheja of Raheja Developers says, “Gurugram boasts of towering skyscrapers that enhance the beauty of the city. Due to the strategic location and excellent infrastructure of the Dwarka Expressway, this corridor has become ideal for end-users looking for long-term value. Our strategically-located projects on the Dwarka Expressway offer a unique blend of luxury and convenience, providing an exceptional living experience. These corridors also offer seamless connectivity to Delhi, Gurugram, and other key destinations, making them highly attractive for both homebuyers and investors. With infrastructure development in full swing, including the upcoming metro expansion and improved road network, the region is poised for exponential growth. This has led to a significant surge in demand for both residential and commercial properties.”
Rajjath Goel, Managing Director, MRG Group, says, “Gurugram has long been recognized for its world-class infrastructure, and the Dwarka Expressway and Sohna Road are further enhancing the city’s real estate landscape. Both regions are experiencing comprehensive growth, making them prime destinations for first-time homebuyers and investors alike. As demand continues to rise, we, as developers, are committed to shaping this vibrant market and meeting the evolving needs of buyers.”
Moreover, both the Dwarka Expressway and Sohna Road offer high rental yields and significant capital appreciation potential. This trend is expected to continue, fueled by ongoing and upcoming infrastructure developments that enhance the region’s overall appeal. In addition, as the festive season approaches, the sector sees a considerable response from the buyers. This period is favourable for investments in both residential and commercial segments. Hence, both areas see the development of significant projects with vast facilities and amenities that elevate buyers’ lifestyles, leading to an upsurge in the sale of properties.
Gurpal Singh Chawla, Managing Director of TREVOC, says, “The development of Dwarka Expressway has significantly reshaped Gurugram’s real estate landscape, positioning it as a prime investment destination. Continuous infrastructure advancements along this corridor are driving rapid growth in both commercial and retail sectors. With an increasing number of affluent Indians gravitating towards luxury properties, we anticipate robust growth in the luxury segment within this micromarket. The pace of urbanization and substantial investments along the Dwarka Expressway will undeniably enhance its appeal, solidifying its position as a top choice for both investors and end-users.”
Saurab Saharan, Group Managing Director, HCBS Developments, says, “The seamless connectivity of the Dwarka Expressway has amplified its capital appreciation potential. Its proximity to the Delhi-Mumbai Expressway, which is part of the Delhi-Mumbai Industrial Corridor, has further added glory to the region. Further, with buyers going ahead with the purchase of luxury properties, we expect more growth in the segment, continuing to position Gurugram as the lead in this boom.”
Thus, the Dwarka Expressway and Sohna Road have established themselves as the premier real estate hotspots in Gurugram, playing a crucial role in transforming the city’s real estate environment. These regions are undergoing significant development and are poised to lead the surge in the NCR real estate market, setting new urban standards through the investment opportunities they offer.
Source : FE
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