November 14, 2024 |
Sohna Emerges as New Micro-market in Delhi-ncr; Set to Add 16000+ Residential Units in 3 Years
Haryana’s Sohna is emerging as a new micro-market in the National Capital Region (NCR). The town has experienced a remarkable rise in residential supply post-pandemic, becoming the third-largest market in Gurugram after Dwarka Expressway and New Gurgaon.
According to Square Yards, the surge in real estate is due to the improved infrastructure and increased developer activity. It stated that the total new supply in Sohna (since 2020) already surpassed the cumulative supply of the previous decade (2010–2020), signalling an inventory with an average age of less than four years. It noted that the market is mainly dominated by 2BHK units, which account for 65 per cent of supply, followed by 3BHK units at 26 per cent.
Sohna Real Estate News
In recent years, Sohna has witnessed a notable shift towards mid-to-high-end properties. The real estate developers are focusing on premium segments. The report said that the properties priced above Rs 1 crore constitute 34 per cent of the new supply, more than double the 15 per cent share in 2019.
The region’s residential pipeline remains robust, with over 16,000 new units expected to be delivered over the next three years.
Commenting on the development, Rajat Likhyani, Principal Partner, Square Yards said that several leading developers have strategically positioned themselves, securing land parcels and actively rolling out new launches across on-going and new projects.
“The response from homebuyers has been equally robust, matching the increasing supply. At Square Yards, we are observing sustained growth in buyer interest in Sohna across all segments—apartments, independent floors, and plots. This rising demand has, in turn, driven property prices into double-digit growth territory. We view this as the early phase of Sohna’s long-term growth narrative, with the micro-market presenting substantial opportunities for end-users, investors, and developers alike,” he said.
Sohna Real Estate Market News
The Square Yards market insights suggest that affordability continues to drive demand, and investor interest is on the rise. It stated that about 23 per cent of buyers are targeting properties priced between Rs 1 to 2 crore, and 6 per cent focusing on properties above Rs 2 crore.
Property price appreciation in the region has been steady, with values almost doubling since 2019. In 2024, prices saw a 13 per cent increase compared to the previous year, with current rates ranging between Rs 7,500 and Rs. 8,500 per sq. ft, the report said.
Sohna Real Estate Market
According to the report, Sohna has attracted major developers, with Signature Global emerging as the leader in project launches since the pandemic. Their flagship development, ‘Signature Global Park’, stands out as one of their most significant contributors to the region’s growing inventory. Other key players include Ganga Realty, with their project ‘Ganga Tathastu’, as well as MVN Infrastructures Pvt Ltd, Central Park Group, Silverglades, and Ashiana.
Pradeep Aggarwal, Founder & Chairman, of Signature Global (India) Ltd, believes that Sohna holds immense potential for future development. He added that the company recently launched DAXIN, the mid-housing real estate project located in a prime position right next to the Sohna Toll Plaza.
“DAXIN offers an exceptional living experience, complete with world-class amenities in a rapidly developing neighborhood. Spread across 125 acres, the project features Signature New Launch Lowrise Floors, thoughtfully designed for those seeking spacious and luxurious homes. With premium interiors and cutting-edge facilities, DAXIN delivers a truly indulgent lifestyle,” he said.
Kushagra Ansal, Director, Ansal Housing said, “Known for its strong focus on the mid-to-high-end segments, Sohna offers an array of premium housing options—including apartments, independent floors, and plots—catering to both discerning end-users and serious investors. As demand intensifies, Sohna’s market fundamentals signal substantial long-term growth potential, presenting a unique and compelling opportunity for buyers and investors alike to capitalize on its upward trajectory.”
Saurab Saharan, Group Managing Director, HCBS Developments, said, “This growth, driven by improved connectivity, modern infrastructure, and its proximity to key employment hubs, is monumental for the sector, encouraging developers to cater to its development. We look forward to playing a part in this dynamic expansion, providing homebuyers with thoughtfully designed properties that meet the needs of today’s lifestyle while contributing to the region’s long-term development.”
Source : ET Now News
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