Guest Column

Affordable Prices and Future Prospects Driving the Sohna Property Market

By Sanjeev Arora, Director, 360 Realtors

Gururgram / November 7, 2024: Gurgaon is undoubtedly one of the fastest growing urban centres in India, marked by unprecedented pace of growth. It is a preferred choice for numerous MNCs, indigenous enterprises, start-ups, banks, and much more. From towering commercial buildings to spellbinding malls to posh neighbourhoods, Gurgaon epitomizes the dynamic megapolis.

On the flip side, high octane growth of Gurgaon, necessitates a constant need for new real estate hubs & corridors, as existing ones reach saturation very soon. Many of the emerging locations a few years back such as Dwarka Expressway and Golf Course Extension are now well-established micro-markets. Demand has soared and property prices have jumped steeply, making it out of reach for many.

This also means the pressing need for new urban catchments, where the affordable and mid income segments can move. In the south of Gurgaon, Sohna is emerging as one such destination. Connected with Gurgaon via the 6-lane Gurgaon-Sohna Expressway, Sohna offers a relatively affordable, peaceful, and fast-growing urban hub.

A Sought-After Residential Destination.

Sohna is becoming a popular housing destination as many households are shifting here thereby accelerating the demand. There are plenty of options in high rise, plotted development, builder floor categories. Rates in Sohna are still reasonable for many mid-income households. Lands and plots are available in the sweet range of INR 6,000- 7,000/ Sq. Ft. Compare this with other prominent areas such as Golf Course Extension Roads, were prices are in the range of INR 22,000- 30,000 / Sq. Ft.

Besides budget, there is a visible appetite in the high-mid range of INR 1-2 crores. Signature Global is the pioneer in the Sohna region having launched a string of big projects. Meanwhile, with increased spotlight on the region, host of other developers such as Central Park, Paras, MVN, Ganga Realty. Etc. have also come up with big launches.

Property prices have surged significantly, with prices almost doubling in many projects in the past 3-4 years. This has also renewed interest of the investor fraternity towards Sohna. Many investors including NRIs are betting big on the market.

Improved Infrastructure and Connectivity

Sohna is enjoying a big infra push as it is part of the first stretch of the Delhi Mumbai Expressway. This is bringing new investments in trade, commerce, and industries. Proximity to the DMIC and Delhi Mumbai Expressway, connects Sohna with other major logistics hubs such as WDFC, KMP, Delhi-Agra expressway, Jewar airport, etc.

Soon IMT Sohna will commence operations. The dedicated trade zone will be spread across sprawling 1500 acres of land and will be largely focused on electronics industries. This will further draw new investments and business enterprises and the positive effect will cascade into the realty market.

Sohna is also well connected with the Sohna Gurgaon expressway, which puts it strategically with numerous other key commercial and retail hubs in Gurgaon (within 15-25 mins drive).

Tranquil and Serene Lifestyle

Improved infrastructure and affordable price ranges are not the sole criteria that makes Sohna a hotbed of real estate activities. Despite a high growth urban corridor, Sohna continues to maintain its rustic charm, tranquil environs, and a peaceful living ambiance. It is dotted with beautiful rural landscapes, springs, temples, etc. Families who would like to avoid the noise and the hustle-bustle of the city can take refuge in Sohna. The beautiful and serene region strikes the right balance between a growing urban centre and a peaceful environment. Thanks to local rural communities, there is an abundance of fresh vegetables, food, and milk supplies.