Gurugram’s real estate market continues to thrive, with Dwarka Expressway and Sohna Road standing out as the most sought-after areas for homebuyers. According to a recent report by property consultancy Anarock, the first half of 2024 witnessed a surge in housing sales, with around 32,200 units sold across Delhi-NCR.
Notably, over 45 per cent of these units were from the luxury segment, marking a sharp contrast to just 3 per cent in 2019. This dramatic shift underscores the increasing demand for premium housing in the region, with affordable housing taking up 24 per cent of the total sales.
Luxury Takes Center Stage
The rise in demand for luxury properties, particularly in areas like Dwarka Expressway and Sohna Road, reflects the changing preferences of homebuyers post-COVID. The need for modern amenities, ample green spaces, and a lifestyle that balances comfort and convenience has driven this shift. Real estate developers, quick to understand these evolving needs, have been tailoring their offerings to cater to this growing segment of discerning buyers.
According to Anarock’s findings, the real estate market in Delhi-NCR has undergone significant transformation over the past five years, with Gurugram emerging as the focal point for both investors and end-users. Dwarka Expressway and Sohna Road are at the forefront of this real estate boom, with rapid development and infrastructural enhancements contributing to their appeal.
Developer Insights On Gurugram’s Realty Hotspots
Pradeep Aggarwal, Founder and Chairman of Signature Global, highlighted the strategic importance of these areas, stating, “The seamless connectivity to the Gurugram-Sohna elevated road makes it an attractive location for end-users and investors alike. Dwarka Expressway and South of Gurugram are rapidly transforming into thriving suburbs in the National Capital Region. Their proximity to the Delhi-Mumbai Expressway and commercial hubs like Cyber City and Golf Course Road has driven millennials toward these areas, particularly for their access to green spaces, which enhance social cohesion and overall well-being.”
Aggarwal emphasised the growing demand for sustainable and health-oriented living, a sentiment echoed by urban planners and developers alike. As more people prioritise physical and mental well-being, the need for green spaces and healthier lifestyles has become a central feature of real estate development in these areas.
The Rise Of Dwarka Expressway
Dwarka Expressway, also known as the Northern Peripheral Road, spans approximately 29 kilometres and connects Dwarka in Delhi to Gurugram in Haryana. Its strategic location, offering direct access to the Indira Gandhi International Airport and the Delhi-Mumbai Expressway, has made it a magnet for real estate development. This once-quiet stretch is now bustling with residential, commercial, and retail projects, transforming it into a prime destination for homebuyers and investors.
Pankaj Pal, Managing Director of Whiteland Corporation, noted the remarkable growth in property prices along Dwarka Expressway. “The Dwarka Expressway has emerged as one of the most dynamic real estate corridors in Delhi-NCR, witnessing an impressive price surge over the past five years. The micro-market has outpaced the national average, with luxury residences experiencing a 30 per cent annual price appreciation. Its strategic location and enhanced connectivity to key commercial hubs in Gurgaon have made the Dwarka Expressway a prime destination for luxury real estate.”
Madhur Gupta, CEO of Hero Realty, also emphasised the strong investment potential of Dwarka Expressway. “The region’s robust infrastructure development, featuring world-class amenities and transportation networks, has established it as a highly sought-after real estate destination. The 79 per cent price surge over the last five years highlights its exceptional investment potential. The growing demand for high-end residential and commercial spaces has driven up property values, making Dwarka Expressway a lucrative investment opportunity for both investors and end-users.”
The completion of the Dwarka Expressway, estimated at a cost of ₹9,000 crore, is expected to further enhance the region’s real estate value. With the project slated to be completed in four phases—two in Delhi and two in Gurugram—the expressway will continue to reshape the real estate landscape in NCR.
Sohna Road’s Strategic Importance
Sohna Road, another real estate hotspot in Gurugram, has also garnered significant attention due to its proximity to the Delhi-Mumbai Expressway and Gurugram’s major commercial hubs. The road enjoys seamless access to the six-lane elevated Gurugram-Sohna Corridor (NH-248A), connecting homebuyers to key commercial, retail, and entertainment hubs in just 15 minutes. Schools, hospitals, malls, and grocery stores are also located nearby, adding to the convenience for residents.
Rohit Mohan, Senior Vice President at BPTP, pointed out the immense potential of Sohna Road. “Gurgaon continues to be the top-ranked location for premium residential markets across Delhi-NCR, with impressive growth figures. The continued infrastructural development and new premium project launches along Sohna Road are expected to fuel this upward trend, making Gurgaon, particularly Dwarka Expressway and Sohna Road, a prime destination for real estate investments.”
In response to the growing demand in the region, Gurugram-based Signature Global has announced plans to launch a 130-acre project in Sohna, targeting the middle-income group. This project will feature low-rise floors, retail spaces, and plots for industrial or business use, reflecting the area’s diverse real estate offerings.
Future Outlook for NCR’s Realty Market Both Dwarka Expressway and Sohna Road are poised for continued growth, with their strategic locations, connectivity to key infrastructure projects, and emphasis on sustainable living driving real estate demand. As more homebuyers seek properties that offer green spaces and a healthy lifestyle, these areas are expected to remain at the forefront of NCR’s real estate boom.
The report by Anarock underscores the shift in buyer preferences toward luxury properties and sustainable living, with Gurugram leading the charge in meeting these demands. The rapid development of both Dwarka Expressway and Sohna Road is a testament to the region’s potential as a thriving real estate hub, offering investors and homebuyers an opportunity to tap into the growing market.
Source : Business World
