Industry and Infrastructure Push to Drive up Realty Demand in Sohna

Industry and Infrastructure Push to Drive up Realty Demand in Sohna

The government’s industry and infrastructure push will lead to Sohna’s emergence as a pivot town of all economic activities. The town is an entry point of the Mumbai-Delhi Expressway and is well-positioned to emerge as a prominent real estate destination.

Sohna, centrally located in South Gurugram, is a prominent micro-market in the Millennium City. Ever since the first stretch of the Gurgaon-Sohna Expressway (NH-248A) was operationalized, the commute time between the Millennium City and its southern suburb has come down to mere 15 minutes; faster than it takes to travel within Gurugram! As a result, Sohna is seeing a heightened demand for real estate.

Apart from this, Sohna is an entry point of the 1350-km long Mumbai-Delhi Expressway. The government’s other game-changing industry and infrastructure developments like 1500 acres IMT (Industrial Model Township), Kundali-Manesar-Palwal (KMP) Expressway, dedicated freight corridor, Orbital Rail Corridor, easy access to the proposed Jewar International Airport, and operational IGI airport among others make Sohna accessible to various economic hubs, optimize the movement of goods & people, boost economic growth and propel it as a pivot town of all economic activities.

The government’s industrial push has seen several companies lining up to set up units in the 1500 acres IMT, abutting on Gurgaon-Alwar road & KMP Expressway. The government will also develop 500 acres as an electronics manufacturing cluster in IMT. Sohna is also emerging as a favourable destination for warehousing and logistics. As a result, real estate activities are on an upswing. Prominent developers are undertaking new-age developments that provide holistic living and lifestyle in the lap of nature. This has led to not just an increase in demand for homes but also a consistent rise in habitation. According to Anarock, the Sohna real estate market has seen significant growth since 2013 and delivered over 30,000 units up to the third quarter of 2021.

Commenting on the region, Amarjit Bakshi, CMD, Central Park, said, “Sohna is developing faster than anticipated. The town possesses an intrinsic demand which will go up further with growth in industries and jobs. The reduction in travel time and change in preference towards a good quality of life, close-to-nature living, indulgence in lifestyle amenities, and best-in-class hospitality are resonating with homebuyers. Luxury floors and villas have emerged as a preferred asset class to live and invest.”

Central Park Flower Valley is an integrated township spread across approx. 250 acres, and currently houses 350 plus families. By the end of this fiscal, this number is expected to swell further to over 1000 families as delivery in the group housing project is lined up. It is a completely walled township with a vast swathe of greens, a multi-tier security system, and operational amenities like a horse stable, basketball, lawn tennis, and volleyball courts, indoor badminton court, football ground, cricket stadium, golf putting & chipping greens, indoor gymnasium, grocery store, clinic, laundry, café and bakery, restaurant, school, pet park, kids’ play area, jogging track, flora fountain, among others. The company will launch premium luxury independent floors by the end of this month based on the concept of a fruit valley.

Arvind Rai, Director – Valuation Services, Colliers, said, “The operationalization of the Dausa stretch of the Mumbai-Delhi Expressway this month and the complete expressway, later on, will be a major landmark in India’s infrastructural endeavours. Besides reducing the commute time, easy access to economic hubs along the expressway, and new developments in housing, offices, retail, and warehousing & logistics will completely change the socio-economic landscape of Sohna, a town south of Gurugram where the expressway starts.”

With cities witnessing a rise in air & noise pollution, traffic congestion, and higher commute time for work and entertainment, homebuyers are gradually moving away from the city hustle to a quieter and more serene location. This has positioned Sohna as the most sought-after destination that is replete with not just lifestyle-fused developments and adequate social infrastructure but also easy access and close-to-nature low-density living.

Several auto ancillary industries and warehouses currently operate in the region and as IMT Sohna shapes up and industries move to this industrial town, demand for real estate will see a manifold rise. In the last five years, property prices in Central Park Flower Valley, a prominent developer in the region, have seen a 2.5-4 times rise.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India), Ltd, said, “Improved connectivity is a catalyst for regional prosperity. With the upcoming Sohna-Dausa stretch of DMIC, Gurugram, its micro markets will experience multiple benefits, especially Sohna, an emerging realty hub in the Millennium city. Improved connectivity and transportation links to other cities will make the region attractive for various economic endeavours. It will encourage businesses to set up offices and factories, creating more job opportunities and attracting job seekers and the working population to migrate to the area, thus boosting the demand for residential properties.”

“Because of the vast and comprehensive advancements in infrastructure and industry within the area, Sohna remains a prime focus for investment by real estate developers, homebuyers, and investors. The development of this expressway represents a significant milestone for the region, and we believe it will bring considerable benefits to the local economy,” he added.

Signature Global has multiple projects in the Sohna region and is highly optimistic about the forthcoming Sohna-Dausa Expressway. Signature Global has a vast range of independent floor projects, which are Signature Global Park series projects like 1,2,3,4,5, and most of the projects have witnessed huge customer responses, according to the company.

With better connectivity and a rise in industrial activities, more employment opportunities are being created and the region has started to undergo a socioeconomic transformation.

Source : FE

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