The new development will escalate prices in Sohna now and in the rest of Gurugram in future.
It is boom time for Gurugram real estate. The inauguration of the Mumbai-Delhi expressway has started showing its impact on real estate in Sohna, a realty hub on the fringes of Gurugram. The demand for property in the area is likely to trickle over to the rest of the region, predict realtors.
The 246 km Delhi – Dausa – Lalsot section of the Delhi Mumbai Expressway has been developed at a cost of more than Rs 12,150 crore. With a length of 1,386 km, this is expected to be India’s longest expressway. This will reduce the travel distance between Delhi and Mumbai from 1,424 km to 1,242 km and the travel time will be reduced by 50 percent from 24 hours to 12 hours.
The expressway is likely to have a multiplier effect on real estate. “Sohna has been the core hub of both residential and commercial development for some time now. The new expressway will unlock the full potential of the region and trigger a spurt in real estate developments and create Sohna as a multi-utility residential corridor. It will bring tangible growth by providing a solid blueprint for developing housing projects, townships, and business hubs. While easing congestion and providing easy connectivity with nearby states, the region will witness a surge in housing demand and price appreciation of existing and upcoming residential projects.
Gurugram realty prices to grow overall
While Sohna is at the centre of attention because of the launch of the new expressway, in the long term, it is likely to impact the prices of the entire Gurugram realty. “Realty in the vicinity of the Sohna-Dausa stretch of the Delhi-Mumbai Expressway will benefit the most and there will be a sizeable peak in housing demand due to the seamless infrastructural and road connectivity, premised after the inauguration of Sohna-Dausa stretch.”
High affordability of Sohna property
Sohna’s property prices are much lower as compared with property in other micro-markets in Gurugram. Buyers, especially those with long-term prospects have been investing in Sohna property for its future prospects. “Sohna’s advantage is its strategic location, it is well connected to multiple expressways and various parts of Gurugram and the National Capital Region. This new expressway will further boost its connectivity. Luxury independent floors, plots, and independent houses have emerged as the sought-after property option for home buyers for some time now.”
