In Gurgaon, Sohna Road has been emerging as the next real estate destination and it is witnessing huge demand and the supply of residential spaces is keeping pace. Increasing number of transactions to take place here is the proof of that. On either side, Sohna Road has been witnessing different elements of real estate, i.e. residential apartments, commercial spaces, IT parks, villas and retail spaces. Over the years, it has become the real estate hub of the city. For commercial and residential development, land parcels have been available. Due to this development, it has seen a surge in high property prices and demand on Sohna Road.
Several doors have been opened for realty developments on the city with the Master Plan 2021. The area is enjoying higher development in real estate when 30 to 35 sectors are enjoying approval. The prices of real estate have seen a great appreciation on over 50% in both commercial and residential segments. For investors, it has become the most appreciated destination. In this area, the residential plots have been priced around Rs. 70000 to Rs. 80000 sq. yards and the apartments are ranging around Rs. 6000 to Rs. 9000 per sq. ft. The commercial projects are priced around Rs. 12000/sq. ft. and IT parks are ranging from Rs. 5500 to Rs. 6000 per sq. ft.
Improving infrastructure and improved connectivity options are some significant causes for increasing demand of real estate. The growth here is not enough to keep pace. NH8 has less scope for development and Old Gurgaon has been saturated. Sohna Road is another place where raw land is showing the growth of real estate, after NH8. Sohna Road is planned to expand by 6 lanes which will enjoy more connectivity options to NH8 and it is going to become another residential address. The employment generation is the major driver of increasing demand of real estate in Gurgaon. The well-paid professionals will definitely see the great influx in Gurgaon year after year. It will be translated with great demand for real estate in major areas. In short, Gurgaon-Sohna Road will be the next residential hub for home-seekers.
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