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Private Sector | Haryana - India | PID: 203580
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Sohna, a micro-market in Gurugram, has seen a significant increase in residential supply post-pandemic, becoming the third-largest market in the city, following Dwarka Expressway and New Gurgaon. This growth is driven by enhanced infrastructure and active developer participation. Since 2020, new supply in Sohna has exceeded the cumulative total from the previous decade (2010–2020), resulting in an inventory with an average age of under four years. The market is primarily composed of 2BHK units, making up 65% of the supply, followed by 3BHK units at 26%.
Initially known for its affordable housing segment, supported by initiatives like the Deen Dayal Jan Awas Yojna, Sohna has recently seen a shift towards mid-to-high-end properties. This shift aligns with broader trends in Gurugram, where developers focus on premium segments to meet changing buyer preferences. Properties priced above ?1 crore now account for 34% of new supply, more than doubling from 15% in 2019.
Rajat Likhyani, Principal Partner, Square Yards said, “The strategic infrastructure and connectivity projects, such as the elevated corridor and the DMIC, have put the Sohna micro-market on the radar of both developers and homebuyers in Gurugram. Several leading developers have strategically positioned themselves, securing land parcels and actively rolling out new launches across on-going and new projects. The response from homebuyers has been equally robust, matching the increasing supply. At Square Yards, we are observing sustained growth in buyer interest in Sohna across all segments—apartments, independent floors, and plots. This rising demand has, in turn, driven property prices into double-digit growth territory. We view this as the early phase of Sohna’s long-term growth narrative, with the micro-market presenting substantial opportunities for end-users, investors and developers alike.”
| Updated on: 30 - Oct - 2024
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