Are Dwarka Expressway and Sohna Road new heart of NCR realty? Experts weigh in

NCR real estate: The real estate market in Gurugram, often referred to as the Millennium City and a prominent IT hub, continues to attract notable investment. Gurugram and Noida have become key locations within the Delhi-NCR region, driving growth in the real estate sector, say experts in the sector, say experts.

In the first half of 2024, approximately 32,200 housing units were sold in Delhi-NCR. Of these, over 45 per cent were in the luxury segment, with 24 per cent in the affordable segment, according to a report by property consultancy ANAROCK.

This represents a stark contrast to 2019, when luxury units comprised only 3 per cent of sales, while affordable units made up 49 per cent.

Amongst the most sought-after areas in Gurugram are Dwarka Expressway and Sohna Road, which have gained prominence as real estate hotspots.

Post-COVID Property Focus

In the past five years, the property market in Delhi-NCR has shifted considerably, particularly post-COVID, as homebuyers now prioritise properties that offer modern amenities and green spaces for a better lifestyle.

Developers have responded to these changing preferences by offering projects that cater to the demands for sustainable and comfortable living. As a result, areas like South Gurugram and Dwarka Expressway have become increasingly popular among both buyers and investors.

Pradeep Aggarwal, Founder & Chairman of Signature Global (India) Ltd, highlighted the seamless connectivity provided by the Gurugram-Sohna elevated road, making it a considerable choice for end users and investors alike.

He also said the rapid transformation of South Gurugram and Dwarka Expressway into thriving suburbs, benefited from their proximity to the Delhi-Mumbai Expressway and major commercial hubs like Cyber City and Golf Course Road.

"The increased preference for green spaces, which promote social cohesion and well-being, has led developers and urban planners to focus on creating communities that prioritise a healthier lifestyle. As a result, middle-class buyers are increasingly looking at low-rise floors and investing in the South Gurugram region," Aggarwal said.

Pankaj Pal, Managing Director of Whiteland Corporation, described the Dwarka Expressway as one of the most dynamic real estate corridors in the NCR, with luxury residences witnessing a significant 30 per cent annual price appreciation. He attributed this growth to the expressway’s strategic location and connectivity to key commercial areas in Gurugram.

Development along Dwarka Expressway

The 29-kilometer Dwarka Expressway, also known as the Northern Peripheral Road, connects Dwarka in Delhi with Gurugram in Haryana.

It's positioning, combined with direct access to the Indira Gandhi International Airport and the Delhi-Mumbai Expressway, has fuelled property development along the corridor. Both commercial and residential projects have expanded rapidly in this area, making it a preferred destination for homebuyers and investors.

The expressway, built at a cost of Rs 9,000 crore, is being completed in four phases, two in Delhi and two in Gurugram. As development continues, the region is expected to experience further growth, enhancing its appeal and value, say experts.

Madhur Gupta, CEO of Hero Realty Pvt Ltd., pointed out the 79 per cent price surge in the Dwarka Expressway over the last five years.

Sohna Road's real estate potential

Sohna Road in Gurugram has also emerged as one of the key areas for real estate developers, especially due to its proximity to the Delhi-Mumbai Expressway and the six-lane elevated Gurugram-Sohna Corridor (NH-248A). The region offers easy access to Gurugram’s major commercial and retail hubs, along with key facilities like schools, hospitals, and shopping centres.

Realty developers like Signature Global are planning to launch a 130-acre project in Sohna this year, targeting the middle-income group. The project will feature low-rise floors, retail spaces, and plots for industrial or mixed-use purposes.

Rohit Mohan, Senior Vice President at BPTP, echoed the sentiment, saying Gurugram stands as the top location for premium residential markets in NCR.

"Both Dwarka Expressway and Sohna Road remain the top choices for homebuyers, offering a mix of luxury and affordable housing options," he added.