The stretch of the Delhi-Mumbai Expressway between Sohna and Dausa has been recently opened, lowering travel time from Delhi to Jaipur, while also boosting the NCR real estate market in these corridors. Better infrastructure and connectivity is expected to enhance overall warehousing, industrial growth, and logistics, thereby generating sizable demand in the retail, residential, and commercial real estate segments as per industry experts.
Market watchers confirm an increase of 60-70% in land rates across locations on the Gurugram-Sohna-Dausa corridor. The price growth is even more for major projects by leading developers like Signature Global, Central Park, and Godrej. The rates of properties have touched Rs. 1, 40,000-1, 60,000 per square yard currently as per reports. Sohna is fast becoming one of the biggest realty hubs in the NCR owing to connectivity improvements as per experts, with projects of leading builders retailing for as much as Rs. 15,000 per square foot or more. Developers feel that along with the Mumbai-Delhi Expressway, other projects like the freight corridor, KMP Expressway, Gurugram-Sohna Expressway, Orbital Rail Corridor, links to the upcoming Jewar Airport, and better access to the IGI Airport will propel Sohna into the limelight.
Several areas in Gujarat and Maharashtra are also set to witness a major boost in terms of property price appreciation and higher demand for industrial, warehousing, residential, retail, and commercial real estate. The Expressway will enhance property markets in Surat, Ahmedabad, and Vadodara in Gujarat while enhancing economic activities in towns like Limkheda, Dahod, Bharuch, Panchmahal, and Valsad according to the national sales head at Square Yards, Rahul Purohit. He also feels that the project will lead to the development of logistical parks, residential projects, commercial hubs, and townships, while the expansion of the expressway till JNPT will complement the Mumbai Trans Harbour Link and port development projects.
Areas like Dholera, Dadri, Neemrana, and Shendre-Bidkin are already witnessing sizable industrial and economic progress with several exit points along the expressway to benefit these towns. Warehousing and logistics will benefit first along with industrial and manufacturing sectors. Thereafter, with sufficient job creation in these categories, the real estate segment will naturally benefit.
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Published Date: Feb 14, 2023
