Sobha Limited is expanding its presence in Gurgaon and starting its third project with a joint development agreement for a 12-acre residential project in Sector 63A. As the area’s demand grows, Sobha intends to develop 9 million square feet of residential space in FY25.
The Golf Course Extension’s upscale infrastructure makes it a major priority. In line with Gurgaon’s rapidly expanding real estate industry, Sobha’s expansion plan is supported by a 28% increase in FY24 sales to INR 6,644 crore.
The Bengaluru-based Sobha Ltd. has taken an action to bolster its position in Gurgaon’s expanding real estate sector. A collaborative development agreement for a new residential project on a 12-acre plot of land in Sector 63A has been inked by the corporation.
Sobha Launched Their Third Project In Gurugram
After successful projects in Sector 99 and Sector 63, this is Sobha’s third project in Gurgaon. The deal, which was recorded on July 12, included a sizable INR 4.3 crore stamp duty payment.
In the fiscal year 2025, Sobha plans to create over 9 million square feet of new residential space as part of its growth efforts. This expansive concept emphasizes the potential of the location, particularly in relation to the Golf Course Extension, as well as the increasing demand for upscale homes in Gurgaon.
Both investors and homeowners are drawn to this area by its upscale living alternatives and well-developed infrastructure. Analysts have observed that the growing end-user demand is the reason Gurgaon’s real estate industry is flourishing.
Sobha Limited Recorded 28% Increase In Sales
CBRE’s MD of Capital Markets and Land, Gaurav Kumar, stressed that the region’s continued infrastructural development is what is driving this spike and why residential developments are drawn to it.
Similarly, top developers and upgraded facilities are driving the fast expansion in the Golf Course Extension region, according to Shalin Raina, MD of Residential Services at Cushman & Wakefield.
Impressive financial statistics for FY24 have been released by Sobha Ltd. Sales for the company reached INR 6,644 crore, up 28% from the previous year. In addition, the firm realized its highest average price per square foot, INR 10,922.
Sobha Intends To Add 9 Million Square Feet Of Residential Space In 2025
As compared to 7 million square feet in the year 2024, Sobha intends to start projects in FY25 that would add 9 million square feet of residential space. Moreover, the business is actively pursuing the development of its residual land bank, which has a potential area of 25–30 million square feet, indicating its ambitious expansion plan in the cutthroat real estate sector.
More broadly, as developers try to keep up with the growing demand for urban homes, the real estate industry is seeing a noticeable surge in land sales. Chintels India recently gave Sobha Group ownership of two property lots close to the Dwarka Expressway, demonstrating the calculated actions taken by different market participants.
Increasing Demand For Residential Buildings In Gurgaon
Another big deal showed how fiercely developers compete to gain good locations: Oberoi Realty paid INR 597 crore to purchase a coveted 14.81-acre land tract in Gurugram. The increasing demand for residential buildings in Gurgaon points to a bright future for businesses like Sobha Ltd.
Sobha is in a good position to profit from the current trends in the real estate industry because to its smart joint ventures and continual investment in desirable areas. It would be interesting to watch how projects in Gurgaon and the neighboring areas play out as the market changes and how they represent the dynamics of India’s urban housing boom.
Source-ET
