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Experts say Dwarka Expressway will become one of the hottest real estate market of the NCR as connectivity is a key factor in the success of any locality.

Construction of the Dwarka Expressway project is on full swing and its expected to be completed within 6 months. More than 35,000 homes with an approximate sale value of more then Rs 8,000 crores are under-construction along different sectors of Dwarka-Gurgaon Expressway. Out of this, around 30,000 homes will be ready for possession in the next 1 and a half year.

    Dwarka-Gurgaon Expressway is now registering a huge property development with developers taking advantage of the planned infrastructural development in and around the developing sectors along this stretch.

    Due to its close proximity to the Indira Gandhi International Airport, the Delhi Aerocity Metro station, and the upcoming Diplomatic Enclave in Dwarka, the Dwarka Expressway area is expected to follow the same growth cycle as premium Gurgaon locations like Golf Course Extension Road and NH-8 area. With the increasing number of MNC corporates operating out of Gurgaon, alongwith the very limited availability of middle segment residences in Gurgaon and Delhi, Dwarka Expressway is emerging as an very attractive alternative for investors as well as end users.

    A number of top realty players like Godrej Properties, Tata Housing, BPTP, Raheja Developers, Ansal Housing, ATS, Vatika, Puri Construction, CHD Developers, Assotech Ltd, Adani, Sobha Developers, Chintels Group, Micortek Infrasturctures Pvt Ltd, Spaze, Satya Group, Paras, etc, are developing projects along this stretch of Dwarka Expressway.

Why Dwarka Gurgaon Expressway

    The completion of Dwarka-Gurgaon Expressway will definitely give a huge boost to the prospects of the realty sector in this area, as properties that come up near highways or expressways get a tremendous response from investors. We hope that the Dwarka Expressway will be completed on time as developers plan projects according to a specified time schedule and delivering them to the customers should be their top priority. They are also putting tremendous effort in developing infrastructure in and around the complexes and townships.

    Dwarka Expressway is one of the most important road in the region. Work on the project is on at a fast pace in the last 1 year. The completion has been delayed due to court hearings on some pieces of land. Other than those land parcels, a six-eight lane black-top road has been built. It is also true that delay in completion has caused problems for customers and developers, as the promised connectivity is yet to come up.

    Work on and near Dwarka Expressway is moving in the right direction. Like any other big-ticket infrastructure project, it also faced some delays, but thanks to the efforts of all the stakeholders, it has picked up momentum lately. In the near future, property market around Dwarka Expressway or New Gurgaon will become premium destinations.

Realty projects and the future growth

    Chintels Group has 500 acres of land bank on Dwarka Expressway. The group plans to systematically develop the area by building townships, IT park, group-housing projects, retail, commercial, and hospitality projects, and a professional campus. They have named this Chintels Metropolis; this 153 acre umbrella development has projects like International City by Sobha Developers and Chintels Paradiso, a group-housing project on 12.3 acres in Sector 106, 108, and 109. Puri Constructions is developing 2 high-end luxurious projects, Diplomatic Greens and Emerald Bay, in Sector 104 and Sectors 110-111, respectively. Diplomatic Greens is a 20 acre residential, gated property that's part of an 82 acre master plan of mixed development inclusive of retail, hospitality, and commercial spaces. The property's upscale units comprise 15% ground coverage with up to 85% being green landscaped area.

Diplomatic Greens is an iconic property on Dwarka Expressway. This stretch at a width of 150 metres is double the width of NH-8. This will make commuting between South Delhi and Gurgaon a whole lot easier. The Northern Peripheral Road (NPR) starts from Dwarka connecting the new growth centers of Delhi, Gurgaon, and Palam Vihar, while joining NH-8 near Kherki Dhaula, it is developing as a hot real estate hub and will offer luxurious, high-end as well as middle-class housing."

    ATS Group has ATS Kocoon and ATS Tourmaline in Sector 109. The group launched ATS Marigold in Sector 89A, which offers 2-, 3- and 4BHK luxury apartments with a floor area of nearly 1,700-2,500 sq ft. ATS Tourmaline offers 3 and 4BHK Apartments of 1,800-2600 sq ft.

    The new residential projects are highly affordable and have been meticulously designed in well-planned developing sectors along Dwarka Expressway. NPR has become one of the hottest realty spot for real estate development.

    Raheja Group has 3 group housing projects, Raheja Shilas, Raheja Vedaanta and Raheja Atharva in Sector 109; these projects offer 3  and 4 BHK luxury apartments in different sizes. Assotech Ltd is developing an ultra luxurious villas and group housing project, Assotech Blith, in Sector 99 on Dwarka-Gurgaon Expressway. Satya Group has The Hermitage, a residential group housing project, located in Sector 103 on Dwarka Expressway. Hermitage is over 10.2 acres and caters to the luxury segment; its major USP is connectivity.

The expected Return on Investment

    Residential property of Dwarka Expressway, especially in areas like Sectors 103-106, 109 to 113, is estimated to appreciate by 108% over the next 5 years. Nearly 18,649 residential units were launched along here since 2007.

    Fast connectivity and proximity to the proposed Diplomatic Enclave coming up in Dwarka will significantly benefit Dwarka Expressway, placing it very high on the investment-return scale. Projects that were quoting at Rs 2,500 per sq ft in 2010 are quoting at Rs 5,000 to 7,500 per sq ft now, for multistory residential units. NRIs are showing interest in this area owing to the handsome appreciation of property here, especially in property projects in developing areas like Sectors 99, 99A, 104, 106, 108, 109, 110, 111, etc along Dwarka-Gurgaon Expressway. This area has also emerged as a prominent destination for IT-ITeS outsourcing and off-shoring hubs with 22.3 million sq ft of new office supply expected by 2017 and about 48 million sq ft of office space stock to be added during 2012-2017.

More details of Dwarka Expressway

    Dwarka-Gurgaon Expressway is also known as NPR ( Northern Peripheral Road ), it is a project of the HUDA the Haryana Urban Development Authority. This is expected to ease the huge traffic rush on the currently operational Delhi-Gurgaon Expressway (Delhi-Jaipur Highway). Out of the total 18km length, laying of roads of nearly 13km-length has been completed.

    Dwarka Expressway is the state government's widest expressway project at 150 meters, it connects NH-8 at Kherki Daula to Dwarka. It is expected that the project will be completed at very fast pace as 600 acres from a total of 630 acres earmarked for the project have already been acquired.

    The problem of high-tension power lines was also sorted out between Huda and the power company with all the high tension power lines being shifted underground. Now HUDA is concentrating on legal issues and most of these have been resolved and the work of removal of illegal structures is currently going on at different sites.

    Traditionally, major road projects were the prerogative of the government; however, the developers (under the umbrella of CREDAI, NCR) working on NPR have joined hands with the government authorities, and the results are telling. There has been tremendous progress on this road from Delhi till NH-8. People who have invested in real estate projects on this stretch can now rest easy, as the road is now a certainty, and it will change the market scenario of this region to a great extent. Government authorities have already started feasibility reports for 4 new flyovers, which have been planned at the intersections of the Pataudi Road near Sector 88, Farrukhnagar Road near Sectors 100 and 101, Daulatabad Road near Sectors 104 and 105, and another road crossing Dwarka Expressway near Sectors 110A and 111 at Bazgera. HUDA will get this report within a month.

FINAL BITES

    WITH ITS CLOSE PROXIMITY TO THE IGI AIRPORT, THE DELHI AEROCITY METRO STATION, AND THE UPCOMING DIPLOMATIC ENCLAVE IN DWARKA, THE DWARKA-GURGAON EXPRESSWAY AREA IS EXPECTED TO FOLLOW THE SAME GROWTH CURVE AS PREMIUM GURGAON LOCATIONS LIKE GOLF COURSE EXTENSION ROAD AND NH-8. WE SUGGEST YOU TO BUY YOUR PROPERTY AS SOON AS POSSIBLE.

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