Dwarka Expressway: A Fast Emerging Real Estate Market of Delhi NCR

Dwarka Expressway: A Fast Emerging Real Estate Market of Delhi NCR

Dwarka Expressway: A Fast Emerging Real Estate Market of Delhi NCR

Comments Off on Dwarka Expressway: A Fast Emerging Real Estate Market of Delhi NCR

Published on: Aug 1, 2015 @ 13:31

Dwarka Expressway  has  emerged  as  lucrative  housing  market  and  poised  for  stupendous growth. The  area  is also  called  the  Dwarka-Gurgaon  Expressway  and  emerging  as a promising real  estate  market  for  home buyers and  investors  in  the  National  Capital Region (NCR). It  is also  called  the  Northern  Peripheral Expressway,  and would  be  an  alternative route  from  Delhi to  Gurgaon.

The  Dwarka  expressway,  being  developed  by  Haryana  Urban  Development  Authority (HUDA),  extends  to about  18 km  with  nearly  about  14 km  has  been  completed.  It  would  be an  eight-lane  expressway  and connect Dwarka  to  NH-8  and  will  have  30 meters  of  green  belt on  both  sides.  This  expressway  is  expected to  be  one of  India’s  widest  roads  ever,  at  150 meters.  The  current  Delhi-Gurgaon  expressway  is  75 meters wide.

The  development  of  this  stretch  is  expected  to  reduce  the  travel  time  between  Delhi  and Haryana.  Also,  the expressway  will  touch  16  new  nearby  residential  colonies  and  a commercial  corridor  in  the  region.
Dwarka  Expressway  is  located  in  close  proximity  to  the  IGI  International  Airport  and  Palam Domestic Airport  and  would  be  accessible  within  a  few  minutes  drive.  It  is  also  close  to the 18-hole  golf  course proposed  in  Dwarka  by  the  Delhi  Development  Authority.  The  area  is close  to  the  proposed  Diplomatic Enclave  with  39  embassies,  which  is  being  developed  in Dwarka.

A  part  of  stretch  in  the  18 km  long  expressway  was  under  litigation  for  the  last  few  years as  residents  had moved  court  and  secured  a  stay  order.  The  recent  judgment  by  Punjab  and Haryana  High Court  on  this issue  has  cleared  the  roadblock  stalling  construction  of  the road. A  major   hurdle  in  completion  of  the Northern  Peripheral  Expressway,  between  Gurgaon and  Dwarka  in  Delhi,  has  been  removed.  It  has  brought relief  and  joy to  investors, developers  and  thousands  of  home buyers  of  nearly 40,000  housing  units  in  the region.  And now  the  region  is  all  set  to  witness  speedy  completion  of  the  remaining  portion  of  the projects.

Dwarka  Expressway  will  have  adequate  infrastructure  and  facilities  such  as  schools, shopping centres, hospitals,  hotels,  recreational  and  entertainment  zones  etc.  Delhi  Public  School  is opening  in  Sector  84  and Sector  102A.  Modern  School  is  starting  a  school  in  Sector  91 with  a  17  acre  campus.  One  of  PVR’s  biggest multiplexes  is  coming  up  in  Sector  84  in  the area.

The  internal  roads  being  planned  in  this  area  are  expected  to  be  60-75  metres  wide. Also, the  sewage  and electricity  distribution  systems  are  likely  to  be  better  and  more  modern.The roads  would  be  90  meters  in Dwarka  Phase  II  and  60  meters  in  new   sectors  along  the Dwarka expressway,  relieving  hassles  of  traffic congestion.

As  a  part  of  development  plan, the  metro  line  has  been  proposed  along  the  Northern Peripheral  Road, which will  connect  Dwarka  Sector 21  and  National  Highway-8  at  Kherki Dhaula  Village. Haryana  Government  is constructing  a  162  acre  metro  hub  at  Kherki  Daula, along  with  a  Inter  State  Bus  Terminal.

The  quality  of  the  projects  coming  up  on  Dwarka  Expressway  is  much  better  than  the  high priced  group housing  societies  in  Dwarka.  The  location  carries  good  long-term  potential  and offer  a  good  investment opportunities.

The  current  rates  of  the  residential  apartments  of  reputed  developers  ranging  between  Rs. 5500/- per sq  ft  to Rs. 13000/- per sq ft  depending  on  the  location,  projects,  amenities, specifications,  availability  and  other variables.  The  mid  segment  and  luxury  projects  are  in plenty,  the  availability  of  both  these  segments  is  not very  high.

Many  real  estate  players  with  their  projects,  including  Tata  Housing,  Raheja  Group,  Godrej Properties,  Tulip, Ramprastha  Group  with  a  500  acre  township,  Chintels,  BPTP,  CHD  and M3M,  have  their  presence  in  this area.
There  are  about  72  upcoming  group  housing  projects,  in  the  Dwarka  Expressway  region. Most  of  them  have been  launched  and  are  under  construction  stage.  The  projects  launched in this  region  are  spread  along  the proposed  alignment  of  highway,  thus  the  possession  in projects  is  largely  dependent  on  the  early  completion of  the  highway.  The  developers  are promising  possession  by  2015-2017.

In  the  last  five  years,  this  market  has  seen  price  appreciation.  Finally,  if  everything  goes well,  Dwarka Expressway  will  definitely  be  a  good  place  to  stay  in  the  years  to  come. With the  large  number  of  corporate operating  in  Gurgaon  area  and  with  limited  availability  of mid segment  residences  in  Gurgaon  and  Delhi, Dwarka  expressway  will  emerge  out  as  an attractive  alternative  for  both  the  home buyers  and  investors.

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