Tuesday, 3 November 2015

Dwarka Expressway: Realty hotspot in NCR

The area along Dwarka Expressway is part of New Gurgaon, which is being developed in a planned manner and with better infrastructure. Plans are also afoot to bring a Metro line to this area which will further improve its connectivity with other areas.

Sanjeev Sinha writes, "Spurred by affordable property prices, proximity to Delhi, Gurgaon, and the international airport as well as infrastructural advantages, the Dwarka Expressway area has not only emerged as a hotspot in the Delhi NCR region but has also become a favorite destination for property buyers in recent years."

The stretch has been planned as an alternate link road between Delhi and Gurgaon, and is expected to ease the traffic situation on the Delhi - Gurgaon Expressway. Thus, a road of this width is expected to cater to the burgeoning traffic for the next 30-40 years.

Moreover, the area along Dwarka Expressway is part of New Gurgaon, which is being developed in a planned manner and with better infrastructure. Plans are also afoot to bring a Metro line to this area which will further improve its connectivity with other areas. "Infrastructure development, roads, and connectivity are poised for accelerated growth around Dwarka Expressway, which is today widely acknowledged as one of the most promising and fastest-developing real estate destinations in the NCR region. The area around this high-speed link road is all set to evolve into what could well be described as a modern, model city, with fast track connectivity to IGI air port and Gurgaon's busiest business and commercial districts," says Smeeta Neogi, vice-president (marketing) of Mahindra Lifespace Developers Ltd.

Dwarka Expressway also boasts of some of the best names in the forthcoming social infrastructure like schools, multiplexes, hospitals, and hotels with some of the renowned developers in the country like Tata Housing, Raheja Developer, M3M Group, Homestead Infrastructure, Mahindra Lifespaces, Godrej Properties, Puri Constructions, among others, having projects in this area.

However, despite the presence of realty majors and the availability of good projects, property prices are still affordable, which makes it a good case for investment. "With early investments having shown excellent growth, Dwarka Expressway represents a serious investment opportunity and is one of the more affordable, new micro markets in Gurgaon," says Gautam Sethi, MD of AMB Group, which is developing a mixed-use project in this market.

Along with affordable options, realtors are also developing luxury housing projects to suit the taste of HNIs. In fact, the biggest attraction of this stretch is the pricing, as it offers property options suitable for all pockets, with the prices varying from Rs 5,000 to Rs 13,000 per sq ft.

Santhosh Kumar, CEO (operations & international director) of JLL India, says: "Dwarka Expressway and New Gurgaon both offer multiple options with relatively lower price points and projects under advanced stages of construction. However, patience is needed as the time for quick-fire returns in these destinations is over, and only a long-investment horizon will create returns for investors."

Whatever be the case, realty developers seem quite upbeat over the current status as well as the future growth prospects of this pocket. Rajesh K Gouri, VP of Homestead Infrastructure Development Pvt Ltd, says: "Due to its proximity to Delhi and Gurgaon, Dwarka Expressway is expected to register the same growth trajectory which Golf Course Road and Golf Course Extension Road witnessed. In fact, the entire stretch of Dwarka Expressway has become one of the most sought-after areas for the investor community."

Source: PropertyatNeoDevelopers.Wordpress.Com

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