Friday, 5 February 2016

Neighborhood Watch – Dwarka Expressway

A masterpiece of real estate in the making, Dwarka Expressway finds its place among the most desirable destinations to invest in property in Delhi NCR. It is a 150-metre wide road connecting Delhi and Gurgaon which has opened up massive real estate propositions everywhere around it. Expected to be completed by October 2013, Dwarka Expressway is a highly sought after property hotspot in the National Capital Region.

Let’s gain a deep insight about real estate in Dwarka Expressway:

Connectivity: An alternative to the NH-8, Dwarka Expressway is aimed at offering seamless connectivity between Delhi and Gurgaon. Reducing the congestion at NH-8, Dwarka Expressway will also reduce the travel time to the IGI Airport to half and provide relief to daily commuters between Delhi and Gurgaon who get stuck at NH-8 toll plaza bottleneck. It also comes across as a cheaper option to commute as there are no toll charges on this road.

Property in Dwarka Expressway: An optimal mix of commercial, industrial and residential sectors ensure excellent social infrastructure and increased livability in the area around Dwarka Expressway. Apart from the location benefits, it provides an opportunity to own houses closer to Delhi at more affordable prices.

Almost 90 projects with 47,000 units have already been launched on Dwarka Expressway. The properties in Dwarka Expressway which were launched in late 2008 and early 2009 will be ready to occupy by end of this year. Most of the properties for sale in Dwarka Expressway are high-end ones, offering palatial abodes that come loaded with premium amenities.

Property prices in Dwarka Expressway: Currently, prices of property in Dwarka Expressway range between Rs. 4700 (around sectors close to Gurgaon) and Rs. 14000 (sectors close to Delhi). Prices of property in sectors close to Delhi come at an average of 35% premium over sectors close to Gurgaon, due to the obvious location benefits of being close to Delhi.

The prices have been appreciating since last year (33%), and the last five months of this year have seen steep appreciation especially in sectors close to Gurgaon (about 20%). The sales, however, seem to have slowed down over the last 3 months as an impact of overall economic depression, high prices and reduced exit options for investors.

We are optimistic about property in Dwarka Expressway from a long term perspective, and believe that prices will stabilize this year, but with reduced new launches. The market is also expected to witness renewed interest once the Palam Vihar dispute is resolved and expressway construction reaches closer to its last milestone.

Source: PropertyatNeoDevelopers.Wordpress.Com

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