Dwarka Expressway en route to become a realty hub
Dwarka Expressway
The Northern Peripherial Road or Dwarka Expressway is being developed under the public private partnership model. It will connect Dwarka with National Highway 8 at Kherki Dhaula and will pass Pataudi Road. The expressway is expected to ease the traffic on Delhi-Gurgaon route, providing much respite to commuters travelling from Delhi to Gurgaon and Manesar.
The Dwarka Expressway has brought in the signs of becoming the next real estate destination in Delhi NCR area. The 18 km long stretch has offered potential to become a realty hub and real estate as developers have been on their toes to cash on the demand generated around the area.
Road connectivity
Road connectivity always acts as a stimulant for real estate growth and infrastructural development surrounding Dwarka Expressway has put it in a spot to become the contender for next destination for realty growth in North India. Its proximity to Delhi and connectivity with Gurgaon and Manesar are the reasons behind the perceived potential. It will provide faster access to the airport and connect close to the 100-meter-wide road proposed in the new master plan. Furthermore, it will enhance the connectivity of the surrounding areas to the metro corridor and will touch Delhi near Dwarka Phase II, where a new diplomatic enclave is being developed.
Realty potential
The excellent connectivity has attracted both end users and investors to the area. Commuters prefer projects located on expressways, as they provide good connectivity to work places which are usually in the nearby areas. The Expressway is termed as the lifeline for people living in Dwarka and working in Gurgaon.
The investment value of residential properties along the Dwarka Expressway is estimated to be very high. Various residential options are available along the Expressway at a price lesser than most places in Gurgaon. The residential prices have witnessed a rapid rise over a short period of time. Prices in the area have almost tripled – from Rs 2,250 per sq ft to Rs 6,250 per sq ft.
Commercial development has announced its arrival in the area. It has been rechristened `New Gurgaon` owing to the booming IT/ITES sectors, corporate offices, shopping malls, markets etc in the area.
Analysts say that the sectors along Dwarka Expressway are going to be well planned, premium, contemporary urban area. As and when they will be completed as per the Gurgaon Master Plan-2021, these areas will become posh localities offering a luxury lifestyle quotient to the residents.
Sectors near the expressway are Sectors 99-113 , 83 and 84. As per the Master Plan, there will be a commercial belt touching Sectors 105, 106, 109, 110, 110A, 111, 112 and 113 with Sectors 100 and 101 being used for public utilities and Sectors 114 and 88 are being used for fully commercial purposes.
Real Estate scene
Sensing the immense potential, top realty players like Chintels India Ltd, Sobha Developers, BPTP, Puri Construction, ATS, Antriksh, Rahejas, MGF EMAAR, Bestech, Uppal Housing, Indiabulls, Brisk, Mahindra Earth Infrastructure, etc, have launched their projects i the area.
Chintels India Ltd has launched Chintels Metropolis, a township spreading over 400 acres of prime land in the new sector of Gurgaon. They have also launched Chintels Paradiso, a group housing project over 12.3 acres in Sectors 106, 108 and 109 in New Gurgaon which will home 500 apartments.
Likewise, Shobha Developers are developing International City, a part of Chintels Metropolis, which will shelter 850 villas, offering a luxurious living experience in the National Capital Region (NCR). Raheja Group has launched three projects – Raheja Atharva, Raheja Vedas and Raheja Vedanta on the Dwarka-Gurgaon Expressway. India Bulls, who had begged the contract for developing the Expressway, has come up with Enigma – an exclusive luxury residential suit.
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