Dwarka Expressway – NCR’s next-best destination after Gurgaon

With realty rates in Gurgaon and other NCR areas already having peaked, Dwarka Expressway is an excellent option for end-users and investors seeking to buy flats that come bundled with all amenities as well as the chance of good appreciation in future.

During the past year, the real estate market in the National Capital Region has stabilized. Although there have been few new launches, what is gratifying from the end-users’ point of view is that prices have not risen during this period. Yet, as the saying goes, ‘There is always a lull before the storm’. While prices have held even as new launches were minimal vis-à-vis past years, prospective flat buyers should note that this may be the best time to buy their dream homes.

In particular, people seeking homes in the mid-segment and premium category will be well-advised to consider Dwarka Expressway, which is rising swiftly as the best destination in the NCR due to its proximity to Gurgaon and Delhi as well as the fact that the rates are still affordable.

Initially, the investment in this area was mainly witnessed from investors who were looking to garner profit through the resale of projects. Since last year with Government taking speed to clear the hurdles from Dwarka Expressway, and with the boost of infrastructure, end-users have started buying their dream house in this region.

This stretch promises a lot for customers who are looking for an affordable house. Many developers are coming up with projects on this stretch to meet the burgeoning demand of the middle-class buyers. The best thing about this location is the buyers have a banquet of options to choose as per their pocket convenience. Over the last 5 years, this hot bed has seen a price appreciation of 206%. In fact, Ramprastha Group has half-a-dozen projects on this stretch of Dwarka Expressway.

Unlike other areas in Delhi-NCR, rates on Dwarka Expressway have not peaked, primarily because the 18-km Dwarka Expressway has still not been completed. But with only the last few kilometres of the 8-lane, 150-metre-wide Expressway left for completion, the unfinished portion is actually a blessing in disguise for home buyers because it has anchored the rates.

As the Expressway is slated to be completed by the end of 2015, however, buyers cannot afford to be complacent and hold back bookings for much longer because further delays limit the chances of booking a choice unit, besides running the risk of higher prices. Moreover, with the rates still being affordable, the percentage of appreciation is bound to be much higher for people booking now.

Given the above scenario, prices are clearly bound to rise once the Expressway is completed. Those who missed buying their dream homes on Dwarka Expressway earlier should do so now because once rates rise, their dream home may continue to remain a distant dream.

Nikhil Jain, COO, Ramprastha Group

The views expressed in this article are author´s own