With the looks of a city, well developed with the right infrastructure in place, Dwaka is a sub-city of Delhi, locate in South-West. It is more of a residential hub than a locality and falls under the jurisdiction of Delhi Development Authority (DDA).
The locality was named after the ancient kingdom of Indian mythologies, Dwaraka. Far from just a historical area, Dwarka today is flanked on all sides by the Najafgarh road on the north-west, Rewari railway track on the south-west, and the Pankha road on the northeast. Both national and the international airports lie nearby.
The roads in Dwarka are known to be the widest and well developed roads in Delhi. To top it off, the transportation system is excellent as well the traffic congestion in the locality seems like a thing of the past. With these things in place, the locality is on its way to becoming a well planned sub-city, ready to house as many as a million people.
Connectivity and Transit Options
Dwarka is being developed to have the best road network as well as connectivity with other parts of Delhi. While the 60-metre wide Western Approach road connecting Dwarka with the Najafgarh Road has already been constructed, work is in progress for the construction of three more major roads, namely the Northern Approach, the Eastern Approach, and the South-Eastern Approach.
· ISKCON Temple
· Dada Dev Temple
· Radisson Blu Hotel
· ITC Welcomegroup Hotel
· Golden Palms Suites
· Pinnacle Mall
Factors for Growth in the Past
What sets Dwarka apart from other localities in the NCR, is its extensive network of roads. The sub-city of Dwarka boasts of excellent road infrastructure. One of the prime examples of this is the Dwarka Expressway. This expressway has shown a 300 per cent increase in property values in the year 2013. One of the main reasons behind this price hike is its proximity to the international airport and alternative residential destination for Gurgaon working class and get the benefits of the national capital.
The construction and operation of the blue line of the Delhi Metro Rail has contributed to the locality’s growth as well. This 44-km long line, consisting of 44 metro stations in between, connects the Noida city center (Sector 32) with Dwarka Sector 21. This metro rail line has become one of the major modes of public transport for people who want to commute between Noida and Dwarka.
Another important infrastructure project that has improved connectivity of Dwarka is the Pankha Flyover. The Palam Flyover is yet another road infrastructure project in the locality.
Despite being well planned, Dwarka faces a few civic issues.It has a serious water crisis. Sometimes, there are 6 to 7 hour long power shortages in Dwarka during summer and the crime rate is very high in this locality.
Dwarka lies in the catchment area of the two natural drainage systems of the Palam and Najafgarh. Instead of replenishing the river Yamuna, all the storm water is currently going to waste.
Residential Market Analysis
Dwarka has a flourishing real estate market. It was developed as the ideal residential township, after which a number of trusted developers sprung to their feet to launch projects in the area. Today, there are emerging gated communities and residential townships all over Dwarka.
Dwarka Expressway has become, off late, the centre of growth in the region, where the country’s best real estate developers are launching over fifty residential projects.
The average sale price of the multi-storeyed residential apartments in Dwarka is Rs 9000 per sq. ft., and the average rent is Rs 25 per sq. ft.
There are a number of commercial marketplaces in Dwarka. Sector 6 has the maximum number of shops and malls, like Vardhaman Plaza, Pankaj Plaza, Bansal Plaza, Sagar Plaza, and so on. Sectors 10 and 12 also have exhaustive commercial markets.
Factors for Growth in the Future
Dwarka is all set to see some major progress. Delhi Development Authority (DDA) has approved the Land Pooling policy. The Dwarka Expressway will have over 24,000 new housing units from 2013 to 2018.
Despite the slow construction progress of the Dwarka expressway, the real estate market is developing quite rapidly here. Once the construction pace picks up, the Dwarka real estate market is expected to develop further.
Several new proposed infrastructure projects are awaiting approvals. A monorail route from Sector 28 to Sector 1 has been proposed. This monorail route, if approved, will also connect Pankha Road, and can be extended to Delhi Cantonment and Central Delhi in the future.
The construction work for the Dwarka-Najafgarh Metro Corridor has already begun. This project is likely to be completed by the end of December 2016. This corridor will provide easy access to those residing in Najafgarh, Dindarpur Extension, Arjun Park, Shiva Enclave, Raghubir Nagar, and so on. Capital appreciation is likely to occur in these areas.