[kkstarratings]In case of any real estate project, either its residential project or commercial project, connectivity has always been a major factor to act as a pull for the buyers and Investors. If we talk about Delhi/NCR real estate market, properties that have come up near highways or expressways have seen a tremendous response; and it’s not only about Delhi/NCR real estate market, the trend is same all over in Indian Real Estate Market.
With the changing trend of Indian Realty and property buying decisions, the perception of people for buying properties has changed, as people want to live in well planned projects, which have rapid commuting infrastructure. Now a day people want to make investment in properties which are well connected to other areas as well as in terms of distances the projects should be close to metro cities.
Also, it is comparatively easier to attract customers to residential or commercial projects located on expressways, as they provide good connectivity to nearby areas.
This changing investment trend of investors or buyers in real estate has led to the development of many residential and commercial sectors around expressways in Gurgaon. The latest options available here are the areas around Dwarka Expressway also know as Northern Peripheral Road or NPR.
The popularity that NH-8 has gained in case of real estate investment in 1990s, the upcoming Dwarka-Gurgaon Link Expressway is receiving the same better to say more even more attention today. Dwarka Expressway starts from Dwarka and finally joins the NH-8 near Manesar Toll via crossing Bijwasan, New Palam Vihar and Kherki Daula.
There is no doubt that the upcoming much awaited Dwarka Expressway is going to be the lifeline for people who are living in Dwarka and working in Gurgaon. One can easily see that development is taking shape at a very fast pace in this stretch. The Dwarka Expressway is developing as a hub for commercial, residential and entertainment activities and thus is going to be one of the most preferred locations to invest as well as stay in the NCR region, with its proximity to Gurgaon and link to Delhi.
In the current market scenario, buyers, real estate investors as well as renowned real estate developers are jostling to get a fair share of the pie on this stretch. The major reason behind the heightened interest and expectations from this area is nothing but good connectivity, which the Dwarka Expressway promises to provide in near future. There is no doubt that once it is complete, it will provide much faster access to the Indira Gandhi International Airport it connects close to the 100-metre-wide road proposed in the new master plan. No need to say that the areas will also have good connectivity and development with the proposed diplomatic enclave and the current Metro corridor.
The Dwarka expressway will also connect the 100-metre and 80-metre urban express roads under the Delhi Master Plan-2021. So, it’s easily predictable that the areas that will fall in the periphery of Dwarka Expressway will become one of the posh areas and will compete with areas like Shanti Niketan and Vasant Vihar.
In the long run the upcoming Dwarka Expressway will prove to be a boon for real estate in terms of real estate investment, development, growth and return on investment. Also, it will facilitate an overall development of the Gurgaon region in terms of residential and commercial development in the long run. The connectivity via road is of paramount importance along with other infrastructure advancements in any region as it provides a good connectivity. The development of this stretch will reduce the travel time between New Delhi and Gurgaon as well as it will also open up avenues for planned urban and commercial development in this region.
If we go with the Gurgaon Master Plan-2021, this area is on its way to become the new hub of real estate development in New Gurgaon. We can say this as all the activities would be taking place close to these new and better planned sectors which are coming up with various residential and commercial projects in the area.
If we talk about the location of various sectors on Dwarka Expressway then the Sectors close to the expressway are Sectors 99-113, sector 83 and sector 84 Gurgaon. There will be a commercial belt on Expressway touching Sectors 105, 106, 109, 110, 110A, 111, 112 and 113. The sectors 100 and 101 will be used for public utilities and the Sectors 114 and sector 88 are being developed as fully commercial sectors on Dwarka Expressway.
Some other sectors, like Sectors 81-86, 89-93 and 95 are also in advantage because of their connectivity and proximity to the Dwarka Expressway. Sectors 81, 82, 85, 86, 90, 91, 92, 93 and 95 are just around 3km from the expressway or NPR. In case of various real estate developers in these sectors are Emaar MGF in Sectors 107, 102, 103, 99, 82, 84; SARE Green Parc Phase III of Crescent Parc in Sector 92; Sobha Developers in Sector 109, Babupur and Bajghera; BPTP in Sectors 99, 102, 104, 113; Raheja Developers in Sec 109 and village Pawla; Uppal Housing in Sector 99; Mahindra Lifespaces in sector 110A; Puri Construction, Tashee Capital Gateway and Kashish Developers Manor One in Sector 111 Gurgaon; ERA in Sector 103 and 104; Bestech in Sector 81, 82, 92; Vatika in Sector 82, 83; Earth Infrastructures in Sector 112; Chintels and VSR 114 Avenue in Sector 114 with commercial projects on Dwarka Expressway.
In near future the appreciation of property prices will be good near Dwarka expressway area. The land value of the areas adjoining the Dwarka expressway is already being compared to that of in Dwarka, New Delhi. Property prices are going up rapidly in this market. It has shown an increase of Rs 1,500-2,500 per sq ft in the last two years. Starting from Rs 2,800-3,500, prices have now touched Rs. 4,500-6,800 per sq ft. If we talk about the sectors close to Dwarka like Sec 111, 114 on Dwarka expressway, the appreciation is even more. Once NPR is ready, the New Gurgaon and other areas coming up here will be more expensive.
According to Realty experts in this area, the land acquisition for the expressway is nearing completion; also the demolition of some houses in Palam Vihar in litigation and a final verdict is awaited. Sectors on the expressway, like Sectors 110A, 111, 112 and 113, which are near Delhi, are likely to see higher appreciation in the near future. Other major residential sectors near the expressway are Sectors 37D, 83, 84, 88, 99, 100, 101, 102, 102A, 103, 104, 105, 106, 109 and 110. These sectors are being developed as residential and commercial belts or commercial corridors on Dwarka expressway, with the maximum area dedicated for residential development.
The expressway, which is under construction, will join 16 new residential colonies, apart from the commercial corridors and the Hansaru dry port.
The popularity of the area has made the big names of the real estate industry to enter the real estate market on Northern Peripheral Road. Some of the big names are Ramprastha (Edge Towers, Atrium, View, Skyz at Sector 37D), Raheja (Vedas at Sector 108 and Shilas, Srishti , Atharva at Sector 109), Mahindra Lifespaces (Aura at Sector 110A); Tashee-Capital gateway, Kashish-Manor one and Puri Deplomatic Greens in Sec 111, VSR 114 Avenue in Sec 114; Emaar MGF etc. are coming up with a township and commercial projects on the Dwarka expressway.
The Gurgaon Master Plan-2021 has given a boost to the Dwarka-Gurgaon Expressway and the properties on Dwarka expressway. The total stretch covered by the expressway is around 18km including a wide road, which is 150 metres wide, starting from Dwarka and connecting to NH-8 near Manesar. Once expressway (NPR) is operational, it will reduce the travel time of people commuting from West Delhi to Gurgaon as well as will boost the realty market over this stretch in future.
Alok Kumar Upadhayay
Real Estate Professional