Dwarka Expressway to give a boost to Gurugram Real Estate

• May 09, 2024
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The recent inauguration of the Dwarka Expressway heralds a new era for real estate development in Gurgaon, marking a significant transformation in the urban landscape of the region. This newly-inaugurated thoroughfare, spanning 19 kilometers with eight lanes, links the Delhi-Haryana border to Kherki Daula. It runs parallel to the Urban Extension Road-II, a six-lane, 10-kilometer road stretching from the Nangloi-Najafgarh Road to Sector 24 Dwarka.

These infrastructural enhancements are not merely about improving connectivity but are seen as a testament to the area’s rising prominence within Gurgaon’s real estate market. This corridor does more than link key destinations; it is fast becoming a lifeline that enhances the region’s accessibility to major cities, including Delhi, Jaipur, Mumbai, and Chandigarh. This much talked about expressway culminates at the Cloverleaf near sector 76 and sector 77, making this area a hotbed of commercial and residential development. These sectors already have the presence of leading developers, including DLF, Emaar, Whiteland, M3M, and Suncity. DLF Ltd, India’s largest listed real estate company, has launched DLF Privana South, a high-rise luxury development in sectors 76 and 77.

According to market sources, DLF is planning to launch another project in this location, which will be part of the integrated township DLF Privana, or the DLF6. This will be similar to DLF5 amalgamating residential spaces, commercial centers, and entertainment zones into an integrated township.

“The Haryana section of the long-awaited Northern Peripheral Road (Dwarka Expressway) would now serve as a pivotal milestone in enhancing the creation of high growth residential pockets via seamless connectivity and mobility. This transformative development will provide access to India’s growing middle class to fulfill their dreams of owning a home in the millennium city of Gurugram. This perfectly fits into our strategy by significantly boosting new age real estate developers with strong financials, prudent governance and good execution records to develop new projects and contribute towards “Housing for All” need of the nation,” said Mohit Malhotra, Founder and CEO, NEOLIV.

The Dwarka Expressway and New Gurgaon area have emerged as the newest focal point for high-end real estate developments in the Delhi-NCR region. Research from Anarock reveals that from 2013 to 2023, the vicinity saw the launch of approximately 53,030 residential units across a spectrum of budget ranges. Furthermore, it’s projected that over the next two years, an additional 10,515 residential units will be completed and ready for occupancy. Since the early days of the expressway’s development, real estate developers have been quick to secure substantial land parcels for residential projects along this corridor.

A separate analysis by JLL indicates that about 175 acres of land have been involved in 17 distinct transactions, amounting to a total value of over ₹3,100 crore, secured by developers since CY2022 in this specific submarket. The enhanced connectivity brought about by the expressway has spiked interest among potential homeowners, particularly those from Dwarka and other western parts of Delhi, many of whom are seeking to elevate their living standards by opting for apartments equipped with contemporary facilities, including dedicated parking spaces.

Upon the completion of the cloverleaf flyover, the recently developed sectors of Gurgaon will benefit from direct access to NH-8, allowing residents to avoid the congested Kherki Daula toll plaza. This enhanced connectivity further solidifies the region’s position as Gurugram’s new epicenter, attracting businesses, families, and tourists to join a flourishing and innovative community primed for growth.

SOURCE: https://www.financialexpress.com/money/dwarka-expressway-to-give-a-boost-to-gurugram-real-estate-3439454/