Dwarka e-way lifeline of real estate

It is the expressway for which the real estate developers and buyers have been waiting for ten long years. The work on Gurgaon side of the expressway was complete but the nod from Delhi Government was pending as it required transplantation of 13700 trees. It is being developed in four packages with package two being a 4.5-km-long elevated road from Dwarka Sector 21 underpass to the Haryana border. The approval for Phase 2 is received from the Delhi government and the NHAI officials will transplant trees on chunks of land along the Expressway and Yamuna floodplains. Approval for package one — 5.3-km stretch from Shiv Murti on NH48 to rail underbridge near Sector 21 — is still awaited and work on packages three and four that falls in Gurugram has started with completion likely by the end of 2020.

With hurdles of Dwarka expressway almost resolved now, the demand will see a further boost. “It is good news for the area as developers have invested over Rs 60,000 crore in residential and commercial projects along the 150-metre-wide roadway, but had been struggling to sell projects due to lack of proper connectivity. There are around 1.5 lakh home buyers who have suffered for more than a decade due to the delay and I understand their pain and have been in touch with them. As the entire land required for completing the Dwarka Expressway now vests with NHAI and the tenders for construction have been floated, we are hopeful of a quick completion of the road project,” says Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development.

Connectivity to the real estate projects always acts as a pull for the buyers/investors. If look around then properties that have come up near highways or expressways have witnessed tremendous response. This factor has led to development of many Sectors in Gurgaon also and the latest options available in the Gurgaon are the areas around Dwarka-Gurgaon Link Expressway (Northern Peripheral Road, NPR). As in 1990s NH8 gained popularity, Dwarka-Gurgaon Link Expressway is receiving the same or in fact more attention. The road starts from Dwarka crosses Bijwasan, New Palam Vihar, Kherki Daula and finally meets at NH8. Aggarwal says, “This is the life line for the people who are living Dwarka and working in Gurgaon. You can see that development is taking shape in a very fast phase. Dwarka expressway is developing as a hub for commercial and entertainment activities and is amongst the most preferred locations to stay in the NCR region with its proximity to Gurgaon and link to Delhi-Noida.”

As of now Gurugram is in lead when it comes to meeting the demands of varied customer base, and soon it will take a lead in affordable housing also as many projects are being launched in this segment. It is evident from the fact that one  out of every two units sold in Gurugram in Q2 FY’19 was priced below Rs.50 Lakh. Affordable housing projects are also coming across the city for low income group people. The maximum rate of these projects is Rs 4 thousand per square meter. There are 45 thousand properties in this segment near to the completion or will complete next couple of years.

The package 2 which got Delhi Government‘s nod will have elevated structures running parallel to each other and an interchange to connect Gurugram from Najafgarh, Dwarka and west Delhi. It will have eight elevated lanes and six surface lanes with multiple entry and exit points.

Buyers as well as developers are jostling to get a fair share of pie in this area. The main reason behind the heightened expectations and interest is good connectivity that this Expressway will provide. After it is complete it will provide faster access to airport; it will connect close to the 100m wide road proposed in the new master plan; the areas will get good connectivity with proposed diplomatic enclave and the current metro corridor. One can easily say that the areas that will fall in the periphery of this expressway will become the posh areas and will compete with areas like Shanti Niketan and Vasant Vihar.

Sectors near Expressway are 99-113, sector 83 and 84. There will be commercial belt touching 105, 106, 109, 110, 110A, 111, 112 and 113 with sectors 100 and 101 being used for public utilities. And then sectors 114 and 88 are fully commercial. Some other sectors are also benefitting because of their proximity to the Expressway are 81-86, 89-93 and 95. Sectors 81, 82, 85, 86, 90, 91, 92, 93 and 95 are around 3 km away from the Expressway. Sectors falling near Delhi on the Expressway are likely to see higher appreciation in future such as 110A, 111, 112 and 113. Other major expressway sectors are 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 both with maximum area dedicated for residential development.

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