In addition to the availability of good infrastructure and basic facilities in the vicinity, connectivity today is a major deciding factor while buying a property.
Ravi Saund (more)
COO, CHD Developers | Capital Expertise: Property
The eight lanes, 150 meter wide and 18 km long Dwarka Expressway will be a boon to commuters travelling from Delhi to Gurgaon and Manesar providing them a congestion free travel especially when the Delhi- Gurgaon Expressway has witnessed higher-than-expected traffic volume growth. Due to its proximity to Delhi and unparalleled connectivity with Gurgaon and Manesar, the real estate development in the area has seen an upsurge. The infrastructural development in and around the area has played an instrumental role in its growth. It is likely to evolve into a seamlessly connected real estate destination.
After it is complete, it will provide faster access to the airport; connect close to the 100-metre-wide road proposed in the new master plan, and the areas will also have good connectivity with the proposed diplomatic enclave and the current Metro corridor. This is the prime reason for the buyers and investors to be bullish about this zone. Sectors along Dwarka Expressway are going to be well planned, premium, contemporary urban area when complete as per the Gurgaon Master Plan-2021. One can easily say that the areas that will fall in the periphery of this expressway will become posh areas and will compete with areas like Shanti Niketan and Vasant Vihar. It won’t be ambitious to easy that the areas that will fall in the periphery of this expressway will become as posh as its neighborhood in the noble southern part of Delhi. The faster access to the Indira Gandhi International Airport draws in vote from the NRI clientele too. Educational institutions will also be there. The lifestyle here is going to surpass the ordinary.
The investment value of residential properties along the Dwarka Expressway has not been lost on investors, who are now making a beeline to residential developments in this area. No wonder country’s leading developers have launched their projects here. The various residential options are available at a price lesser than most places in Gurgaon. The response to the projects has been phenomenal as the buyers have started to realize what potential the area holds. The pace of development is strong and the return on investment will be high in this area. The prices in the area have almost tripled - from Rs 2,250 per sq ft to Rs 6,250 per sq ft.
The expressway will also open up avenues for planned commercial and urban development in the region. In fact commercial development is visible in and around Dwarka Expressway. It has been rechristened `New Gurgaon` due to the booming IT/ITES sectors, corporate offices, shopping malls, markets etc here.
Most of the consumer base in this region is the upper and upper-middle class working segment. For working professionals in Manesar, Gurgaon and Delhi, Dwarka Expressway is the ideal residential destination as well as an excellent investment option.
The expanded supply in Dwarka Expressway would correct property prices in areas like the Sohna Road and Golf Course Extension Road. Also, a lot of developments are being launched in the affordable to mid-sized market segment of residential housing. In fact, these areas are now emerging as the answer to the question of what will fill the gap for mid-income housing demand.