DELHI: With property buying becoming increasingly difficult in Delhi, the NCR, especially Gurgaon, has become a major alternative destination where real estate projects have mushroomed at an unprecedented rate. Over the past 10 years, the pace of growth of the real estate sector in Gurgaon has been unparalleled and new housing societies, commercial complexes have emerged at a rapid pace.
Dwarka Expressway, the highway connecting Dwarka with National Highway 8 (NH-8), is the latest zone which is witnessing a lot of activity on the real estate front. Merely 2.5 km from the Indira Gandhi International Airport, the Expressway is set to bring Delhi and Gurgaon much closer and despite the delay and legal hurdles, the enthusiasm of the real estate sector has not diminished. In fact, some of the best and most trusted real estate players are developing several residential and commercial projects on the stretch.
For the home buyers, connectivity coupled with good infrastructure and basic facilities are on top of their minds. A combination of this makes the Dwarka Expressway a hot choice for property buyers.
The NH-8 segment near the capital can be rated amongst the busiest in North India, because of the constant travel between Delhi and Gurgaon. On account of the millennium city being home to a host of industries and a hub of leading national and international companies that employ a large number of people, there is huge traffic on that stretch. The Delhi-Gurgaon toll makes things worse for the commuters. With the Expressway on the verge of completion, it will result in faster and easier connectivity.
Apart from smooth connectivity, the Dwarka Expressway will provide infrastructure and other basic facilitates coming up around it. This makes it an attractive proposition for property buyers. It is planned around a world of opportunities and development. When operational, it will act as a new business channel between Delhi and Gurgaon.
In the periphery of the Expressway, many prestigious educational and healthcare giants are coming up with their own projects. It will also give good connectivity to the residential sectors and the proposed diplomatic enclave and the current metro corridor. The well planned infrastructure and the growth of shopping markets, corporate offices, markets and hotels, among others, have made the property buyers bullish about the Expressway.
Land acquisition issues and various litigations delayed the construction of the Expressway and caused some jitters. However, now with concerted efforts by the state government and other stake holders including developers, work is back on track to complete the ambitious project.
Dwarka Expressway is 18 km long and 150 m wide, with 60 m of greenery on both sides. Of the aimed 18 km, 14 km is already constructed. From the remaining 4-km, 800 m have been handed over to the Indian Railways for construction of Rail Over Bridge, while 700 m under various HUDA utilities such as HT Pillars and water works is in the process of shifting. The issues related to the remaining 2.5 km have been resolved. With Dwarka Expressway reaching its culminating point, it is emerging as the new hub of developments.
Today Dwarka Expressway is among the ‘Investment Hotspots in Delhi NCR’. Its proximity to the airport gives it a clear edge over other leading property destinations in NCR like the Yamuna Expressway or the Noida-Greater Noida Expressway. All the leading property developers in the market have flocked to the area, making it ‘the destination next’ for property buyers.
Several high profile commercial and residential complexes are in the pipeline. Several projects are already in various stages of construction, ranging from mid to premium segment. Suffice to say, the Dwarka-Gurgaon stretch would be a very different place five years hence.