Dwarka expressway is the new shining star in the realm of real estate and has brought about revolution in the sector. It is emerging as a paradise for residential and commercial property buyers.
It is no news that the real estate market in the areas surrounding Delhi – mainly Noida and Gurgaon – is flocked with apartments and villas from the best players in the market. However, areas such as Dwarka Expressway and South of Gurgaon are slowly coming on the radar, making them the next goldmines of real estate.
It is indeed true that real estate is one of the most preferred areas for investors in India. In the recent years, the attractiveness of real estate has further been augmented by the increasing demand for more and better quality housing, office space and commercial complexes. Dwarka Expressway and South of Gurgaon are two such destinations for real estate investors. Micro markets in Delhi and neighboring areas have emerged as destinations for future investments, which not only provide relative affordability but have also transformed majorly owing to infrastructural development and improving connectivity, with the potential to attract real estate demand across various segments.
The Expressway to Dreams:
Dwarka Expressway is the new shining star in the realm of real estate and has brought about a wave of revolution in the sector. It is emerging as a paradise for residential and commercial property buyers and has successfully lured investors with its many advantages. The new eight-lane expressway is expected to come as a relief for those who commute from Delhi to Gurgaon. The reason behind the growth of Dwarka Gurgaon Expressway is that the construction for many projects has already started in this region. Reputed builders such as Neo, Vatika Group, Raheja Builders, Chintels, etc, have their projects on Dwarka Expressway and have already gained a firm foothold in the area.
The housing projects along Dwarka Expressway are in various stages of construction – some almost complete, others are yet to add additional floors. Union Transport Minister Nitin Gadkari’s announcement in March to accord national highway status to Dwarka Expressway has given hope to thousands of home-buyers who have invested here and are awaiting the possession of their homes. Haryana Chief Minister Manohar Lal Khattar has fixed June 2017 as the final deadline for the road. If Dwarka Expressway gets highway status, completion of the expressway will be speeded up as it will be controlled by the National Highways Authority of India (NHAI).
Prashant Kaura, Founder and Executive Director, GenReal Property Advisers Private Limited, says that once certain stretches of the highway that have been held up due to land acquisition issues are developed and the highway is complete on the Haryana side, the market will see activity. Right now, the sales that are happening are being settled at sub Rs 6,000 per sq ft.
Projects to benefit most from the NH status will be the ones along Khirki Duala to Palam Vihar areas that include sectors 88, 89, 90, 102, 104 etc. Many developers are likely to time their completion and delivery with the completion of the expressway. They are the ones who are likely to witness an upward movement in prices (about seven-eight per cent). What this means is that if the expressway gets completed by next year, around 10,000 units will be up for delivery along the stretch.
The Address to The Future:
Following the present trend of affordable housing, about 11 builders have come together to fulfill the dreams of many. This upcoming destination is known as ‘South of Gurgaon’. Eleven developers of NCR, namely Supertech Limited, Ashiana Homes, Ashiana Housing, Central Park, Eldeco, ILD, CHD Developers, Silverglades, MKS Ventures, Gold Souk and Nimai Developers have put in a vision to together develop ‘South of Gurgaon’ as the hottest yet affordable real estate destination within the close proximity of Gurgaon.
“South of Gurgaon is witnessing a little more interest than Golf Course Road and Golf Course Extension because of its affordability and developed infrastructure. Sohna Road is already a developed state highway and is being further expanded into an eight-lane expressway. The master plan of the city has also opened up many new sectors for real estate development. The Southern Peripheral road which links the NH8 to Golf Course Road and South Delhi is already under construction. The region is well-connected to the existing offices and social infrastructure in Gurgaon,” says Navin M. Raheja, CMD, Raheja Developers.
“It offers a good example of mixed use development – a recipe for further growth and planned urbanisation. On either side of this road, presence of schools, IT parks, malls, residential apartments, villas and the new upcoming residential projects make it a sought after location,” Raheja said.
Raheja Group has a mega township in South of Gurgaon, Raheja Aranya – The Smart Green City, spread over an area of 170 acres with world-class features. The township offers a mix of commercial, retails spaces and host of facilities such as community center, shopping arcade, landscaped gardens and parks, schools and nursing homes. It is strategically located with the best view of the Aravalli ridges and is ecologically friendly with host of advanced green features such as rooftop solar power generation for the entire city, rainwater harvesting, solar street lighting, waste management system, recycled water for flushing and landscaping, construction using local materials to conserve environment. It has projects such as Aranya independent floors, plots and Maheshwara, which gives a perfect blend of city and scenic life.
“Apart from already developed infrastructure such as schools, colleges, hotels and hospitals and excellent connectivity from main Gurgaon, IGI Airport and Delhi, South of Gurgaon boasts of natural beauty being amidst the Aravali Hills. Development of housing projects which range from moderate apartments to luxurious high-rise apartments to lavishly designed villas makes Sohna, ‘South of Gurgaon’, as a popular sub-market in the entire NCR. The future of this region is bright as it has close proximity to the all major cities of Delhi NCR; the area is easily accessible and is strategically located (from commercial, residential and industrial view),” says Mohit Arora, Managing Director, Supertech Limited.
Supertech Group’s projects in South of Gurgaon include Hill Town and Officers’ Enclave. Hill Town is an integrated township of 140 acres which offers two and three bedroom three side open premium residences, lavish villas and independent floors. The township also has spaces for retail and commercial activities, school, hospital, community center, taxi stand, beauty parlor, ATM, kids’ play area and a 15000 sq. ft. clubhouse, which has a mini theater, gymnasium, badminton court, tennis and squash courts, yoga and meditation pavilions, library and party halls.
Located on the foothills of the Aravallis, Hill Town will render a stellar view of the hills. Officer’s Enclave, the affordable group housing project, is a part of 140 acre integrated township, Hill Town. It is a Special Housing Scheme for Serving and Retired Government Employees located in Sector-2, South of Gurgaon. The scheme will to cater to the housing demands of the government officials at below the market rates.
Source: Hindustan Times (Estates), May 21, 2016, Page 04