Dwarka Expressway, or Northern Peripheral Road, has become the hottest residential property location in Gurugram. Gurugram has witnessed a gradual succession in housing sales over the years. It recorded the highest absorption rate and launches across all the cities in NCR in 2022, according to Anarock’s report released in December last year. Dwarka Expressway is one of the premium locations, toplining home investments by homebuyers in Gurugram.
The Dwarka Expressway project, which is still under construction, is most likely to be completed by the latter half of 2023. It is termed as a multi-utility corridor which will decongest Delhi-Gurgaon Expressway. The Gurugram stretch of Dwarka Expressway has seen immense growth across several housing formats, such as Luxury Independent Floors, Plotted Developments, and Group Housing societies. The Dwarka Expressway will be opened in stages, and the 19-km Gurugram stretch is set to be operationalized soon in the first stage.
The Haryana Government’s ambitious Global City project, which will be developed across 1000 acres along the Dwarka Expressway, has also ramped up its capital investment and property appreciation value. The plans to develop the Global City project as a futuristic commercial hub and business district adopting global construction practices have gathered momentum for the residential realty sector in Dwarka Expressway. The Global City project is anticipated to be completed in the next 4-5 years.
Dwarka Expressway has become the new face of Gurugram realty with prominent growth corridors such as Southern Peripheral Road, Sohna Road, Golf Course Extension Road, and Pataudi Road in its vicinity which are full-fledged residential belts. Its proximity to New Gurugram, industrial hubs like Manesar, and Delhi-Mumbai Expressway has also become a positive orientation, motivating buyers to invest in Dwarka Expressway.
The possibility of a realty boom is at its apex in Dwarka Expressway. The 29-kilometre Dwarka Expressway will act as a direct connectivity channel between Delhi and Gurugram. It originates from Mahipalpur in New Delhi and terminates at Kherki Dhaula in Gurugram. The travelling time between both regions takes 1 to 1.25 hours via Delhi-Gurgaon Expressway right now, which becomes unbearable for commuters due to pinch points, traffic jam loads, and vehicle incursions.
The Dwarka Expressway, upon its completion, will become a major relief factor for lakhs of travellers who need to commute on a daily basis between Gurugram and Delhi. Experts and traffic officials believe that after the operationalization of the Dwarka Expressway, it will ease traffic on Delhi-Gurgaon Expressway by 50-60%.
Post-pandemic, it is one of the prime real estate hubs which has witnessed green signals in terms of quick home sales at a higher price value. Prior emphasis has been given to developing Dwarka Expressway as eco-friendly road construction. It has seen a simultaneous and favourable rise in green projects which has also spiked in the interests of millennials and next-generation homebuyers, who have shown an inclination to invest in energy-efficient housing projects.
The all-encompassing developments in Dwarka Expressway have also accentuated the NRI interests. Indian real estate is seen as a profit-making investment economic avenue and portfolio by NRIs. Especially when it comes to luxury, Gurugram remains their foremost choice. Dwarka Expressway is the real estate tapestry with unlimited potentialities waiting to underscore.
(The author is managing director of Axiom Landbase)
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