Dwarka Expressway set to bring more money into Gurgaon realty market
The Dwarka Expressway, inaugurated by Prime Minister Narendra Modi, is expected to boost real estate prices in Gurgaon, with developers such as Sobha, Raheja, Signature Global, M3M, Godrej, and Hero Realty launching projects along the corridor. Th...
Developers including Sobha, Raheja, Signature Global, M3M, Godrej and Hero Realty have projects along the corridor and some of them are planning to launch more projects as infrastructure development is expected to generate more demand.
"With the expressway now complete, we are witnessing a promising downturn in unsold inventory levels in these sectors, from a significant 25-30% eight to 10 years ago to a mere 7-8% now," said Anshuman Magazine, chairman, India, South-East Asia, Middle East & Africa, CBRE.
CBRE expects an appreciation in property and land prices in the vicinity in the coming years, offering lucrative returns on investment to early investors. The real estate segment around the expressway is mainly residential, with some retail projects.
"As the expressway undergoes phased development, it is contributing significantly to the progress of city locations, drawing attention from both homebuyers and investors," said Pradeep Aggarwal, chairman, Signature Global (India) Ltd. "This new expressway would not only provide better connectivity for the close vicinity and locations of SPR (Southern Peripheral Road), New Gurugram and sector 37D at Dwarka Expressway, it would also be a catalyst for price appreciation and promise a bright future for the real estate market in the region."
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The 29-km Dwarka Expressway has been planned to provide an alternative link between Delhi and Gurgaon and thereby reduce traffic congestion. Since its inception, developers have flocked to grab large land parcels and thereafter launch several housing projects along the expressway. "In fact, investors consider it one of the most promising and fruitful investments," said Santhosh Kumar, vice chairman, Anarock group.
As per Anarock, nearly 53,030 units have been launched here between 2013 and 2023 across budget segments. More than 10,515 housing units are expected to be ready for possession in the next two years in the region.
"The Dwarka Expressway is poised to be a transformative event, particularly in the National Capital Region, with Gurugram set to experience significant benefits," said Aman Sarin, CEO, Anant Raj Limited.
