Dwarka Expressway - Time for Investors to Cheer?

The last 4 km of the ongoing construction of the 18 km Dwarka Expressway has had most buyers and realtors excited and concerned. Real Estate advisors & trend watchers believe that this infrastructural development, set to connect Delhi and Gurgaon in an hour, is decisive when it comes to real estate.

Why Dwarka Expressway?

Barely 10 km from Gurgaon is Dwarka Expressway which is nearest to Delhi. The area’s proximity to suburban business districts of Sohna, Cyber City, Golf Course Road and even to the peripheral business districts of Manesar can be decisive for the growth potential of the property market along the Expressway.

Reputed realty players like Ansal, SS Group have launched their projects and in the absence of pocket-friendly choices anywhere else, Dwarka Expressway is a promising deal. Sectors closer to Delhi command a 30 per cent premium, while properties towards the end of NH-8 are relatively affordable.

For frequent fliers, the area is barely a few minutes from the international airport. All these amenities plus a proposed metro are what the upper-middle class Delhi buyers know as ‘affordability’ today.

The impact of all these facilities reflects on the prices in the area, Prices have also appreciated quickly, from Rs 2,500-3,500 per sq ft a few years back to around Rs 5,000 per sq ft in terms of re-sale and anywhere up to Rs 11,000 per sq ft for new property.

Sectors near the Dwarka expressway are Sectors 99 to 113, 83 to 86. The Gurgaon-Manesar Master Plan-2012 has given a boost to the Expressway. The total stretch covered by the expressway is around 18km including a wide road, which is around 150 meters wide, starting from Dwarka and connecting to Palam Vihar. The main objective of the expressway is to reduce the travel time of people commuting from West Delhi to Gurgaon.

Sectors on the expressway, like Sectors 110A, 111, 112 and 113, which are near Delhi, are likely to see higher appreciation in the future. Sectors near the expressway are Sectors 37D, 83, 84, 88, 99, 100, 101, to 110 are being developed as residential and commercial, with the maximum area dedicated for residential development.

Concerns

The last leg of construction of the expressway is very crucial, almost like a beginning when it comes to unfolding the real estate chapter of the area. If the expressway project gets delayed, there would be genuinely low interest in the area, less re-sale units transacted in the market and therefore, there wouldn’t be any fresh money in the local real estate economics. In the long term, however, the market is sure to pick up

Development is continuous but prospective buyers are few owing to the slowdown in the market in general as well as that of the expressway project. Majority of the properties is under construction and developers seem to be knowingly delaying their projects.

Caution

Projects like the Faridabad-Noida-Ghaziabad Expressway (FNG) have got so delayed that they have just given way to a lot of construction activities coming up and realtors trying to market their projects owing to proximity to the FNG. 

Online discussion forums, consisting of prospective buyers and those who have already put in their money banking on future prospects of FNG, reveal that such project delays have disillusioned prospective buyers. Similarly, Dwarka Expressway where work started in 2011 and was scheduled to be operational by 2012. 

Further delays because of litigations and land acquisition have pushed the deadline to the year 2017. Buyers have taken the cue and therefore there is a lull in the market. Undoubtedly in the long-term, the Dwarka Expressway is a practical investment.

Property in Gurgaon

NEW GURGAON - INVESTOR'S PARADISE

New Gurgaon near Dwarka Expressway is an investor's paradise and analysts highly recommend projects in this area. 

According to the recent report, properties in as many as 30 sectors of Gurgaon have appreciated by more than 100% in the last four years. Development activities in New Gurgaon have given a new lease of life to the real estate activities in Gurgaon, after the merger of master plans of Gurgaon and Manesar.

At present, New Gurgaon is home to the highest number of professionals per sq km in the country and also has the third highest per capita income.

Top notch realty players and promoters like SS Group, Ansal API, Unitech, DLF, Vatika among others, were the pioneers in identifying Gurgaon as a strategic location and establishing it as the hub for residential and commercial projects.

The new sectors of New Gurgaon, including Golf Course Extension Road, NH-8, Dwarka Expressway & a proposed ISBT project is also going to see planned and effective civic infrastructure. Wider roads, less congestion, more open spaces, and easy commuting due to access to NH-8 and Dwarka Expressway are other advantages of investing in Gurgaon and its peripheral areas. All these factors promise good returns and make New Gurgaon an ideal destination for investment.

Over the years, new realty sectors of Gurgaon have seen vast improvement in infrastructure with the development of new roads and highways like Dwarka Expressway, NH 8 and better connectivity through the launch of Metro and Rapid Metro.

With the presence of over fifty listed companies in Fortune 500 and a large presence of almost all Indian blue-chip companies, Gurgaon is now the corporate capital of northern India.

As employment opportunities and industries grow in Gurgaon, many HNIs and investors are choosing to shift over there. This is evident from one of the recent reports which said that the maximum demand in Gurgaon was registered for units worth Rs 1 to 2 crore, closely followed by properties worth Rs 60 to 100 lakh for the quarter ending June 2014.

The New Gurgaon micro market is located towards the western periphery of Gurgaon. It is composed of Sectors 81, 81 A, 82, 82 A, 83, 84, 85, 86, 88, 89, 90, 91, 92, 93, 94, and 95 and promises to deliver over 26,000 residential units.

According to Gurgaon-Manesar Master Plan, 2031, New Gurgaon has been zoned primarily for residential development purposes. Most of the project launches took place between 2009 and 2012.

In the primary market, a number of premium projects were launched including The Leaf by SS Group in Sector 85, Ansal Hub by Ansal Housing in Sector 83, Burman GSC by Burman Group in Sectror 82A etc.

SS Group in New Gurgaon is set to change the skyline of the Millennium City, offering new avenues of growth development.  The group has diversified in Residential, Commercial projects with Brewery, Healthcare, Hospitality and Education.

New Gurgaon has grown and progressed beyond recognition over the last decade. It has Lofty skyscrapers and world-class townships define the skyline of the Delhi NCR's fastest growing satellite city.

A huge supply of quality residential & commercial real estate has helped the region grow fast, providing fresh minimum mass for the development of real estate in Gurgaon in the last couples of years.

New Gurgaon has nearly 48,000 units in the area, out of which over 3,100 apartments are getting ready for possession, with around 8,000 customers ready to move into SS Group City alone. SS Group is the largest developer in the region and is credited as the main driver of the development of Gurgaon. Its project, The Coralwood, is one of the most sought after projects in the New Gurgaon area. This gated township is located along with 85% green expanse. Located in close vicinity of the IGI airport, The Coralwood has the advantage of superb connectivity through the forthcoming Dwarka Gurgaon Expressway and NH8.

A host of new projects have been launched by SS Group in New Gurgaon along Dwarka Expressway & NH-8, connecting Gurgaon to Manesar.

Favoured by both budget-home as well as premium-home developers, some of the recent launches in the premium segment in and around SS Group’s the Coralwood include The Leaf, A Almeria etc. This has attracted high net worth buyers and investors who seek capital appreciation opportunities.

Properties in Gurgaon

Ultra Luxury Projects By Reputed Builders on Dwarka Expressway

The developing sectors along Expressway are poised for stupendous growth. Best names in the real estate industry already launched luxury projects in this Area.

Dwarka Expressway offers planned development and has great potential for aspiring real estate developers like Ansal Housing, SS Group, Supertech, BPTP, Vatika etc. It carries good long-term potential, and given the overall market conditions and infrastructural issues, short-term challenges can easily be overcome, experts say.

The development of this stretch will not only reduce travel time between Delhi and Gurgaon, it will also open up avenues for planned commercial and urban development in the region.

Dwarka Expressway connects Dwarka with NH8, and brings Delhi and Gurgaon closer. The two existing roads connecting Delhi and Gurgaon, MG Road and the NH-8, are not enough to tackle the heavy traffic between Delhi and Gurgaon, and this new expressway will make connectivity between these two cities smoother and faster.

With world-class infrastructure and facilities, Dwarka Expressway promises to be a new channel of business and commerce between Delhi and Gurgaon. The Dwarka Expressway, only 2.5km from the IGI airport, will also connect 16 new residential sectors. The improvement in Haryana's power supply has changed the situation in the area--from one facing endemic power shortage to one that boasts of power surplus.

Four new power plants have been set up by the Haryana government, which will add up to making Dwarka Expressway a new hub of exciting developments in real estate.

SS Group, one of the largest realty developers in the NCR, is developing Luxury Residential Apartment 'The Leaf’ in sector 85 near Dwarka Expressway. Ansal Housing is also coming up with a Commercial Project as Ansal Boulevard in sector 83. This project is strategically located at the intersection of NH-8 and Dwarka Expressway.

 Here, one can enjoy an exclusive lifestyle and privacy amidst a larger, secure community. Its connectivity will be further enhanced by a new ISBT terminal and the proposed Metro station in close vicinity, the firm's spokesman said.

There would be schools, healthcare centers, police posts, clubs, a number of parks and plenty of open spaces with taxi stands in this area. A recent survey by Knight Frank pegs returns on investment at 108%, by 2017, along Dwarka Expressway. Moreover, the development is well-connected to the central business districts of Gurgaon, the new hospitality and leisure hub, Aerocity, and the IGI airport.

Properties in Gurgaon

Dwarka Expressway projects speeds up

Dwarka Expressway

The year 2013, has been a roller-coaster ride for the Realty Sector. A lot of new projects were launched by some of the best builders in Gurgaon which were being promoted by different alluring schemes. Considering different areas, Dwarka Expressway managed to catch the most attention of the investors and the builders. 

The Expressway connects Dwarka with National Highway 8 at Kherki Dhaula and passes Pataudi Road. Lately, the work on the expressway was all stuck up due to land acquisition issues; but the end of the year 2013, brought a sense of relief for the investors of the Dwarka Expressway with the work to resume.

The expressway was expected to be completed by March 2012 but due to the hurdles in the Land Acquisition it was left in between. The builders of the upcoming projects on Dwarka expressway played an important part in resuming the work and ensuring that the expressway is ready as soon as possible.

According to the sources, due to the delay Indiabulls – the contractor of Dwarka Expressway has demanded compensation from Haryana Government. Since this procedure could have delayed the work further, thus the builders under the CREDAI have pooled money to pay to the contractor and make sure the work resumes.

Dwarka Expressway, at present is the most sought after option amongst the investors and end users in NCR. This was one of the major reasons that the delay in the construction work could not be bore.  

Now, according to the new estimate, the work will get completed by March 2014.

There are just 4 small stretches left now to be completed. Out of 18 kms stretch, 14 kms of the expressway has already been completed. According to the, detailed map of Dwarka Expressway 800 meters have been given to the Indian Railways for the construction of a rail-over-bridge. Around 700 meters of land is under various HUDA utilities.

High Court has put a stay order on the 2.5kms of the Expressway stretch. To sort out this issue, HUDA has announced a rehabilitation policy. Under this policy, people with built-up homes or structures are being offered alternative plots in sector 110A and 37C. These plots are of the same size as the plots being taken over. Only 15 Acres is required to re-settle the petitioners. The Dwarka Expressway will bring the Delhi and Gurgaon closer and also would smooth the traffic flow by reducing the jams. This will also reduce the distance of International Airport from the millennium city. 

More than 33,000 houses are under construction on Dwarka Expressway. With projects from low-investment to high class luxury projects, Dwarka Expressway has something for everyone. The main developers here are Indiabulls, Ansal, BPTP, Ramprastha, Puri Constructions, Sobha Developers, Assotech, Raheja Builders, Chintels, ATS, DLF, Orris, Bestech, Vatika, Mapsko, Universal, Vardhman to name a few.

Properties in Gurgaon