Dwarka expressway a new platform for real estate investment
Dwarka expressway has become the latest destination for both middle class and upper middle class buyers. Investors with a budget between Rs 3,500-7,500 per sq ft can easily invest in Gurgaon real estate for end use and capital gain.
Few renowned developers such as BPTP, Puri Constructions, Raheja Developers, Mahindra Lifespaces, Sobha, Indiabulls, M3M, Emaar MGF, CHD Developers have already commenced construction in this location.
The 18 km long expressway, connecting Dwarka (Delhi) and Delhi-Gurgaon Expressway (NH-8), particularly near Delhi-Gurgaon border toll plaza, has witnessed unprecedented traffic growth. This will reduce the commuting time from Delhi to Gurgaon and is also expected to have a metro line soon.
Due to the increase in the number of companies operating out of Gurgaon and less availability of mid-segment residences in Gurgaon and Delhi, Dwarka expressway is booming as an alternate location for investment and end-use.
The current ratio says that nearly 19,000 units are in various stages of construction, of which nearly 10 percent cater to high income buyers with the remaining targeted at mid-income buyers. By 2015-16, it is expected that most of the projects will be completed.
As of now, not even a single project is completed in this belt although there is substantial buyer interest with very healthy transaction rate.
Last year in the second half, Gurgaon had witnessed lot of new launches with most projects catering to high income buyers.
According to the market trends, it is expected that Dwarka expressway will witness the same growth prospect as other Gurgaon locations such as Golf Course Road and Golf Course Extension Road.
It is also reported that amenities provided by developers are better and 30-40 percent cheaper in Golf Course Road and Golf Course Extension Road than that in Dwarka and other prominent locations in Gurgaon.
The capital values on Dwarka Expressway have more than doubled to Rs 5,250-7,500 per sq ft during the last couple of years due to the rise in demand.
Due to higher land values, future supply in Dwarka expressway will be in the range of Rs 7,000-8,500 per sq ft or even higher.
Click for related forum discussion
Related Real Estate News:
DDA stunned by UD ministry’s new conversion policy
Delhi Metro’s phase 3 first corridor to be operational by March 2014
Delhi, Delhi NCR, Delhi-Gurgaon expressway, Dwarka (Delhi), Dwarka Expressway, Gurgaon, Gurgaon real estate, NH-8, Palam Vihar, Real estate in India, Realty News
