Northern Peripheral Road commonly known as Dwarka Expressway is a realty investor paradise amongst NCR real estate markets. It is around 28-km long and 8-lane controlled-access highway connecting Dwarka in Delhi with Gurugram in Haryana. The part of expressway lies in Gurugram area has been completed and remaining portion of the road which lies in Delhi is under-construction. Lately, NHAI has resumed the construction of Dwarka Expressway post all litigation resolutions and it is expected to be completed by early next year.
Dwarka Expressway had been planned with the primary objective to reduce travel time for commuters between West Delhi and Gurugram and decongest traffic on national highway – 8 (NH-8). Gurugram Railway Station and Indira Gandhi International Airport are located merely at 15 minutes away from this micro-market. Various social infrastructure projects are under development and several educational centers, hospitals and shopping arcades are present to cater netizens of Dwarka Expressway.
Proximity to Employment Hubs
Presently, there are several IT/ITeS hubs are under development along Dwarka Expressway like sectors 89, 113 & 114 among other areas. It is strategically located at the crossroads between the industrial town IMT Manesar and the national capital, New Delhi, witnessing development as a major commercial and residential hub.
Major employment hubs like Cyber City, IMT Manesar, Udyog Vihar and certain sectors along national highway-8 and southern peripheral roads are present in its vicinity.
Residential Market of Dwarka Expressway
The Dwarka Expressway realty market has witnessed an influx of developers due to its strategic location. The Dwarka sub-city of Delhi in its vicinity with metro line gives an impetus to real estate market of Dwarka Expressway. Realty market has able to attract several Grade A and regional Real Estate Developers like Godrej Properties, Shapoorji Pallonji, Sobha Developers, Emaar India, Tata Housing, Hero Realty, Adani Realty, and others.
Residential development along Dwarka Expressway sectors are under development stage, there is great potential for capital appreciation in this micro-market for investors. Realty market has a wide budget range of residential properties from affordable to ultra-luxury housing options. Sector closer to the Delhi region command some premium in prices as compared to sectors towards Gurugram.
The sprawling area along the Dwarka Expressway has witnessed significant real estate activity in the last couple of years. It comprised of a mix of several completed as well as under-construction high-rise apartment projects. There are more than 100 residential projects launched here and some of the popular residential projects are Godrej Prive, Sobha City, Shapoorji Pallonji Joyville, Hero Homes, M3M Woodshire, and others.
Currently, residential property prices are hovering in the range of INR 4,400 – INR 7,300 per sq. ft and at the average price of INR 5,790 per sq. ft. In the last ten quarters Dwarka Expressway realty market has witnessed significant capital appreciation of 17 percent.
Scope of growth
Dwarka Expressway is quickly emerging as residential as well as the commercial hub in Delhi-NCR. According to several real estate reports, Dwarka Expressway always figured amongst top five micro-markets in India, which is best suited for investment for double digit value appreciation.
Several proposed infrastructure projects like Diplomatic Enclave II, India International Convention Centre, Rapid Transport System, IT SEZs, and Industrial Corridors will give impetus to realty growth of Dwarka Expressway micro-market.
The upcoming infrastructure projects and upon completion of the last leg of Dwarka Expressway will help unlock the true realty potential of the market. This is the right time to invest in Dwarka Expressway realty market to get a higher capital appreciation in the next few years.