It comes as little surprise that Dwarka Expressway is now poised to become one of the focal points for real estate development in Gurgaon, given that it has all the ingredients for realty growth. RAVI KUMAR MANGALAM writes
In addition to the availability of good infrastructure and basic fa cilities in the vicinity, connectivi ty today is a major deciding factor while buying property, as properties that have come up near expressways have always given higher returns.
Thus, the recent assertion of the Union ministry of urban development to speed up the construction of Dwarka Expressway will only make the sec tors in and around the expressway prime destinations for investment.
Out of the total 18km stretch of the expressway , black-top work on nearly 15km has already been completed. Construction on the rest of the stretch is going on in full swing and it is likely that it will be completed in 2015, giving a big boost to residential and commercial real estate projects in the region.
With an increasing number of MNCs and top Indian corporates operating out of Gurgaon, coupled with the limited availability of mid-segment residences in Gurgaon and Delhi, Dwarka Expressway is emerging as an attractive alternative for investors and end users.
One of the best options for end users and investors is CHD Developers' `106 Golf Avenue' in Sector 106, which is directly con nected to Dwarka Expressway via a 60metre-wide sector road, and enjoys excellent connectivity with the national capital and Gurgaon.
Gaurav Mittal, the managing director of CHD Developers Ltd, says: “Dwarka Expressway presents opportunities for middle class and upper middle class buyers to invest in residential real estate for end use and capital gain in Gurgaon-106 Golf Avenue, a golf-themed project, presents a bouquet of options ranging from 2BHKs to 4 BHKs. The project is yet another healthy community from the house of CHD Developers encompassing all that is needed for comfort, health, and convenience. Construction is six months ahead of schedule and we intend to hand over possession in December 2015, in line with the completion of the expressway itself.“
With the rise in demand, the capital values on Dwarka Expressway have more than doubled, from Rs 3,500 per sq ft to Rs 7,500 per sq ft, during the last couple of years.“Once the expressway is up and running the prices will rise steeply . This is the ideal time to invest in properties which will be ready for possession in 2015,“ Mittal said. Faster access to the IGI airport, forthcoming Diplomatic Enclave, and Delhi Aerocity draws in vote from NRI clientele and investors alike, pushing prices further up in this region.
Dwarka Expressway is expected to follow the same growth curve as other premium Gurgaon locations like Golf Course Road.Realty watchers say that future supply in Dwarka Expressway would be launched in the price range of Rs 7,000-8,500 per sq ft or even higher with bigger apartment sizes, primarily due to higher land cost.