News
Dwarka Expressway leads Gurugram’s real estate revival – Money News
The Dwarka Expressway has triggered a wave of activity in Gurugram’s real estate market, attracting the attention of homebuyers and investors alike. This corridor represents a significant step forward in Gurugram’s development saga, fueling economic growth and changing the city’s skyline. Along with rising property values, the expressway has electrified infrastructure expansion and boosted economic activity in the region. Gurugram is now at the forefront of India’s booming real estate sector, attracting interest from both domestic and international markets. The buzz around the Dwarka Expressway reinforces its pivotal role in shaping Gurugram’s future as a vibrant and dynamic urban hub.
Improved connectivity between Delhi and Gurugram is generating a notable surge in the Gurugram real estate market Marketplace. The Central Peripheral Road, which serves as a crucial connector connecting the Dwarka Expressway to Sohna Road via the Southern Peripheral Road (SPR), is key to maintaining the pace of growth. Prime Minister Narendra ModiThe recent inauguration of the Haryana section of the Dwarka Expressway is expected to streamline traffic flow and ease congestion between Delhi and Gurugram. Real estate analysts have highlighted the emergence of the Dwarka Expressway as a major residential hub in Gurugram, with projections indicating future launches of high-end and luxury residential properties. Furthermore, the operationalization of the expressway is expected to drive a surge in property prices, reflecting its newfound affordability and desirability.
Read too: 5 Reasons to Work Towards Building a Strong Credit Score
According to data from real estate consultancy Anarock, in the last decade, approximately 53,000 housing units have been introduced in the area, with more than 80 percent already snapped up by eager buyers. Strong demand has pushed up average property rates in the primary residential market along the Dwarka Expressway, rising from Rs 4,530 per square foot in 2013 to Rs 8,300 per square foot at the end of the previous year. This indicates the attractiveness of the corridor and the promising prospects for profitable real estate developments.
The Dwarka Expressway passes through several important sectors in Gurugram, including 113, 112, 111, 110, 109, 108, 107, 106, 104, 103, 102, 99, 88B, 37D, 36A and 36B, with its catchment area extending from Sector 81 to 115. Notably, it connects to Manesar Road and Pataudi Road, and also provides connectivity to the Delhi-Mumbai Expressway. As the Haryana stretch of the expressway nears completion, developers are optimistic that their investments made over the past few years will finally yield significant returns. Currently, approximately 150 residential projects have been delivered along this corridor, with high expectations for the launch of more high-end projects. The inauguration of this vital road infrastructure is expected to not only revitalize areas within Gurugram, but also have a substantial impact on neighboring Delhi, particularly in residential areas in several villages.
The completion of the Dwarka Expressway could bring profound economic changes as well, steering Gurugram’s development in a positive direction. Its transformative impact on real estate and the broader industry economy underscores the monumental role of infrastructure in catalyzing growth and prosperity. As the expressway opens up new avenues for investment and connectivity, Gurugram is poised to emerge as a beacon for sustainable urban development and economic success in India.
The ripple effects of this infrastructure project are expected to be far-reaching, with increased economic activity, job creation and improved livability expected for the region. With the promise of improved accessibility and enhanced connectivity, the Dwarka Expressway is poised to unlock significant opportunities for businesses, residents and investors. As Gurugram embarks on this path of profound change, it is poised to showcase its potential as a dynamic and vibrant economic hub, driving innovation, growth and prosperity in the years to come.
(By Shashank Vashishtha, Executive Director, Exp Realty India)
Disclaimer: The views, recommendations and opinions expressed are personal and do not reflect the official position or policy of FinancialExpress.com. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproduction of this content without permission is prohibited.