Gurgaon’s Most Sought-After: Dwarka Expressway Witnesses Remarkable Spike in Property Prices
Ever since its conceptualisation under the Gurgaon Manesar Plan 2021, the Dwarka Expressway has been on every real estate company’s radar. Also popularly known as NH 248BB, or Northern Peripheral Road, the 29-km-long, 16-lane elevated expressway connects Mahipalpur, Dwarka, in Delhi, to Kherki Daula Toll in Gurgaon, with 18.9km in Gurugram and 10.1 km in Delhi.
The highway is planned to function as an alternate to the Delhi-Gurgaon expressway to ease the bottleneck congestion commuters often face travelling between Delhi and Gurgaon, with industry experts insinuating that its operationalisation will reduce the traffic on the Delhi-Gurgaon expressway by as much as 50 to 60%.
However, what was initially envisaged as a micro market meant to ease the congestion and saturation in the Delhi and central Gurgaon markets has evolved into so much more. Indeed, today, the expressway has successfully metamorphosed into one of the most sought-after investment locales in the country. In fact, according to a recent study by a leading real estate consultancy, the Dwarka Expressway corridor is the quintessential residential destination in Gurgaon.
The study also indicates that in Q3 2023, the prices for residential properties appreciated by 25% from the previous quarter and over 50% as compared to last year, owing to the increase in demand for housing units in the area. Another trend that the report highlighted is how the demand for 3BHK residences has surmounted this year, with most of these homes being sold for Rs 5000 to Rs 1000 per square foot. This is hardly surprising as the pandemic has eternally altered the paradigms of the housing market, with a noticeable inclination amongst homeowners towards owning spacious homes with world-class amenities.
This growing proclivity towards aspirational living, especially amongst millennial homeowners, who account for a significant portion of the contemporary customer base in the housing market, has led to demand for houses that are not only spacious but also built with luxurious specifications and located strategically. It is the fact that the Dwarka Expressway not only meets these criteria but exceeds them in every aspect that has earned it the status of the most in-demand living district.
For instance, investors seek locations with excellent connectivity, and Dwarka Expressway does not disappoint. As mentioned before, not only does the locale provide an excellent commute route between Delhi and Gurgaon, but it is also located in the vicinity of prominent growth corridors such as Southern Peripheral Road, Sohna Road, Golf Course Extension Road, etc. Not only that, the corridor will also shorten the distance between Dwarka and the industrial corridor of Manesar to 15 minutes.
The proximity to these industrial and commercial hubs, in addition to its proximity to prominent residential enclaves such as those on Pataudi Road, has actualised the expressway into an even greater investment prospect. From the presence of the best social institutions to unparalleled connectivity advantages to being the home of the leading multinational companies in the country, the locale is an unrivalled investment landscape for hopeful homeowners.
The Dwarka Expressway, with its upward trajectory, presents an exciting opportunity for those looking to tap into the growing real estate market in the NCR. Consider it not just as an investment but as a stake in the evolving landscape of one of the most dynamic regions in India.
