How the Gurgaon real estate market will gain from the Dwarka Expressway
Dwarka Expressway: Experts believe that Gurgaon’s real estate market will get a big boost following Prime Minister Narendra Modi’s opening of the Dwarka Expressway, leading to an increase in the area’s property values.
Important developers along the corridor, including Sobha, Raheja, Signature Global, M3M, Godrej, and Hero Realty, have ongoing projects, and others are thinking about starting new ones because of the anticipated rise in demand from infrastructure development, according to an ET story.
“With the expressway now complete, we are witnessing a promising downturn in unsold inventory levels in these sectors, from a significant 25-30% eight to 10 years ago to a mere 7-8% now,” stated Anshuman Magazine, chairman, India, South-East Asia, Middle East & Africa, CBRE.
In the upcoming years, CBRE anticipates that land and property values in the area will improve, offering early investors competitive returns on their investment. The majority of the properties in the real estate sector surrounding the highway are residential, while there are also a few retail developments.
The chairman of Signature Global (India) Ltd., Pradeep Aggarwal, stated that the expressway’s continuous construction is significantly enhancing urban areas and drawing interest from investors and homebuyers. The Southern Peripheral Road (SPR), New Gurugram, and sector 37D at the Dwarka highway will all have better access thanks to this new highway, which will raise property values and bode well for the local real estate market.
The purpose of the 29-kilometer Dwarka Expressway is to relieve traffic congestion by providing an alternative route between Delhi and Gurgaon. Developers have hurriedly taken possession of sizable land lots and started a number of house developments beside the motorway since its establishment. Investors consider the Anarock group to be among the most profitable and exciting investment opportunities, according to vice chairman Santhosh Kumar.
Anarock estimates that between 2013 and 2023, 53,030 dwelling units across a range of price points were introduced in the area. Furthermore, it is projected that about 10,515 dwelling units will be finished and ready for occupancy in the next two years.
The Dwarka Expressway, according to Anant Raj Limited CEO Aman Sarin, is a game-changer, especially for the National Capital Region, where Gurgaon stands to gain a lot from its expansion.
