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Gurugram, often known as the “millennium city,” has seen tremendous infrastructure development, which has contributed to an extraordinary rise in the real estate market. One significant factor contributing to this expansion is the much awaited opening of the Dwarka Expressway, which sparked a spike in market activity.
The Dwarka Expressway area’s property values are increasing, albeit not as quickly as other well-established micromarkets in Gurgaon. Talking about it Senior vice president of BPTP Group Rohit Mohan states, “A surge in demand for real estate investments is being unlocked by the near completion of the expressway.”
The Excellent Connectivity And Major Hubs Drawing Investors
Both investors looking for a key location and homeowners are drawn to this excellent connection. Major housing developments, business centers, retail centers, and soon-to-be SCOs (shop-cum-offices) are all contributing to the region’s rise.
Promising as a startup hotspot, Dwarka Expressway will support the expansion of the finance, e-commerce, prop-tech, and healthcare industries. This amounts to a profitable investment opportunity with significant potential for capital appreciation and rental revenues.
What Makes Dwarka Expressway One Of The Fastest-Growing Micro Markets?
The sections 73–95 and 102-113 make up the environs of the 8-lane expressway. With 6470 total dwelling units, sector 83 is one of the fastest-growing micro markets in the area. The top 5 micro-markets in the region are sec 83, 104, 88, 91, and 99.
The industry shows a 6.5% CAGR from 2018 to 23 with an average PSF of 7271. The captivating rise of Gurgaon has led to an increase in house price trends in these cro-markets. Sec. 99 has the lowest trend in house prices, starting at Rs. 4570/sq. ft. in January 2018 and rising to Rs. 8437/sq. ft. in January 2023.
The Adjacent Sectors Along With The Dwarka Expressway Are Gaining Projects
Property values and rental rates have skyrocketed as a result of the rapid urbanization, making it unaffordable for many. The areas near the newly opened Dwarka expressway include new residential, commercial, and retail hubs, offering the benefit of relatively quiet neighbourhoods with smooth traffic. The roads have less congestion than other significant parts of NCR, according to Mohit Goel, MD of Omaxe Group.
Nayan Raheja of Raheja Developers adds, “The adjacent sectors along the expressway are gaining prominence with residential projects. The rates of projects in these rising sectors have mounted and are experiencing excellent capital appreciation. Residents in the region can enjoy a modern lifestyle away from the bustle of the city.”
How Dwarka Expressway Becomes The Real Estate Hub?
The areas are well-liked by middle-class households since they are close to the IGI airport, Dwarka, and Delhi. “The micro-markets across the expressway are one of the key growth drivers for the booming real estate industry,” says Vidush Arya, head of strategy at Orris Group.
The sectors are connected to well-known centers like Cyber Hub, GCR, Udyog Vihar, etc. via NH-48. The need for contemporary retail in the area is further fueled by the large number of houses in and surrounding these sectors.
“Dwarka Expressway becomes a realty hotspot as the need for commercial activity grows, opening the door for different industries and bringing in a new economic environment to the area.
Rajjath Goel, managing director of MRG Group, says, “The city is also a heaven for shopaholics & partygoers, with many malls, F&B restaurants, shopping arcades, nightclubs, food-cum-entertainment zones, etc.
Source-ET
