Market activity has seen a spurt, of late, with realtors and buyers anticipating that all the proposed infrastructure, including the completion of Dwarka Expressway and the related amenities in the areas, would be executed by March, 2017.
Real estate activities on both sides of Dwarka Expressway, also known as Northern Peripheral Road, have increased substantially after the expressway was elevated into a National Highway 8A. Now, market watchers and experts are expectant that all the proposed infrastructure, including the completion of the expressway and the related amenities, would be executed by March, 2017.Dwarka Expressway, a 22km-long and 150-metres-wide expressway, connects NH-8 at Kherki Daula, near Manesar Toll Plaza in Gurgaon and UER II in Dwarka, in Delhi. Over 50,000 apartments are under construction in scores of projects along both sides of this alignment.
A number of developers like Rahe ja Developers, Sobha, Mahendra, among others, have already given possession in several residential projects to homebuyers in the sectors contiguous to this expressway.Rohit Vadhera, a resident of Shilas, a residential project of the Raheja group in Sector 109, said that even today the area is well-connected to Delhi through Dwarka.
Rohit said that a 75-metre-wide sector road along Sectors-103, 106, 107, 108, 109, 112, 114, and 115 connects the area to NajafgarhKapashera Road. Around 200 metres before the intersection, another road-Bajghera Road-running through Sectors-112 and 113 and coming from Dwarka Expressway meets the sector road.
From the intersection, if one drives towards Kapashera for around 2-km, a left turn takes one towards Bamnoli Village. The road has now been widened and connects to the 75-metre-wide Golf Course Road in Dwarka, in Delhi.
The driving-time from Sector 108 on Dwarka Expressway in Gurgaon to Golf Course Road in Dwarka is around 15 minutes.
Residents say that with the emergence of new connectivity, one can drive from most of the sectors towards the Delhi Border -from 99 to 115 -on Dwarka Expressway to Delhi in 10-20 minutes, depending on the distance from the Delhi border.
As the projects along Dwarka Expressway were developed in the premium segment, most of them have world-class facilities like shopping malls, schools, hospitals, swimming pools, etc.
The top developers in the region are Raheja Developers, ATS, Tata Housing, Mahindra Life Space, Chintels, Sobha Developers, Puri Constructions, Experion, etc.
Such a hub of ready-to-move-in residential projects-bordering south Delhi-with world-class luxury facilities has opened up new opportunities to buyers. Apart from Raheja Developers and Mahindra Life Space, who have already offered possession to homebuyers, a number of developers like ATS, Puri Construction, Chintels, Experion, among others, have completed the work on their residential projects and are ready to offer possession in a couple of weeks.
Navin Raheja, CMD of Raheja Group, says, “With the widening of the road around Bamnoli village, the region has emerged as a good destination for homebuyers. The area has good social infrastructure like schools, hospitals, shopping centres in the nearby Dwarka sectors.“
Getamber Anand, CMD of ATS and president of CREDAI, says that for all practical purposes these sectors are in Delhi. Brotin Banerjee, MD and CEO of Tata Housing Development Company, said that Dwarka Expressway is fast emerging as a new commercial and residential hub.
“The increasing number of Indian corporates and MNCs operating in this region and its close proximity to urban infrastructure like the Delhi Metro line, IGI Airport, and railway station makes it one of the most preferred destinations for homebuyers who want to invest in property here,“ Banerjee points out.
Prashant Solomon, MD of Chintels India, says, “An ambitious road project of 18-km between Gurgaon and Dwarka in Delhi was to be operational by 2010-it is 2016, and the road is still a year away. The construction of the expressway is important to decongest the traffic on NH-8.However, the area enjoys a good alternative connectivity to Delhi. Once Dwarka Expressway is complete and operational, real estate consultants say that the prices in the region will see a sharp spike.