Dwarka Expressway : Getting on the fast lane to quick growth

Published on by 7bighagroup

The development of the Dwarka Expressway (New Gurgaon) started with the Gurgaon Master Plan 2021 proposed in 2008. The stretch is known as the Northern Peripheral Road or NPR. The Dwarka Expressway starts from Dwarka and crosses Bijwasan, New Palam Vihar, Kherki Daula and finally meets National Highway 8. Its total length is 18 km, of which land for the construction of 16 km has already been acquired. The government has also assigned work for the construction of the roads. The sectors taken into consideration are 81, 82, 83, 84, 86, 90, 91, 92, 93, 95, 99, 102, 103, 104, 105, 109, 110, 111, 112 and 113.

In recent years, the area has gained significant importance as a residential and commercial destination and has attracted several developers.

Sectors 3A, 88 and 114 have been completely dedicated to commercial and retail developments.
Commercial complexes have also been proposed in sectors 81A, 82A, 83 and 84.

The expressway is also in close proximity to the commercial/ industrial area of Manesar with its 260 large industrial units and 8,000 small units. (Source: Knight Frank)

It is expected that with the expressway becoming operational, the availability of affordable housing options will increase manifold. Ongoing projects In the past few years, leading real estate players like the Raheja Group, BPTP, Vatika Group, SS Group, Tulip Infrastructure, India Bulls Real Estate, etc, are developing their projects at this location. According to a KPMG Analysis, the popular formats in the Dwarka Expressway are varied, including 3BHK and 4BHK, while the 2BHKs are still evolving. Primarily the projects constitute multi-storey buildings, row houses and independent floors and have been designed for middle income groups. Most projects along Dwarka Expressway -currently in the construction phase -are primarily constructed as group housing and provide a number of facilities and amenities. The stretch offers affordable housing options and attracts much of the demand from those living in mid-sized housing in Gurgaon.
With popularity of this area peaking in 2010, projects then were offered in the range of R2300 per sq ft to R2400 per sq ft, but are now currently offered in the range of R3300 to R3500 per sq ft. This requires a total investment of R49 lakh to R52 lakh, depending on the apartment size.
(The figures are calculated on the basis of 1500 sq ft area)

Currently, the entire area is in the construction phase and lacks basic civic amenities. The sector roads and connectivity roads are also under construction at the moment.
The road ahead Most ongoing projects here were launched during 2008-2010 and are expected to be completed by 20122014. The area is likely to benefit greatly from the expressway. Source HT ESTATE


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