NEARING COMPLETION DWARKA EXPRESSWAY BOOST TO HARYANA’S REALTY

BY Realty Plus

The final phase of the construction process for the Haryana segment of the Dwarka Expressway is currently underway. This 18.9 km portion of the roadway, which constitutes a significant portion of the overall 29 km length, will serve as a vital connector between Shiv-Murti near IGI Airport and Kherki Daula toll in Gurugram via Dwarka. The Expressway will feature 16 access-controlled lanes, and a three-lane service road will be included to facilitate traffic flow. Notably, this will be the first elevated urban expressway in the country.

The construction of Dwarka Expressway has been a long-awaited project, with several delays and legal hurdles. However, the Haryana government's efforts in speeding up the construction have finally paid off, and the expressway is now nearing completion. The project's completion is expected to significantly improve connectivity between the national capital region (NCR) and Gurgaon, Haryana's business hub.

Aman Trehan, Executive Director, Trehan Iris said "The mega infrastructural development enhancing the connectivity of Gurugram within and other parts of NCR has been playing a key role in the growth of the city's realty market. Gurugram's micro-markets are proving their mettle as an investment-friendly zone attracting buyers and investors. Dwarka Expressway is one of the promising realty corridors in Gurugram. Besides enhancing the connectivity quotient of the city, the opening of the expressway will bring a significant impact on the realty market of Gurugram. The enhanced inter-state connectivity to the national capital will augur well in boosting the realty demand. Gurugram's housing market has witnessed a significant price appreciation of approx. 13 percent in the last year. Besides, commercial leasing across the office and retail space are also picking up with healthy demand with great return on investments and higher rental yields. The opening of the Dwarka Expressway will further propel the realty market and we expect Gurugram to witness price appreciation between 20 to 40 percent in and around the Dwarka Expressway corridor."

The expressway is expected to boost the region's economy, generating new job opportunities, and stimulating real estate growth. The project's completion is a testament to the government's commitment to boosting infrastructure development and promoting the growth of the region.

Santosh Agarwal, Executive Director and CFO, Alpha Corp said, “Once complete, the stretch will provide faster access to the IGI airport and major parts of Delhi. The completion of the expressway will not only benefit the developers and the buyers but will also give a new ray of hope to the real estate market of Gurugram. The developments around Dwarka Expressway are a mix of residential and commercial set-ups which will see a high rate of appreciation because of seamless connectivity of that area. The response to the realty projects on Dwarka Expressway has been phenomenal as the buyers have started to realize the potential this area holds.”

The expressway's completion will also lead to a boost in the real estate sector, with new commercial and residential developments expected to come up along its length. Additionally, the expressway is expected to provide a major fillip to the logistics and transportation sectors, thereby boosting overall economic growth.

Commenting on the development, Pradeep Aggarwal, Founder & Chairman, Signature Global said, "NCR's real estate sector is abuzz with excitement as the opening of the much-awaited Dwarka Expressway is set to take place in June 2023. The real estate projects in this coveted locality have recently witnessed a surge because of its strategic location, matchless connectivity, and state-of-art infrastructure. Thus, Dwarka Expressway has become a magnet for people looking for a modern luxurious integrated lifestyle. Residential spaces in Dwarka Expressway are selling faster and at higher prices than before the pandemic. Furthermore, with several thousand families looking to move to Dwarka Expressway, this game-changing thoroughfare is becoming a hub for millennial homebuyers looking for a good lifestyle. With demand soaring and showing no signs of slowing down, land prices in the region have already soared by double digits over the past year. We are confident that the Dwarka Expressway real estate market will remain an investor’s favorite for the perceivable future".

Tags : Dwarka Expressway Haryana Realty segment growth NCR property developers construction process roadway Gurugram Aman Trehan Executive Director Trehan Iris