August 7, 2024 |
How Dwarka Expressway will Benefit Gurgaon real Estate Market
Dwarka Expressway: The inauguration of the Dwarka Expressway by Prime Minister Narendra Modi is expected to significantly boost Gurgaon’s real estate market, according to experts, who predict a rise in property prices in the area.
As per an ET report, key developers such as Sobha, Raheja, Signature Global, M3M, Godrej, and Hero Realty have existing projects along the corridor, and some are considering launching additional projects due to the expected increase in demand from infrastructure development.
Anshuman Magazine, chairman, India, South-East Asia, Middle East & Africa, CBRE was quoted as saying, “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.”
CBRE expects a rise in property and land prices in the area in the coming years, providing attractive returns on investment for early investors. The real estate sector around the expressway primarily consists of residential properties, along with some retail projects.
Pradeep Aggarwal, chairman of Signature Global (India) Ltd., said that the ongoing development of the expressway is greatly improving city areas, attracting interest from homebuyers and investors. This new expressway will enhance connectivity for nearby locations like SPR (Southern Peripheral Road), New Gurugram, and sector 37D at Dwarka Expressway, leading to increased property values and a promising future for the real estate market in the region.
The 29-km Dwarka Expressway was designed to create an alternate route between Delhi and Gurgaon, aiming to alleviate traffic congestion. Since its inception, developers have eagerly acquired large land parcels and launched numerous housing projects along the expressway. Santhosh Kumar, vice chairman of Anarock group, remarked that investors view it as one of the most promising and rewarding investments.
According to Anarock, approximately 53,030 housing units were launched in the region between 2013 and 2023, covering various budget segments. Additionally, more than 10,515 housing units are anticipated to be completed and available for possession within the next two years.
Aman Sarin, CEO of Anant Raj Limited, views the Dwarka Expressway as a transformative event, particularly for the National Capital Region, with Gurgaon poised to reap significant benefits from its development.
Source : MSN
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