Luxury re-defined at Dwarka Expressway

With work on Gurgaon Dwarka Expressway in full swing and nearing completion at many stretches, the real estate segment has been registering a lot of activity along the entire stretch these days.

The 18km-long, 150-metre-wide expressway, also called Dwarka Expressway, connects at least 16 new residential sectors and other commercial and entertainment spots. This eightlane expressway is being developed to improve connectivity and create ease of movement towards Gurgaon, and then on to Manesar.

Aiding the whole sector is Gurgaon-Manesar Master Plan-2021, which first triggered development in the area and is proving to be a boon for developers and homebuyers.

Dwarka Expressway with its close proximity to the IGI Airport, Delhi Aerocity, and the forthcoming Diplomatic Enclave is expected to follow the same growth curve as the premium Gurgaon locations like Golf Course Road.

With the increasing number of corporates operating out of Gurgaon, coupled with the limited availability of mid-segment residences in Gurgaon and Delhi, Dwarka Expressway is fast emerging as an attractive alternative for investors and end users.

Dwarka Expressway, also called the Northern Peripheral Road, is being developed by the Huda. With fast developing infrastructure like schools, shopping centres, and hospitals in Palam Vihar, Gurgaon, and Dwarka, which are all close to the expressway, the area is attracting many buyers.

Looking at the huge potential that this belt has to offer, many top builders have come up with luxurious projects in the area.

With skyscrapers and commercial buildings turning Gurgaon into an urban jungle, Dwarka Expressway still offers green serenity with 1,500 acres of lush greenery all across the area.

Arjun Puri, the director of Puri Constructions, says: “The major portion of the expressway on the Haryana side is complete and in some portions the construction is in full swing. We are hopeful that this part will be complete soon. The process of acquiring land on the Delhi side is complete and construction on the stretch will start soon. Once the construction is complete, this stretch will be the real luxury destination of Gurgaon and the NCR. There are several premium and luxury projects lined up on the stretch.“

Looking at the demand, many developers are coming up with high-end luxury projects here. Some of these realty majors include Chintels Group, Emaar MGF, ATS, Vatika, Puri Constructions, Assotech Ltd, Antriksh Godrej Properties, Adani, Tata Housing, Sobha Developers, Raheja Developers, CHD Developers, Microtek, BPTP, Satya Group, Spaze, Paras, Ansal Housing, etc; even new entrants here like Kashish Developers are coming up luxury projects.

Sunil Choudhary, the CMD of Kashish Developers Ltd, says: “We will be seeing some ul traluxury properties coming up in the area with most of these projects expected to be delivered by 2017. All the luxury projects are offering top-of-the-line specifications like ecofriendly gated complex, clubhouse with unmatched amenities, well-designed architecture, ample green spaces, private terraces and splash pools, power back-up, gated complex with three-tier advanced security systems, dedicated play area, etc. Our project offers luxury amenities like engineered wooden and Italian flooring, VRVVRF airconditioning, designer modular kitchens, and bathrooms fitted with high-end fittings.“

Given the proximity of Dwarka Expressway projects to the international airport, Dwarka as well as the forthcoming diplomatic enclave are turning into a hub for luxury residential options.

“This stretch will be the showpiece of the NCR in terms of state-of-the-art homes and retail as well as commercial projects. Typically, across the globe, areas located close to international airports have had an up market suburban feel which reflects in gentrification of the belt as high prices. Delhi is no different with Vasant Vihar, Westend, and Shanti Niketan being the frontrunners in housing the elite; they are also known for very high real estate values.Dwarka Expressway projects will add a whole new dimension here,“ Harinder Dhillon, senior vice-president (Sales and Marketing) of Raheja Developers, says.

As most of the residential properties in the area are in the luxurious category, the prices are on the upper side. Projects of Tata Housing and Emaar are currently selling at Rs 11,500 per sq ft while Puri Constructions with two big projects in the area is selling at Rs 12,000 per sq ft. Raheja Builders, with multiple projects in the area, has projects selling at Rs 8,500 per sq ft. Mahindra’s semi-luxury residential project is near completion and is selling at Rs 8,000 per sq ft while Kashish Developers is selling its ultraluxury project, Manor One, at Rs 8,500 per sq ft. Most of the commercial properties in the area are selling at Rs 12,000 psf.

Jagadish Nangineni, Sobha Ltd’s area head of Delhi NCR, says: “Dwarka Expressway is an alternative access route to Gurgaon from Delhi and is close to the IGI airport. With the entire physical and social infrastructure being developed anew, the developments around it would provide quality life and ultimately have good end-user demand. The sectors along Dwarka Expressway in Gurgaon may be con sidered as good destinations for residential and office space. Considering that it is a developing location, the capital values here are lower compared to Delhi and the developed part of Gurgaon. Thus, it is a good time to consider the properties in this area for investment. International City is a low density villa township with world-class infrastructure and eco-friendly initiatives. It has a state-of-the-art clubhouse over two acres with all modern facilities.“

Sandeep Bedi, the director (Strategy & Systems) of BPTP, says: “With world-class infrastructure and facilities, Dwarka Expressway promises to be a new channel of business and commerce between Delhi and Gurgaon. IGI airport is only 2.5km from the expressway . The improvement in Haryana’s power supply has changed the situation from power shortage in the area to power surplus, as four new power plants have been set up by the government.“

Source: http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/luxury-redefined-at-dwarka-expressway/77159.html