Dwarka Expressway set to bring more money into Gurgaon realty market
Dwarka Expressway by Prime Minister Narendra Modi is expected to boost real estate prices in this part of Gurgaon, said real estate experts.
Developers including Sobha, Raheja, Signature Global, M3M, Godrej and Hero Realty have projects along the corridor and some of them are planning to launch more projects as infrastructure development is expected to generate more demand.
«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,» said Anshuman Magazine, chairman, India, South-East Asia, Middle East & Africa, CBRE.
CBRE expects an appreciation in property and land prices in the vicinity in the coming years, offering lucrative returns on investment to early investors. The real estate segment around the expressway is mainly residential, with some retail projects.
«As the expressway undergoes phased development, it is contributing significantly to the progress of city locations, drawing attention from both homebuyers and investors,» said Pradeep Aggarwal, chairman, Signature Global (India) Ltd. «This new expressway would not only provide better connectivity for the close vicinity and locations of SPR (Southern Peripheral Road), New Gurugram and sector 37D at Dwarka Expressway, it would also be a catalyst for price appreciation and promise a bright future for the real estate market in the region.»
The 29-km Dwarka Expressway has been planned to provide an alternative link between Delhi
