Mint Explainer: Will the Dwarka Expressway change the face of Gurugram?
₹3,100 crore have been acquired by real estate developers since 2022 in the area, JLL said. According to Anarock Property Consultants, the area's robust development and high demand, coupled with ongoing infrastructure improvements, are attracting both end-users and investors. A lot of projects are already in various stages of development, and there is huge potential for future development.
Retail and commercial office developments are also expected to pick up in the future. Roughly 4,000 km of Centre-funded, NHAI expressways are currently operational. There are state-controlled highways, too.
The ministry of road transport and highways has ambitious plans under Vision 2047 to construct 50,000 km of access-controlled highways or expressways, supplementing the expressways currently in use. This initiative aims to enhance travel efficiency, reduce fuel consumption, and lower logistics costs, with completion targeted within 10-14 years after Cabinet approval. Prime Minister Modi underscored this commitment by laying the foundation stone for 112 national highway projects across India during his visit to Gurugram on Monday.
The Dwarka Expressway area, previously known for mid-income housing, is now witnessing a shift towards more premium developments. The improved connectivity and the allure of condominium living are particularly appealing to investors and buyers from Delhi. JLL notes that nearly 38% of the 11,270 new housing units launched in 2023 in the Dwarka Expressway-New Gurugram cluster were priced above ₹2.5 crore.
Read more on livemint.com
