Dwarka Expressway: TOP REALTY DESTINATION
NRIs, investors, and end users are seeking out residential projects on Dwarka Expressway, as travel time between Delhi and Gurgaon will be cut by nearly half once the remaining work on the expressway is complete. RAVI KUMAR MANGALAM writes.
Dwarka Expressway, which emerged as one of the most sought-after real estate destinations in the National Capital Region, is back on the centre stage after the decks were cleared for resumption of work and speedy completion of the remaining stretch of the high-speed corridor.
Once complete, the expressway will cut travel time between Delhi and Gurgaon by nearly half. The eight-lane highspeed expressway is 150 metres wide and will provide direct connectivity between Delhi and Manesar.
The developers who are implementing projects here played an important role in expediting the whole process of land acquisition and ensuring that the expressway is completed as soon as possible. This will also pave the way for the completion of their respective projects.
Construction of 15km of the 18.5kmlong stretch is already complete while work on the remaining stretch is expected to resume in March.
The Dwarka Expressway will bring Delhi and Gurgaon closer, apart from easing the traffic problems on NH-8, with connectivity set to become smoother and faster. The expressway will also reduce the distance from Gurgaon to the IGI airport considerably. Another positive development is that the toll for commuters between Delhi and Gurgaon will be discontinued, which will further reduce the travel time.
More than 33,000 houses are under construction on Dwarka Expressway, with the completion of the expressway set to open the doors for many more.
NRI investment: The residential projects launched on this e x p r e s s w a y come with world-class facilities and all modern lifestyle amenities. Thus, these projects have attracted the interest of high net worth individuals and NRIs, with realty experts saying that a large volume of transactions here are by this category of investors.
Price appreciation: Projects launched on the expressway four-five years ago at around Rs 2,000 per sq ft are now quoting over Rs 6,500 per sq feet—the appreciation is almost certain to reach Rs 8,000-10,000 per sq ft once the expressway is complete, experts say, adding that this is a prime reason that is attracting investors to the area, including NRIs.
The principal developers on Dwarka Expressway include Ramprastha, BPTP, Puri Construction, Sobha, Chintels, Homestead, among others.
With nearly 1,500 acres in land bank in Gurgaon, Ramprastha Group is one of the largest developers on the expressway. The group has Ramprastha City, one of the first integrated townships on Dwarka Expressway in Sector 37D, Gurgaon—the project is close to the forthcoming Metro station and is in close proximity to the IGI airport.
Spread over 450 acres, Ramprastha City offers row houses, floors, villas, condominiums, and plotted development. Apart from the residential units the integrated township offers a slew of essential and lifestyle facilities like schools, hospitals, corporate spaces, shopping malls, multiplex, hotels, and a multifaceted club with a gymnasium and various other sports facilities.
Launched in 2009, nearly 3,000 flats have been sold in five projects in Ramprastha City, which is now launching Primera, a luxurious residential project with five towers-four of which four have 22 floors and the fifth 25 floors. There are 472 premium condominiums—3BHKs of 1,700 sq ft, and only four units per floor, on offer. The prime features of these are: split airconditioners in each room; double-height fully airconditioned entrance lobby with 24×7 CCTV; in-house club with infinity pool; acupressure walkway in the exquisite gardens; gymnasium, basketball court, and skating rink; recreational facilities like open-air amphitheatre, meditation grove, rock climbing wall,…