Narendra Modi’s inauguration of Dwarka Expressway Haryana segment has ushered in a new era for the region’s real estate market. The 19-km-long eight-lane Expressway connecting the Delhi-Haryana Border with Kherki Daula and the 10-km-long six-lane Urban Extension Road-II linking Nangloi-Najafgarh Road with Sector 24 Dwarka is not only an infrastructure milestone, but also a boon to the real estate industry. The report shows a significant increase in the value of property along the Dwarka Expressway. This marks a major shift in Gurgaon’s real estate market dynamics.
Geetanjali Homestate has released a detailed report that shows the property market in Gurgaon is on a positive trend. The average price of a property on the Dwarka Expressway in the fourth quarter of 2023 ranged from Rs 11,300 to Rs 11,700 a square foot. This represents a significant increase over the Q4 2022 figures, which were Rs 9,600 – Rs 10,000. This growth is not only a 6.5% increase quarter-on-quarter, but also an impressive 14.3% growth year-on-year.
Industry leaders were asked for their insights to understand the impact expected on the real-estate sector. Vivek Singhal commented: “The highly anticipated Dwarka Expressway represents a major shift in the dynamics of the region’s property market.” This corridor will not only improve connectivity but also elevate the living experience. It will attract discerning buyers and smart investors to the forefront. Property values have been steadily rising, especially in Sector 113, with an impressive price increase in recent quarters. This reflects the growing demand for luxury spaces that combine functionality and luxury. Homebuyers today are looking for more than a home; they want a lifestyle with exclusive amenities such as expansive leisure areas, gyms, and other features. These trends will define the real estate market in 2024 as disposable incomes increase and the number of high-net worth individuals increases.
Vineet Dwar, senior VP of sales and strategy at Elan Group, said, “Dwarka Expressway is one of the most promising locations, as its strategic location, exceptional connectivity, flourishing corporate environment, and its attractiveness for real estate investment are all factors that contribute to its appeal.” The promise of unmatched connectivity and convenience on the expressway has already led to a surge in demand. This is particularly true in Sectors 84 and 106 where there was a 27% and 12% year-on-year increase in the last quarter. This trend is a testament to those who are looking for a home that reflects their lifestyle and ambitions, not just a house. We at Elan are dedicated to providing luxury spaces that meet the rising expectations and aspirations of modern buyers.
Aman Nagar said that the Dwarka expressway will bring about a change in the real estate scene of the area. Improved connectivity and infrastructure in the region are expected to attract businesses and investors. This will lead to a rise in demand for commercial property. It is expected that the shorter travel time between Delhi, Gurgaon and other markets will facilitate access and growth. The demand for retail and office space will increase as businesses compete to gain a foothold. Investors and developers will have opportunities to build retail and hospitality projects as the local economy grows.
Rahul Singla of Mapsko Group said: “In the last few years, Gurgaon’s residential market has experienced an exponential growth. The regions in and around Dwarka Expressway are the hottest residential real estate spots and most sought-after land parcels throughout the NCR. The reasons for this include a number of factors, including sustained economic growth, favorable interest rate movements, positive consumer sentiment and a focus on urbanization. It is possible to predict with reasonable certainty, based on current market trends and the growing demand for luxury housing as well as affordable housing, that the accelerated growth of the residential market will continue within the next few years.
Nayan Raheja, Raheja Developers, says: “The inauguration of NCR’s most-awaited development of connectivity, Dwarka Expressway has been an important move for us, as it has raised the real estate markets of the sectors along this stretch.” This development not only improved commutes to the capital, but also increased investments in both commercial and residential projects. The Expressway, which has been a major factor in the growth of the economy and the attractiveness of the region, has seen a huge increase in the value of property since construction began.
Amit Gupta of the Orris Group stated that “Dwarka Expressway is a welcome development for Gurugram’s real estate as it has had a significant impact on the growth of the region among investors.” Its ease of access has attracted both buyers and developers to Gurugram. Several sectors on the stretch have benefited from the development. It has also improved connectivity to important corridors such as the proposed Delhi-Jaipur Super Expressway and IGI Airport. This makes it a location that is worth investing in.
Rohit Mohan said that the Dwarka Expressway will revolutionize real estate by reducing travel times between Delhi and Gurugram. Property prices are rising due to the increasing demand of both residential and commercial property. Sector 37D is a promising area for investors. The strategic location along the busy Dwarka Expressway is highly attractive for both investors and buyers. Sector 37D has seen a rise in interest due to its improved connectivity and access, as well as the anticipation of future developments. The demand for property in this area is increasing, and it could offer substantial returns. “Investing in Sector 37D offers a great opportunity to profit from the growing real estate market of Gurugram.”
Sachin Gawri is the founder and CEO of RISE Infraventures. He said that the opening of Dwarka Expressway, by our Prime minister, was one of the most anticipated developments in Gurugram real estate. The expansion has greatly boosted the appeal of the area among investors. The ease of access to Gurugram by the Dwarka Expressway has led to a boom in developers and investors. This has encouraged investors to visit different areas of Gurugram. This section offers easy access to important locations such as the IGI Airport and promises a high return on investment.
Pradeep Aggarwal is the founder and chairman of Signature Global (India). He said: “The unveiling the Gurgaon section of the Dwarka Expressway represents a significant landmark for the real estate industry and the Millennium City. It radiates optimism and growth. The project is a state-of the-art eight-lane expressway that connects Delhi and Gurugram, reshaping Gurgaon’s property market. This project is a testimony to the government’s commitment to creating a dynamic city centre. The expressway is being developed in phases, and it has a significant impact on the development of the entire city, attracting attention from homebuyers as well as investors. This new expressway will not only improve connectivity between SPR, New Gurugram, and Sector 37D, but it will also be a catalyst to price appreciation, and promise a bright future for real estate in the area.
SK Narvar said that the Dwarka Expressway was one of Trident Realty’s major infrastructure projects. It not only improves connectivity between Delhi Gurugram, but it also creates new opportunities for development in real estate. Infrastructure development brought about by the expressway is expected to give a major boost to the economy of the region. The improved connectivity and accessibility will lead to significant value growth for the developments along the route. The improved infrastructure and connectivity attracts investors and potential home owners, driving demand for residential and commercial property. This increase in demand not only changes the landscape of real estate but also fosters economic development, creating an environment that is conducive to growth and investment.
Whiteland Corporation MD Pankaj Pal said: “The inauguration by Prime Minister Narendra Modi of the Gurgaon section of the Dwarka Expressway heralds the dawn of a new era in the real estate industry of the region. This groundbreaking infrastructure project is not only a sign of enhanced connectivity, but it also acts as a catalyst to spur the growth of the real estate sector in Gurgaon. Dwarka Expressway’s strategic linkage between Shiv Murti, near IGI Airport, and Kherki Daula Toll is set to redefine accessibility and convenience for residents, making Gurgaon an ideal destination for property investments. This eight-lane elevated expressway is a marvel in modern engineering. It not only provides a seamless commute from Gurgaon to New Delhi, but it also drives up property prices. This Rs 9,000-crore infrastructure project demonstrates the government’s commitment to economic development, and create a conducive real estate market.
Vipin Sharma is the founder and chairman of Aarize Group. He said: “We envision a transformational power in projects such as the Dwarka expressway which represents a paradigm change in connectivity and infrastructure. This development, which has an investment of Rs. 9,000 crores, not only connects Gurugram to Delhi seamlessly but also stimulates the growth of the real estate industry. Urban mobility is undergoing a transformation. The past hurdles are being overcome and present opportunities are being taken advantage of.
Connectivity is not only attractive to investors, but it also promotes urban development that creates vibrant communities. This unlocks immense economic potential. We are a real estate developer who supports such initiatives because they benefit not only the growth of real estate, but also the prosperity and livability in the region.
Ashish Sharma AVP Operations, Brahma group, said: “The Prime Minister Narendra Modi’s inauguration of the Dwarka Expressway 19 km stretch marks a landmark in the development of the region. The new road will reduce the travel time between the different parts of the cities and improve commutes for travellers. This much-anticipated infrastructural project will also be a catalyst to the rapid growth of the economy in the region. The region has seen a dramatic revival with the development of premium complexes and integrated recreational facilities. The new launches along the route have also led to an increase in demand for properties. Developers are aware of the enormous potential of this corridor, as it promises a new age of prosperity and attracts both domestic and foreign investors. This development will open up new business and commercial opportunities in the area, which will have a positive effect on the real-estate market.”
Sanjoo Bhadana, MD of 4S Developers, said:The Dwarka Expressway’s opening has been the subject of much discussion, and it is heralding a new era in the real estate and connectivity industries of the region. It is the first Indian expressway to be built with multiple underpasses and service roads of 18 km length. This shows the priority our country places on world-class infrastructure development. This major highway will reduce the travel time from Delhi to Gurugram by 30 minutes. The road is designed to accommodate all transport services and to provide for the growing population. The road includes underpasses as well as tunnels, flyovers, and elevated structures. These are designed to be efficient and convenient for road users.
The event, which was held in Gurugram on November 15, showed the commitment of the government to infrastructure development. Section 144 had been imposed by the Gurugram Police to ensure safety. Gurugram’s future is bright as the real estate industry prepares for a boom.