NewsVoir
New Delhi [India], August 29: Dwarka Expressway, one of the most anticipated real estate corridors in the National Capital Region (NCR), has witnessed an unprecedented price surge of 79% over the past five years. This rise is attributed to the region's rapid infrastructure development, improved connectivity, and an influx of investments. The data, provided by Anarock Property Consultants, reveals that the average price per square foot has jumped from Rs5,359 in 2019 to over Rs9,600 by mid-2024, establishing Dwarka Expressway as one of India's most lucrative real estate micro-markets.
Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd. said, "The real estate markets have witnessed unprecedented property price appreciation across key micro-markets in Gurgaon. While Dwarka Expressway has recorded a staggering 79% property price increase in the last five years, New Gurugram has also shown a significant 48% price increase during the same period. This indicates a robust demand in the region which have been bolstered by improved connectivity and infrastructure development. The appreciation in the property price of Dwarka Expressway and New Gurugram micro-markets underscores the growing attractiveness of the NCR as a destination for premium housing. Better connectivity, improved infrastructure and state-of-the-art social amenities, have contributed towards the rise in demand for premium residential real estate by homebuyers. Both Dwarka Expressway and New Gurugram have emerged as the preferred destination for premium housing investments in NCR. Speaking on the future trends, both these micro-markets are well-poised to witness further property price appreciation as their strategic location and modern infrastructure facilities lead to higher liveability standards in the near perceivable future."
Dwarka Expressway, also known as the Northern Peripheral Road, spans approximately 29 kilometers, linking Dwarka in Delhi with Gurgaon in Haryana. The strategic location, combined with the expressway's direct access to the Indira Gandhi International Airport and the Delhi-Mumbai Expressway, has made it a magnet for real estate development. With commercial, residential, and retail projects mushrooming along the corridor, it is quickly becoming a preferred destination for both end-users and investors.
Rohit Mohan, Senior Vice President, BPTP said, "Gurgaon continues to be the top-ranked location for premium residential markets across Delhi NCR, with impressive growth figures. Notably, Dwarka Expressway has emerged as the epicenter of this real estate boom. According to recent data, Dwarka Expressway has witnessed a staggering 79% surge in property prices over the past five years, underscoring its significance as a key transit-oriented corridor offering seamless connectivity to the national capital. In 2024, this area has solidified its reputation as a hotspot for premium housing, with prices rising close to 35% QoQ, a remarkable feat post-pandemic. This price appreciation is driven by a robust demand for luxury residences, featuring state-of-the-art amenities and spacious designs that cater to evolving homebuyer preferences. The continued infrastructural development and new premium project launches along the corridor are expected to further fuel this upward trend, making Gurgaon, particularly Dwarka Expressway, a prime destination for real estate investments."
The price appreciation along Dwarka Expressway is a testament to the area's potential as a real estate hub. With ongoing infrastructure projects and a robust demand from homebuyers, this region is set to witness sustained growth in the coming years.
Vipin Sharma, Founder & Chairman, Aarize Group said, "The remarkable 79% price surge along Dwarka Expressway over the past five years is a testament to the region's burgeoning infrastructure and strategic importance in the NCR. This growth not only highlights the area's potential for future development but also reflects the increasing demand for quality residential and commercial spaces. We see this as a golden opportunity to cater to discerning buyers seeking premium environments, ensuring that our projects align with the evolving needs and aspirations of this dynamic market. The Expressway's connectivity enhancements make it a prime investment destination in the NCR."
Key Drivers of Growth
The dramatic rise in property prices can be attributed to several factors. Firstly, the completion of the expressway itself, which has been a long-awaited development, has significantly improved connectivity between Delhi and Gurgaon. Secondly, the area has seen a substantial increase in infrastructure investments, including new schools, hospitals, and shopping complexes, further enhancing the attractiveness of the region.
Pankaj Pal, Managing Director, Whiteland Corporation, shared his insights, "The Dwarka Expressway has emerged as one of the most dynamic real estate corridors in the Delhi NCR, witnessing an impressive 79% price surge over the past five years. This surge underscores the region's growing appeal among high-net-worth individuals. The micro-market has not only seen a substantial year-on-year increase but has also outpaced the national average, with luxury residences experiencing a significant 30% annual price appreciation. The strategic location, coupled with enhanced connectivity to key commercial hubs in Gurgaon, has made the Dwarka Expressway a prime destination for luxury real estate. As infrastructure developments continue and new projects are launched, we anticipate sustained demand and price growth, making this corridor a focal point for refined buyers and investors looking to capitalize on long-term asset appreciation."
Industry experts believe that the demand for residential properties along Dwarka Expressway will continue to rise, driven by the ongoing shift towards suburban living post-pandemic. With more people prioritizing larger living spaces and green environments, areas like Dwarka Expressway offer the perfect blend of connectivity and lifestyle amenities.
Santosh Agarwal, CFO and Executive Director of Alphacorp, said, "Dwarka Expressway, driving Gurugram's real estate renaissance, offers unparalleled connectivity and modern infrastructure, and is poised to redefine urban living. The 79 per cent price surge along Dwarka Expressway over the past five years underscores the region's transformation into a premier investment destination within NCR. The future of this corridor is bright as it continues to evolve as a hub, blending strategic location with robust development and making it a cornerstone for future urban development in NCR."
Dwarka Expressway has emerged as a significant growth corridor in NCR. The strategic location, coupled with comprehensive infrastructure development, has fueled both demand and price appreciation. We anticipate this trend to continue as more projects near completion.
Amlan Dutta, VP- Sales & Strategy, Trehan Iris, says, "The Dwarka Expressway in NCR has witnessed a 79% price appreciation between 2019 to H1 2024 in the real estate, driven by increased connectivity, infrastructure and a growing shift towards suburban lifestyle. This increase highlights the growing interest in the region, ranked 4th in terms of price growth across this part of the NCR. Furthermore, as urban landscapes continue to expand, this trend highlights the property market dynamics that elevate the value of strategic locations in the NCR for long-term growth."
The 79% price surge in five years is an extraordinary feat. Dwarka Expressway's rise as a prime real estate destination is indicative of the broader trend of suburban expansion in the NCR. Investors are keen on this area, expecting strong returns in the medium to long term.
S K Narvar, Group Chairman, Trident Realty, says, "The Dwarka Expressway has completely transformed the real estate scene in Delhi NCR, turning it into a hub for luxurious housing. Its strategic connectivity has sparked an unprecedented demand for high-end properties as people seek to take advantage of the top-notch convenience and infrastructure it offers. The expressway's proximity to major business districts, airports, and commercial hubs has only added to this demand, attracting both residents and investors alike. With its modern amenities and utilities, the Dwarka Expressway has redefined urban living, providing a perfect mix of comfort, convenience, and investment opportunities for those seeking a lavish lifestyle."
Future Prospects
Looking ahead, the future of Dwarka Expressway appears bright. The region is expected to benefit from several upcoming projects, including the expansion of metro connectivity and further commercial developments. These initiatives are likely to drive further growth in property prices, making it an attractive investment destination for both domestic and international buyers.
Moreover, the expressway's proximity to key employment hubs in Gurgaon, coupled with its growing social infrastructure, will continue to draw professionals and families seeking a balanced lifestyle. The ongoing development of commercial spaces and office hubs is also expected to create a significant demand for residential properties, driving further price appreciation.
In conclusion, Dwarka Expressway has firmly established itself as one of the most promising real estate micro-markets in the NCR. With robust infrastructure, strategic location, and rising demand, it offers a compelling investment opportunity for those looking to capitalize on the region's growth potential.
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