Dwarka Expressway set to transform into a sub-city
Real estate projects along the Dwarka Expressway are synonymous with a modern lifestyle, offering a range of amenities such as clubhouses, swimming pools, gyms, sports facilities, gardens, and 24-hour security
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New Delhi: The Dwarka Expressway, known as the Northern Peripheral Road (NPR), is poised to become a significant growth engine and a fully-fledged sub-city as part of the Development Plan 2031 for the Gurgaon Manesar Urban Complex (GMUC). This roadway, developed as a northern ring road, serves as an essential link between Gurgaon and Delhi, offering an alternative route to the existing NH 8.
The demand for the completion of the Dwarka Expressway has been steadily increasing due to the rising traffic between Delhi and Gurgaon on NH 8 and other road networks. Initially planned in 2006 by the Haryana Urban Development Authority (now known as Haryana Shahari Vikas Pradhikaran or HSVP), the project aimed to create an 18-kilometer stretch between Kherki Dhaula and Najafgarh Road as an alternative to NH-48.
Originally referred to as the Northern Peripheral Road (NPR), the project initiated several real estate ventures by the early 2010s. However, by 2014, only 16.6 kilometers of the project had been completed, with work on critical sections at Kherki Dhaula and Bajghera facing delays due to legal disputes. In 2017, the project was handed over to a central agency, which decided to extend the Dwarka Expressway all the way to Shiv Murti near Mahipalpur in Delhi.
Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, commented, "The Dwarka Expressway signifies a pivotal development in enhancing connectivity within the Delhi-Gurugram region. It goes beyond being a mere transportation link, acting as a significant catalyst for economic and infrastructural revitalization. The completion of this expressway is set to redefine the real estate landscape in its vicinity. The anticipation surrounding the expressway over the last decade has already spurred a surge in residential development, particularly in sectors bridging Gurugram and Delhi. With the expressway now operational, we are witnessing a promising reduction in unsold inventory levels in these sectors, from a notable 25-30% 8-10 years ago to a mere 7-8% now. Several sectors, such as sector 84, have seen connectivity to sectors 109, 110, and 113, where numerous residential projects have been launched in the past decade, especially in anticipation of the Dwarka Expressway."
The strategic positioning of the Dwarka Expressway, an eight-lane access-controlled roadway, traverses through key residential and commercial hubs. This development is expected to ease traffic congestion and substantially reduce travel times between Delhi and Gurgaon. Consequently, a notable appreciation in property and land prices in the area is anticipated, offering potentially lucrative returns on investment for early investors. Additionally, the expressway's proximity to significant developments and the planned extension of the Delhi Metro Magenta Line further enhances its appeal, making it a focal point for real estate investment. Improved infrastructure and connectivity are also likely to boost demand for rental properties in the region.
Real estate projects along the Dwarka Expressway are synonymous with a modern lifestyle, offering a range of amenities such as clubhouses, swimming pools, gyms, sports facilities, gardens, and 24-hour security. These features, combined with excellent connectivity, attract both buyers and renters, ensuring sustained demand and high occupancy rates. The seamless integration of luxury living and connectivity not only enhances the living experience but also solidifies the area's allure as a prime real estate investment destination. The Dwarka Expressway is poised to revolutionize the real estate market in the Delhi-Gurugram corridor.
The real estate segment along the Dwarka Expressway is primarily residential, with some retail projects. The impact on property pricing has been significant, with considerable appreciation observed across various residential segments, particularly in the premium and luxury segments.
The Haryana government is working on Phase 1 of the Global City project, spread across 1,000 acres along the Dwarka Expressway. This mixed land-use project in Gurugram will feature residential and commercial spaces with modern infrastructure and utilities.
• Rapid Rail Transit System (RRTS): NCRTC plans to construct a 107km stretch from Sarai Kale Khan in Delhi to Shahjahanpur-Neemrana-Behror (SNB) Urban Complex through Gurugram, Manesar, Panchgaon, and Rewari. The Kherki Daula station of the RRTS will be located at the intersection of NH-48 and Dwarka Expressway.
• Metro: An elevated metro corridor, 28.5km long with 27 stations, is planned. Dwarka Expressway will also have a station near Sector 101.
• Roads: Six-laning of Atrial Road from Umang Bhardwaj Chowk to Dwarka Expressway is in progress.
• UER-2 Project: Aimed at decongesting Delhi, this project is being developed by NHAI and will cost Rs 7,715.6 crore.
• Transport Hub: An ISBT is proposed in Kherki Daula in Kherki Daula (located at the intersection of NH-48 and Dwarka Expressway)
