Dwarka Expressway & Golf Course Extension Road Property Markets Heat Up Ahead of Festive Season

With the property markets of Dwarka Expressway and Golf Course Extension Road witnessing unprecedented momentum ahead of the festive season, Gurugram’s real estate sector is on a roll.

The Gurugram property market has refused to slow down. According to independent market estimates, post-pandemic, property prices have grown at a CAGR of 15-20%. While some real estate observers call this market investor-led, others believe the demand is end-user driven. However, developers and property consultants are optimistic that the city can afford the existing price points and will continue to invest for reasons like lifestyle elevation, wealth creation and rental income. As a result, developers have lined up for project launches to tap into this festive season exuberance.

According to a report by data analytics firm PropEquity, between July 2021 and July 2024, the city’s most bustling micro markets where a majority of new launches are happening – Dwarka Expressway and Golf Course Extension Road have seen weighted average price of new launches rise by 101% and 53%, respectively.

The report stated that during this period, the weighted average price of new launches along Dwarka Expressway rose from Rs 8630 psf to Rs 17357 psf while the same in Golf Course Extension Road has increased from Rs 13250 psf to Rs 20268 psf.

Source: PropEquity

Talking about the growth prospects of Dwarka Expressway and Golf Course Extension Road, Amar Sarin, MD & CEO of TARC Ltd, says, “As the festive season approaches, the real estate markets along Dwarka Expressway and Golf Course Extension Road are witnessing unprecedented momentum. These regions, now seamlessly integrated into the infrastructure of both Delhi and Gurgaon, are becoming prime destinations for discerning homebuyers and savvy investors. With state-of-the-art amenities, strategic connectivity and a growing corporate presence along Golf Course Extension, these micro-markets are rapidly emerging as hotspots for luxury housing. The festive period, traditionally a catalyst for real estate demand, is further elevating interest, solidifying these areas as Gurgaon’s next growth hubs.”

Gurgaon-based luxury developer 4S Developers says that owing to good returns, excellent connectivity and infrastructure developments, Dwarka expressway has become extremely lucrative.

Sanjoo, MD of the Gurugram-based 4S Developers, says, “Dwarka Expressway has emerged as a prominent micro market in NCR. With its operationalisation, a major shift in population is being witnessed especially from the south-west part of Delhi owing to its new-age amenities and world-class infrastructure which includes connectivity to the International Airport, Delhi-Mumbai Expressway and the industrial and employment hubs in Gurugram. We look forward to this micro market for our future expansion in view of its excellent connectivity and liveability.”

Madhur Gupta, CEO of Hero Realty Pvt Ltd, says, “Dwarka Expressway’s robust infrastructure development, featuring world-class amenities and transportation networks, has made it the most sought-after real estate destination. This region has witnessed a 79% price surge over the last five years, highlighting its exceptional investment potential. The growing demand for high-end residential and commercial spaces in the NCR has driven up property values, rendering the Dwarka Expressway a lucrative investment opportunity for both investors and end users.”

The Dwarka Expressway was envisioned in 2006 and officially opened in 2024. Spanning 29 kilometers, this 8-lane elevated urban expressway serves as a vital connection between Dwarka in Delhi and Gurugram, providing an alternative route to NH-48. Together with the Southern Peripheral Road (SPR) and the Central Peripheral Road (CPR), it creates a comprehensive corridor that facilitates seamless travel. Additionally, the Golf Course Extension Road, which is part of the SPR, connects the Golf Course area to Sohna Road.

While a few property consultants attribute the exponential rise in prices to the presence of investors in large numbers, some say that developers are adding new-age amenities in layouts to premiumize their residential complexes.

Vijay Harsh Jha, Founder and CEO of property brokerage firm VS Realtors, says, “The availability of open and green spaces, low-density living, safety, club with indoor games and swimming pool are among the amenities that today’s youth want, and these are important factors for rise in demand, price and habitation in Dwarka Expressway and Golf Course Extension Road.”

Dwarka Expressway and Golf Course Extension Road have emerged as noteworthy micro markets which are attracting considerable interest from affluent homebuyers, primarily due to their connectivity. Easy commute to office and entertainment avenues within Gurugram, accessibility to other parts of Delhi-NCR via Gurugram-Sohna Expressway, NH-48, Delhi-Mumbai Expressway, Dwarka expressway and Indira Gandhi International Airport, have made these micro markets extremely sought-after. The Global City, which is being developed by HSIIDC, proposed Cyber City-2 and metro will also be easily accessible from these micro markets. The upcoming UER-2, which will connect NH-44 and NH-48, will further make commuting easy.

According to the PropEquity report, during this period, the two micro markets saw 20,786 units launched while sales stood at 19692 units.

The Dwarka Expressway witnessed 14369 units launched between July 2021 and 2024 while Golf Course Extension Road saw 6417 units launched during this period. The absorption in the former stood at 12707 units during this period while the absorption in latter stood at 6985 units.

Source : FE