The Dwarka Expressway real estate market has witnessed a significant surge in property prices, reflecting a positive trend in the overall real estate scenario, as indicated by the latest report from Property Consultants. The report sheds light on the impressive appreciation in property values across various sectors on Dwarka Expressway, providing valuable insights into the evolving landscape of Gurgaon’s real estate.
In Q4 2023, the overall average property price on Dwarka Expressway ranged between Rs 11,300 and Rs 11,700 per sqft, showcasing a substantial increase compared to the average prices of Rs 9,600 to Rs 10,000 per sqft recorded in Q4 2022. The Q3 2023 average prices stood at Rs 10,500 to Rs 10,800 per sqft, indicating a noteworthy quarter-on-quarter growth of 6.5% and a commendable year-on-year growth of 14.3%.
Property Consultants, commented on the findings, stated, “The robust growth observed in Dwarka Expressway’s real estate market reflects the resilience and attractiveness of this region. The year-on-year surge in property prices is a testament to the sustained demand for quality properties in the area. This report serves as a valuable resource for investors, homebuyers, and developers seeking insights into the evolving trends along Dwarka Expressway.”
Property Consultants report delves into the specific trends observed in various sectors along Dwarka Expressway:
Sector-37D, Gurgaon: Offering residential apartments in the mid-income budget segment, Sector-37D experienced significant year-on-year growth of 36.8%, with property prices averaging between Rs 12,000 and Rs 13,000 per sqft in Q4 2023. The quarter-on-quarter growth was 1.4%, as opposed to prices ranging from Rs 11,800 to Rs 11,950 per sqft in Q3 2023 and Rs 7,500 to Rs 8,000 per sqft in Q4 2022.
Sector 36A, Gurgaon: This premium sector near Dwarka Expressway witnessed a substantial increase in average property prices, ranging from Rs 13,900 to Rs 14,100 per sqft in Q4 2023, showcasing substantial year-on-year growth of 31.2%. The quarter-on-quarter growth for the same period was recorded at 24.5%. In Q4 2022, the average prices were in the range of Rs 10,150 to Rs 10,350 per sqft, while in Q3 2023, they were in the range of Rs 10,850 to Rs 11,050 per sqft.
Sector 104, Gurgaon: Positioned on Dwarka Expressway and offering a blend of ready-to-move and under-construction housing units, Sector 104 experienced an uptick in average property prices, ranging from Rs 10,100 to Rs 11,500 per sqft in Q4 2023, indicating a year-on-year growth of 19.7%. The quarter-on-quarter growth for the same period was 1.5%. In Q4 2022, the average prices ranged from Rs 8,100 to Rs 8,500 per sqft, while in Q3 2023, they were in the range of Rs 9,700 to Rs 9,900 per sqft.
Sector 108, Gurgaon: A mid-income sector in New Gurgaon, primarily offering residential apartments, Sector-108 saw an increase in average property prices in Q4 2023, ranging from Rs 12,800 to Rs 12,925 per sqft, indicating a year-on-year growth of 18%. The quarter-on-quarter growth for the same period was 7.2%. In Q4 2022, the average prices ranged from Rs 10,500 to Rs 11,075 per sqft, and in Q3 2023, they were in the range of Rs 11,900 to Rs 12,200 per sqft.
Sector 106, Gurgaon: Strategically located along Dwarka Expressway, Sector 106 showcased positive year-on-year growth of 12.5% in Q4 2023, despite a slight decrease in QoQ by 0.8%. The average property prices in this sector ranged from Rs 11,900 to Rs 12,575 per sqft, with Q4 2022 prices in the range of Rs 10,400 to Rs 11,000 per sqft and Q3 2023 prices in the range of Rs 12,000 to Rs 12,125 per sqft.
Sector 113, Gurgaon: A luxury locality in Gurgaon, Sector 113 demonstrated a year-on-year growth of 11% in Q4 2023, with average property prices ranging from Rs 12,900 to Rs 13,100 per sqft. The quarter-on-quarter growth for the same period was 5.5%. In Q4 2022, the average prices ranged from Rs 11,500 to Rs 11,750 per sqft, and in Q3 2023, they were in the range of Rs 12,200 to Rs 12,400 per sqft.
Sector 99A, Gurgaon: Offering residential apartments and plots in the mid-income budget segment, Sector 99A witnessed impressive performance in Q4 2023, with average property prices ranging from Rs 9,800 to Rs 10,000 per sqft, reflecting a year-on-year growth of 23%. The quarter-on-quarter growth for the same period was 7%. In Q4 2022, the average prices ranged from Rs 7,500 to Rs 7,700 per sqft, and in Q3 2023, they were in the range of Rs 9,100 to Rs 9,375 per sqft.
Sector 109, Gurgaon: One of the premium sectors on Dwarka Expressway, Sector-109 witnessed a remarkable year-on-year growth of 28.5% in Q4 2023, with average property prices ranging from Rs 12,200 to Rs 12,400 per sqft. The quarter-on-quarter growth for the same period was 39%. In Q4 2022, the average prices ranged from Rs 8,700 to Rs 8,900 per sqft, and in Q3 2023, they were in the range of Rs 8,200 to Rs 8,400 per sqft.
The data reveals a consistent and robust growth trajectory in property prices along Dwarka Expressway, establishing it as an attractive destination for potential buyers, investors, and developers.
Source : Construction Week Online