Dwarka Expressway to Re-imagine Realty Prospects in New Gurgaon

Dwarka Expressway to Re-imagine Realty Prospects in New Gurgaon

The connectivity is set to go several notches higher with the inauguration of the first urban expressway in 2022.

Bolstered by strategic connectivity and infrastructural developments, New Gurgaon has emerged as the realty hotspot over the past few years. The connectivity is set to go several notches higher with the inauguration of the first urban expressway- Dwarka Expressway in 2022. The 29-km expressway connects Dwarka, Delhi and Gurgaon. It is being built in four packages, out of which 18.9-kilometre is in Haryana, while the remaining 10.1-kilometre is in Delhi.

The 29km expressway will originate at Shiv-Murti on National Highway-8 and terminate near Kherki Daula Toll Plaza. The NH-8 currently ferries approximately three lakh passengers daily. The commissioning of this expressway will divert 60% of traffic from NH-8, thereby reducing congestion and minimizing air pollution. The project will also generate around 50,000 direct and induced employment opportunities.

Furthermore, with the inauguration of a cloverleaf interchange at the intersection of Central Peripheral Road (CPR) and Southern Peripheral Road (SPR), traffic will seamlessly move between the SPR and Dwarka Expressway, (also known as the Northern Peripheral Road (NPR), bypassing the Delhi-Gurugram Expressway (NH-48).

The project will also have a cascading effect on real estate in Delhi, Gurgaon and surrounding regions. Developers are optimistic that it will escalate property prices and accentuate realty prospects.

Krisumi Corporation, is first of its kind joint venture between Japanese firm Sumitomo and India’s Krishna Group and is currently developing a 30- acre project on the 65- acre land parcel in Gurgaon. The project called Krisumi Waterfall Residences is located in Sector 36A, Gurgaon and has direct connectivity with Dwarka Expressway.

“Real estate value has been directly impacted by the infrastructure development. When work on Dwarka Expressway took off, the real estate market of Gurgaon entered a new phase. Since then it has been one of the most preferred residential destinations of NCR and continues to attract interest from both investors and end-users alike. We expect that the recent visit of Hon’ble Minister Shri Nitin Gadkari, to overview the progress of the Dwarka Expressway will bring confidence for completion of the construction work,” Takahiro Yamazaki, co-CEO and director, Krisumi Corporation, India, said.

“Dwarka Expressway continues to be one of the major residential destinations in the Delhi-NCR. Located between the crossroads of Delhi and  Dwarka Expressway Gurgaon has emerged as the realty hotspot in Delhi-NCR. Its strategic location and excellent connectivity has made it a preferred destination for homebuyers. Due to its seamless connectivity from IGI, the location boasts of hassle free travel. Moreover, it is connected to Southern Peripheral Road, National Highway 8 and there onto areas of New Delhi. Several educational institutions, shopping complexes and hospitals are also located in the region boosting the social infrastructure. Hence the area is home to several world-class projects,” said Pankaj Bansal, director, M3M.

Dwarka Expressway will comprise the four levels- the longest (3.6 km) and most expansive (8 lanes) urban road tunnel/ underpass, at-grade road, elevated flyover and a flyover above flyover. The cost of the project is estimated at Rs 8,662 crores. It is being developed as part of the Bharatmala project.

Bharatmala is the new umbrella program for the construction of highways across India, focusing on optimizing freight and passenger movement efficiency across the country. A total of 24,800 km of highway construction will be considered in Phase I that will be implemented from 2017-18 to 2021-22.

Source : ConstructionWeekOnline

 

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