he Global City Gurugram is also poised to be a key development for the Delhi-Mumbai Industrial Corridor with an investment potential of close to $15 billion.
Slated to be completed by October 2026, the Haryana Government’s ambitious mixed-land-use project — Global City Gurugram — comprising residential and commercial complexes, high-street retail spaces, Special Economic Zones (SEZs), high-tech industrial spaces, plotted developments, and self-sufficient and inclusive social infrastructure is expected to ramp up investments in Dwarka Expressway. It is being built as an integrated township across 1080 acres in Sectors 36B, 37A, and 37B along the suburbs of Dwarka Expressway.
The project will be endowed with futuristic and smart city features such as a jogging park, gymnasium, multi-purpose lawn, lush green spaces, exquisite water bodies, and spacious roads. The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), a state-owned body that has the onus to develop the multi-crore central business district, has ensued the first phase of its construction after allocating a Rs 940-crore tender for building roads and other infrastructural facilities like electricity and water supply. The Global City Gurugram is also poised to be a key development for the Delhi-Mumbai Industrial Corridor (DMIC) with an investment potential of close to $15 billion.
Dwarka Expressway, which is still in the final stages of construction, has become a hot real estate property hub with many well-known developers starting to invest and develop projects in the region. The Global City Gurugram, billed as India’s biggest township, is one-of-a-kind state-driven investment that is likely to bring favorable returns for any investor having the desire to buy a property in Dwarka Expressway due to several factors such as multi-nodal connectivity, job opportunities, and investment bulk-ups that the region will host in the next few years. Infrastructural connectivity will see a tremendous upshift with the advent of interstate and intercity bus terminals and an integrated multi-modal transit hub which are being built close to Global City, according to industry sources.
Luxury real estate is at the peak of its development in Gurugram. With Dwarka Expressway seeing an investment bloom, real estate developers are of the view that the state-led Global City Gurugram will only add up to the investment galore in the sub-city. Buying a property in Dwarka Expressway not only boasts of strong intra-city connectivity but is also strategically connected to adjoining regions like Delhi and national highways like NH-48 and Central Peripheral Road.
Talking about the same, Vikas Garg, Joint Managing Director, Ganga Realty, said, “Dwarka Expressway has become a colossal luxury real estate investment corridor. Sector 84 near Dwarka Expressway has become a high-end residential property hub. People are aspiring to live a life of comfort and luxury investing their money in quality residences with sundry recreational habitats and high-tech security features. The well-earning sections harbor their set of homebuying ambitions which allude to the luxury and uber-luxury homes. Therefore, luxury real estate has undergone a stupendous rise in the past few years, especially after the pandemic. Uber-luxury residences, bigger homes like 3 and 4BHKs, and penthouses are the top demands of home buyers with the end-user demand outstripping supply. Moreover, the Global City project will help in amplifying and increasing investments in the region.”
Not only Dwarka Expressway, but other nearby residential zones are also going to prosper because of Global City. Strategically connected to Dwarka Expressway, NH-8, Gurgaon-Faridabad Road, and the upcoming DMIC, Golf Course Extension Road underpins vibrant residential and commercial developments with luxury independent floors emerging as the favorite investment category of homebuyers.
Saransh Trehan, Managing Director, Trehan Group, said, “Independent floors of late have become the most developed housing category in Gurugram with new corridors like Golf Course Extension witnessing intensive development. Much of this can be attributed to the overflowing demand with home buyers swayed away by the several long-term upper-hand advantages associated with it such as higher resale capacity, lower maintenance value, high property price appreciation, and eco-friendly merits like lower pollution due to low-density occupation. Golf Course Extension Road hosts some of the best independent floor property options. Roomy apartments, increased privacy and security, and a heightened sense for the incorporation of green spaces are a few alluring characteristics that are attracting homebuyers to invest in this category. Due to its strategic location, strong infrastructural connectivity, and a plethora of ready-to-move-in properties, Golf Course Extension Road has reinvigorated the real estate markets of Gurugram.”
Source : FE