Gurugram Realty To Get New Momentum With The Commencement Of Dwarka Expressway Stretch?

Gurugram Realty To Get New Momentum With The Commencement Of Dwarka Expressway Stretch

The Gurugram stretch of Dwarka Expressway will be completely operational in January, with certain sections already available for public usage.

The long-delayed 19-kilometer Gurugram stretch of the 29-kilometer Dwarka Expressway from Mahipalpur in New Delhi to Kherki Dhaula in Gurugram is expected to open shortly.

According to NHAI officials, the highway will be opened in phases. The Gurugram stretch will be completely operational in January, with certain sections already available for public usage. Only the final 10 kilometers in Delhi will be completed, presumably in June of 2023.

The Northern Peripheral Road, often known as the Dwarka Highway, runs from Shiv-Murti on the NH-8 (Delhi-Gurugram motorway) to Kherki Daula Toll Plaza, passing through Dwarka Sector 21, Gurugram border, and Basai. It is expected to reduce almost 50%–60% of traffic congestion on the Delhi-Gurgaon Expressway and other major thoroughfares.’

The development of this renowned project is crucial to reduce congestion in Delhi.

Commenting on the development, Pradeep Aggarwal, Founder & Chairman, Signature Global, said, “There is a very positive sentiment in the real estate market with the opening of the Dwarka Expressway, NCR’s next prime real estate hub. The real estate projects in this coveted locality have recently witnessed a surge because of its strategic location, matchless connectivity, and state-of-the-art infrastructure. Thus, Dwarka Expressway has become a magnet for people looking for a modern luxurious integrated lifestyle.”

He added, “Dwarka Expressway homes are selling faster and at higher prices than before the pandemic. With several thousand families looking to move to the Dwarka Expressway, it is becoming a hub for millennial homebuyers looking for a good lifestyle. Given this ever-growing demand, land prices have seen double-digit appreciation in value in the last year alone. We are confident that the Dwarka Expressway real estate market will remain an investor’s favorite for the perceivable future”.

Vivek Singhal, CEO, Smartworld Developers Pvt Ltd, said, “The Gurugram real estate market is abuzz about the Dwarka Expressway opening. The Government’s focus on the infrastructure development and the seamless connectivity it provides to the Delhi, Gurgaon and Manesar region have made this area one of the most sought-after micro market of Delhi NCR, attracting both investors and end users alike. The Expressway will also provide an alternative route to IGI Airport through a 8-lane shallow tunnel. A more positive response to construction projects in the area is expected following the expressway’s opening. This will contribute to the growth of the real estate industry as a whole.”

He added, “Dwarka Expressway is poised to be one of the finest infrastructure stories that Delhi-NCR has ever witnessed. The government is developing a state-of-the-art business, transport and recreational hub near Sector 113 and Sector 111, Gurgaon. These developments will enhance accessibility to world-class facilities and amenities for the micro-markets of West Delhi and Dwarka. Further, looking at the growth potential in the next few years, this will be the most lucrative micro-market, both from investment and end-use perspectives.”

The new stretch of Dwarka Expressway will provide smooth connectivity with Delhi as well as NH8. “We hope that the new development will enhance Dwarka Expressway as an ideal site to live seamlessly in NCR. With the upcoming DMIC, Metro connectivity and RRTS corridor, this area will attract more residents as well as real estate developers. The developments around the region are a mix of residential and commercial set-ups which will see a high rate of appreciation and eventually boost the realty sector. The response to the projects has been phenomenal as buyers have started to realize the potential this area holds,” said Santosh Agarwal, CFO and Executive Director, Alpha Corp.

The project, which is being built as part of the Union government’s ambitious Bharatmala Project, is anticipated to cost around Rs 9000 crore. This route features the longest and largest urban road tunnel in India and is the nation’s first elevated urban motorway. A minimum 3-lane service road is provided on both sides of the 16-lane access-controlled expressway.

Source : FE

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