The opening of Dwarka Expressway in Gurgaon is expected to increase the prices of real estate in the region by 30-40%, according to developers and brokerage firm.
The growing interest in the area has prompted many developers to launch projects along the expressway, driving up property prices.
“The completion of Dwarka Expressway is expected to significantly impact the real estate market in Gurgaon in terms of both demand and price escalation. The expressway’s inauguration will provide seamless interstate connectivity between Delhi, Gurgaon, and Manesar regions, triggering a positive response to construction projects in the area,” said Vivek Singhal, CEO, Smartworld Developers.
The price of properties in the area is anticipated to appreciate significantly, to the tune of 20-40% from the current levels.
Smartworld Developers has recently launched its new project, Smartworld One DXP, at sector 113.
“The Expressway will bring a significant transformation to the residential and commercial real estate markets in the region, with an expected 30–40% rise in property prices. The improved infrastructure will drive economic growth, resulting in a significant boost for the real estate sector. This upcoming event is a lucrative opportunity for property investors looking to maximize their returns, as the expressway’s opening is expected to unlock the potential of the swiftly growing locale,” said Kunal Rishi, COO, Paras Buildtech.
The completion of the Dwarka Expressway is also expected to have a positive impact on the overall real estate market in the region.
“Dwarka Expressway is one of the promising realty corridors in Gurugram. Besides enhancing the connectivity quotient of the city, the opening of the expressway will bring a significant impact on the realty market of Gurugram,” said Aman Trehan, Executive Director, Trehan Iris.
The housing market of Gurugram has witnessed a significant price appreciation of approximately 13 percent in the last year. Besides, commercial leasing across the office and retail space are also picking up with healthy demand with great return on investments and higher rental yields.
The Expressway is not just expected to benefit the real estate sector in the area, but also the overall economy of the region. The improved connectivity is likely to attract more businesses to the area, leading to job creation and an overall boost to the economy.
“The consequent improvement in connectivity between Gurgaon and Delhi is forecasted to generate a surge in demand for properties in the area. The development of the expressway is also anticipated to entice new investors and homebuyers, making Gurgaon an even more desirable location for professionals,” said Pradeep Aggarwal, Founder & Chairman, Signature Global.
Source : ET