If location is the prime barometer of pricing and appreciation of property values, then owning a home next to an upcoming national highway may just be a no brainer, especially when many investors are staying away due to a soft market. It has been proven time and again that most prudent investments are made when everybody else isn’t in favour of owning that particular asset, be it – gold, stocks, bonds or real estate. Dwarka Expressway, a 27 km upcoming road project between Dwarka at New Delhi and National Highway 8 at Gurgaon was envisaged several years back as an alternate route to the National Capital. Gurgaon over the years has seen dense development. Which made the travel on National Highway 8 between the city and Delhi cumbersome. Thereby Dwarka Expressway, a proposed 150m wide road, will come as a respite to frequent commuters as they would have avoided the busy stretches near the already established business districts of Gurgaon. Sobha Ltd. recognised the potential of this region and has launched its first apartment project, Sobha City in Sector-108, on the Upper Dwarka Expressway.
Severe delays marred the road construction, resulting in investors including real estate developers losing not only their investment capital but even hopes in the property market of this region. That said, if one were to investigate the Dwarka Expressway real estate market closely today, he would find ample signs that are indicative of better prospects from here on-
- Declaration Of National Highway
Honorable Minister of Road Transport & Highways (India), Mr. Nitin Gadkari, recognising Dwarka Expressway as an important infrastructure development in the NCR region, declared it a National Highway in 2016, thus paving the way for speedy development and better upkeep of the road. One of the major issues plaguing this road project was of land acquisition in certain pockets. The status of a national highway allows the government to take necessary steps and get more cooperation from various bodies. The big beneficiary of these better sentiments will be the region of Upper Dwarka Expressway, (areas closer to New Delhi) where Sobha City is located. Sobha City at Sector-108, Gurgaon, will be at a comfortable distance (~2 minutes) from the upcoming National Highway.
- Major Progress Towards Gurgaon Leg
One can see that the Gurgaon leg of the Dwarka Expressway (nearly 70% of the road) is more or less connected today. The road that exists is good to drive on and several arterial roads connecting the Expressway have already come up, adding to improved connectivity for the region. Ancillary infrastructure activities, such as water pipelines, power sub stations, and sewage facilities, are all under progress. A major leap in this direction has been the settlement of the claims of oustees, which until now had been a major hold up. The 16 km stretch of the Gurgaon section, from Kherki Dhaula to New Palam Vihar, has already been made operational. Also, the completion of Railway Over Bridge at Sector-99, Gurgaon, on the Dwarka Expressway is seen as a significant development for this stretch.
- Major Progress Towards Delhi Leg
With Delhi Development Authority (DDA) handing over the Delhi Link to National Highways Authority of India (NHAI) and the land acquisition by Urban Development Authority of India (UDAI) of the contentious 22 hectares required to complete the expressway, the Dwarka Expressway seems to be racing towards completion with the required push from the Government authorities. Another troublesome patch of 900 mtr. on the Delhi side has been successfully acquired. With regular positive announcements regarding progress of this ambitious project and additional upcoming public infrastructure, the Dwarka Expressway has emerged as one of the most sought after residential destinations of Delhi NCR.
- Residential Project Deliveries And Increasing Habitation
While close to 50,000 homes are under construction in this region, a few, such as the International City (Phase I) in Sector-109, by Sobha Ltd., have already been delivered within the stipulated timelines and are getting inhabited now. With people moving into their homes, there is also a demand for renting out properties all along the Dwarka Expressway. The residential complexes at Dwarka Expressway were planned as an alternate to the busy areas of South Delhi and Gurgaon. Thereby, many complexes are coming up with low density construction and ample amenities. Hence, projects such as International City, boasting of a clubhouse spread over 2 acres, low density development, and proximity to the Delhi Airport (20 minutes) will attract residents from both the cities. Sobha City, will comprise of a whopping 8.5 acre of greens, two club houses, spread over 40,000 sq. ft. and a 90 m diameter cricket ground. Such facilities can’t be found in housing complexes of Delhi. Therefore, habitation of Upper Dwarka Expressway, which includes Sector 108 & 109, is just a matter of time.
- Upcoming Development Of Social Infrastructure
Sobha Ltd., with the delivery of a splendid Phase of International City at Sector-109, has made its mark in the NCR market. One needs to visit International City and spend time there to understand the superior workmanship that has gone into the project. Both Sobha City and International City are located on existing, operational sector roads, unlike many projects which are waiting for the last mile connectivity.
Source : SobhaCity