Dwarka Expressway to Spike Real Estate Prices in Gurgaon

The inauguration of the Dwarka Expressway by Prime Minister Narendra Modi is anticipated to catalyze real estate prices in the Gurgaon area, according to real estate experts.

Various developers, including Sobha, Raheja, Signature Global, M3M, Godrej, and Hero Realty, have ongoing projects along the corridor, with some planning to launch additional projects due to expected increased demand resulting from infrastructure development.

Anshuman Magazine, chairman of CBRE for India, South-East Asia, the Middle East & Africa, noted a promising reduction in unsold inventory levels in these sectors, from a notable 25-30% eight to 10 years ago to a mere 7-8% now, following the completion of the expressway.

CBRE anticipates property and land prices in the vicinity to appreciate in the coming years, offering attractive returns on investment for early investors. The real estate segment surrounding the expressway is predominantly residential, with some retail projects.

Pradeep Aggarwal, chairman of Signature Global (India) Ltd, highlighted that the expressway's phased development is significantly contributing to the advancement of city locations, attracting attention from both homebuyers and investors. The new expressway is expected to enhance connectivity for areas such as the Southern Peripheral Road (SPR), New Gurugram, and Sector 37D at Dwarka Expressway, consequently driving price appreciation and promising a bright future for the real estate market in the region.

The 29-km Dwarka Expressway, designed to provide an alternative link between Delhi and Gurgaon to alleviate traffic congestion, has attracted developers who have acquired large land parcels and subsequently launched numerous housing projects along the expressway. Santhosh Kumar, vice chairman of the Anarock group, highlighted that investors view it as one of the most promising and fruitful investments.