The Dwarka Expressway or the National Peripheral Road (NH 248-BB) is an ongoing project set to change the on-road connectivity from Dwarka to Gurugram. It is an 8-lane highway linking Dwarka in Delhi to Gurugram in Haryana. With a total length of 27.6 km, it originates from Kherki Dhaula, bypasses New Gurgaon, and connects with Delhi.
Over the last few years, the project saw many ups and downs but today, it is emerging to be one of the most promising projects in Delhi-NCR. With a number of renowned builders and businesses investing along the stretch, the upcoming infrastructure is ready to change the face of the location and make it prominent in the years to follow.
The Journey of the Project
The excellent location caught the eyes of renowned builders since the plan for the expressway was proposed in 2006. The plan was expected to complete by 2012-2013, a considerably short amount of time and so, heavy investment from industry leaders followed.
A few years into construction and problems related to land acquisition, road, and sewage development began. Lack of government initiative delayed the project further and the demand for properties along the region dropped. However, after some years, these major issues were resolved and by 2018, prices for properties around the expressway started going up again.
Other parts of Gurugram such as the Hero Honda Chowk were also developed into important public areas, and so, connectivity to the expressway improved and made it more accessible to the public.
The Dwarka Expressway Gurgaon project overcame a lot of hurdles and saw a downfall in investment for a few years. Nevertheless, in time, it was able to reopen a promising opportunity for builders and investors again. The project now stands under construction and is one of the most sought-after sites in the Delhi-NCR for making real estate investments.
Changes that the New Infrastructure is Likely to Bring on the Dwarka Expressway
The establishment of a brand new grand infrastructure along the expressway is attracting a lot of cross-industry investments. According to real estate researchers, investing in properties along the highway is a trend that has increased over the years and if we study the pattern, such investments bring valuable results in a short span of time. In fact, within the last few years, the pace of development of the New Gurugram area has increased exponentially because of the Dwarka Expressway.
This is because the white-collar workforce in Gurugram is rapidly increasing and so, the demand for workspaces, entertainment spaces has seen a multifold increase too. A number of residential areas are springing up in the suburbs near the Dwarka Expressway and the housing solutions for a growing population are actively being planned too.
With some major infrastructural establishments, the overall development of the area is soon to follow. Some premium amenities will be added to the location to improve the localities outside the established residential societies by big real estate groups.
Here are some more changes that are sure to follow:
1. Connectivity
The strategic location of the expressway places it within close proximity to prime locations such as the IGI airport, railways, cities in Delhi, and NCR. The multi-utility corridor, also known as the Dwarka Link Road connects many Sectors of Gurugram to IT parks in Manesar.
With the proposed extension of the Gurugram metro line, the connectivity will only improve to become even more convenient for the public. This has been possible through the mutual efforts of private builders and the Haryana government, who have worked on the construction of roads outside the periphery of the Expressway.
2. Commercialization
With infrastructural investment leads from various established businesses, the area around the Expressway is set to commercialize entirely.
The area already has some completed projects from industry leaders like TATA Housings, Godrej Properties, Sobha Group, Mahindra Lifespaces, M3M India, Paras Builtech, ATS Infrastructures, Hero Group, and more and is on its way to becoming a real estate hub.
According to the Gurugram-Manesar Master Plan 2021, a special economic zone (SEZ) will be established through a joint initiative between the Haryana government and Reliance. This will adjoin the springing townships along the expressway. Some of these townships that will lie within close proximity to the SEZs will have a high demand in the coming years.
3. Development of High-Class Residential and Commercial Areas
The location offers a promising venture for residential and commercial investments. The stakes become high for commercial real estate and businesses, housing groups, and builders with the completion of the Dwarka Expressway.
Some premium housing projects are already successfully established around the location. In addition to residential areas and marketplaces, many schools and hospital chains are also purchasing the site here because it offers a promising prospect.
When we talk about commercial investments, projects like Neo Square are already making headlines for providing a successful entertainment zone, offices, restaurant places, all in one building on the Expressway.
4. Full-Scale Urbanization
Once the above-mentioned changes occur, full-scale urbanization is set to follow. The premium amenities that the commercial and residential investments will introduce in the region will also help with urbanization.
A major segment of the population in Delhi-NCR might shift here for job opportunities and reasonable housing options. With population relocation, the demand for property and business will gradually increase to change the face of the Expressway entirely.
5. Price Appreciation
Top real estate analysts predict that with such structural and environmental advancements, Dwarka Expressway properties will see a significant price appreciation. Local developments in addition to professional business investments in the real estate sector will lead to price appreciation in properties within the location. Post initial investment, in the coming years, the development of the area will speed up.
Conclusion
The Dwarka Expressway will turn the dream connection between Delhi and Gurugram into reality. The project will benefit the businesses as well as the public and will establish unmatched amenities in place. The full-scale commercialization with the establishment of SEZs will attract a new population into place.
All in all, the infrastructure initiative on the Expressway brings new growth prospects for businessmen, builders, investors, and the public in the Delhi-NCR region.