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Monday, July 22, 2024

Dwarka Expressway Inauguration by PM Modi Sparks Optimism for Property Boom in Gurugram

With Prime Minister Narendra Modi inaugurating the Gurugram section of the Dwarka Expressway, which connects New Delhi and Gurugram, on March 11, the stage is set for a boom in property prices along the corridor.

What do industry experts feel?

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd. said, “The unveiling of the Gurgaon segment of the Dwarka Expressway marks a significant milestone for the real estate sector and the Millennium City, radiating optimism and growth. This state-of-art project includes a modern eight-lane expressway, which strategically connects key locations of Delhi and Gurugram and reshaping the landscape of Gurgaon’s property market. The project stands as a testament to the government’s dedication to fostering a dynamic urban centre. As the expressway undergoes phased development, it is contributing significantly in the progress of across the city locations, drawing attention from both homebuyers and investors alike. This new expressway would not only provide a better connectivity for the close vicinity and locations of SPR, New Gurugram & Sector 37D at Dwarka Expressway, it would be a catalyst for price appreciation and promises a bright future for the real estate market in the region.”

S K Narvar, Group Chairman, Trident Realty says “Dwarka expressway is one of the significant infrastructure developments which not only enhances connectivity between Delhi and Gurugram but also opens up new opportunities for real estate development. The economy in the region is expected to receive a significant boost due to the infrastructure development brought by the expressway. Developments along the route are positioned for significant growth and value appreciation, due to improved accessibility and connectivity. The enhanced infrastructure and connectivity are attracting investors and potential homeowners, driving demand for both residential and commercial properties. This surge in demand is not only reshaping the real estate landscape but also fostering economic development in the region, creating a vibrant environment for both growth and investment.”

Mr. Pankaj Pal, Managing Director, Whiteland Corporation said, “The inauguration of the Gurgaon segment of the Dwarka Expressway by our Prime Minister Narendra Modi heralds a new era for the real estate market in the region. The completion of this groundbreaking infrastructure project not only signifies enhanced connectivity but also serves as a catalyst for the exponential growth of the realty sector in Gurgaon. The Dwarka Expressway, with its strategic linkage from Shiv Murti near IGI Airport to Kherki Daula toll, is set to redefine the accessibility and convenience of residents, making Gurgaon a prime destination for property investment. This elevated eight-lane expressway, a marvel of modern engineering, not only offers a seamless commute to New Delhi but also acts as a key driver for property price appreciation in Gurgaon. The commitment of Rs 9,000 crore towards this infrastructure project underscores the government’s dedication to fostering economic development and creating a conducive environment for real estate growth.”

He further added, “As the Prime Minister conducts a road show along the Dwarka Expressway, showcasing its efficiency and connectivity, prospective homebuyers and investors can expect a surge in demand for properties in the vicinity. The completion of this expressway is not just about reducing travel time; it’s a strategic investment that amplifies the desirability of Gurgaon as a residential and commercial hub. The realty market in Gurgaon is poised for a significant upswing, and property prices are likely to witness a steady appreciation, making this an opportune moment for those looking to invest in the future of urban living in Gurgaon.”

Vipin Sharma, Founder & Chairman, Aarize Group said, “We envision the transformative power of projects like the Dwarka Expressway, which symbolize a paradigm shift in connectivity and infrastructure. With an investment of Rs 9,000 crore, this development not only links Gurugram and Delhi seamlessly but also catalyzes growth in the real estate sector. Past hurdles in urban mobility are being overcome, present opportunities are being seized, and the future holds promise for exponential growth.

Enhanced connectivity not only attracts investors but also fosters sustainable urban development, creating vibrant communities and unlocking immense economic potential. As real estate developer, we embrace such initiatives as they not only benefit the real estate growth, but also contribute to the overall prosperity and livability of the region.”

Ashish Sharma – AVP Operations, Brahma Group said, “The inauguration of the 19-km stretch of Dwarka Expressway by our esteemed Prime Minister Narendra Modi marks a milestone in the region’s development journey. It will significantly reduce travel time between different corners of the two cities, enhancing the commute for the travellers. Besides, this much-awaited infrastructural development will be a catalyst for the rapid economic growth of the region. With the emergence of dynamic commercial hubs, premium complexes, and integrated recreational facilities, the region has experienced a profound revival.  This has also led to a surge in demand for property along its route reflected through the new launches and the healthy price appreciation. Developers recognize the immense potential of this corridor as it holds a new era of prosperity, attracting both domestic and international investor’s interest and further promising robust economic growth. This key development is likely to open up new avenues of business and commercial activity in and around the region which will certainly bring a positive impact on the real estate market.”

Mr. Mohit Jain, Managing Director, Krisumi Corporation

Major infrastructure projects act as a catalyst for the economy. This is the reason the government prioritizes such developments. Real estate as a sector immensely benefits on improved connectivity.

The Gurugram stretch of the Dwarka Expressway is expected to generate a similar positive impact. We anticipate continued robust demand for various types of properties in Gurugram, particularly near the expressway, for the next few years. This growth will likely encompass both residential and commercial sectors. The luxury housing market is also expected to perform well.

With a significant decline in unsold inventory Gurugram’s real estate market has displayed strong demand in recent years, with. A report by a leading consultant shows a remarkable 27% decrease in unsold housing units in Gurugram during 2023 alone. Looking ahead, the anticipated high demand fueled by the Dwarka Expressway opening is likely to lead to a further reduction in unsold properties. We can expect a surge in new launches, including both residential and commercial projects. In fact, we see a huge possibility of Dwarka Expressway emerging as a major hub for both residential and commercial development not just in Gurugram, but in the entire NCR region.

Mr. Aman Sarin, Director & Chief Executive Officer, Anant Raj Limited

The Delhi-Gurugram has seen tremendous growth after completion of Jaipur Expressway and became a major hub of economic and infrastructure activities. Similarly, completion of Dwarka Expressway is poised to be a transformative event, particularly in the National Capital Region (NCR), with Gurugram set to experience significant benefits. This new expressway promises to alleviate congestion on the Delhi-Gurugram stretch, offering another corridor of growth to Delhi and Gurugram.

From a real estate perspective, the completion of the Dwarka Expressway will benefit the numerous homebuyers who have invested in properties in this region. Additionally, this milestone will unlock numerous land parcels for development, presenting fresh opportunities for both Residential and Commercial Projects. Given the already robust demand for properties in Gurugram, the expressway’s completion is expected to further stimulate the market, driving up demand and potentially boosting demand of Commercial Real Estate.

The overall impact is anticipated to be highly positive, not only for the real estate sector but also for the broader urbanization efforts in Delhi & Gurugram. With improved connectivity and accessibility, the expressway is likely to catalyze further growth and development, setting the stage for a more vibrant and dynamic urban landscape in the region.

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