Say the phrase “Do you own a property on Dwarka Expressway” in Gurgaon and you will attract unwanted stares. An ambitious road project of 18 kilometer between Gurgaon in Haryana and Dwarka in Delhi was to be operational by 2010. Its 2016 and the road is probably an year from completion. Ancillary infrastructure work may still take a little more time than an year. However, we have been witnessing the developments here for last three years and looking at the work along Dwarka Expressway today one can feel that road might just get functional by end of the current year. Estimates are that nearly 60,000 flats or plots or villas are under construction along the Dwarka Expressway in Gurgaon which was supposed to be an alternate connectivity to Delhi. Currently one can reach Delhi by MG Road or National Highway 8. The third alternative in form of connectivity to Dwarka will ease traffic movement and create a large residential and office market along side it. When fully ready there will also be metro rail connectivity to NH8 along this stretch of road.
Projects at Dwarka Expressway
Firms such as Sobha, TATA Housing, Puri Constructions, Godrej, Raheja Developers, Bestech, Vatika are noteworthy names in the area. Adani Aangan and Suncity Avenue 102 are affordable homes launched under the HUDA’s new scheme in this region. Further there are offices, malls and service apartments under construction along this route. Satya Group is coming up with The Hive in mixed use format and Conscient is developing Conscient One which will have retail, offices and serviced apartments too. All in all it looks like while the road project is delayed which further led to slowdown in property markets in the Dwarka Expressway region, there might just be some silver lining to it in coming year.
Why we think this might be the case, here are 4 reasons or rather 4 key developments on Dwarka Expressway that will impact property in Gurgaon –
1.Railways Over Bridge at Sector 37D and 100 –
Construction of this over bridge of 1.2 kilometer is in full swing. By the looks of it as you can see in the images one can assess that majority of the work here is over and the site is well mobilised. For a long period of time connectivity across the railway line from Gurgaon to Rewari was held up which was the key bottleneck. People who know this area will understand that the road from Sector 84 to 37D is nearly seamless to drive on and it passes along projects such as – Ashiana Center Court, Godrej Oasis, Ramprastha Edge Towers and Vatika Express City. Further the road is again good to drive from Sector 100 to 109. When we say good to drive we do not mean that it is complete but desirable is a better word.
2. Haryana Government Resolving the land dispute – Much of the Dwarka Expressway construction was held up for the right of way issues. In 2015 the Punjab and Haryana High Court cleared cases of disputes on 3.5 kilometer of land where the owners weren’t agreeing to vacate the land. The Chief Minister of the state Mr. Khattar too has made several statements in the recent past showing his commitment to the infrastructure development in the millennium city which has witness widespread expansion.
3. Declaration as a National Highway – Minister for Road Transport and Highways of India Mr. Nitin Gadkari announced reclassification of Dwarka Expressway as a National Highway. This development is of high significance as all issues that have been delaying the road construction will now be resolved quickly and will receive support from Central Government. Moreover a road which is a National Highway receives significant funds on a regular basis for upkeep and maintenance. This announcement will propel the state government to fasten development of arterial roads which connect to several real estate projects.
4. Completion of Residential Projects – While many projects are running behind schedule projects such as Sobha International City, Raheja Atharva, Mahindra Aura, Vatika INXT City amongst others are nearing completion or have already been handed over. In the last two years the area also witnessed launch of affordable housing projects along Dwarka Expressway which otherwise is said to cater to luxury and premium housing (estimates say 35% of inventory in the area is of that kinds). With people gradually moving in the authorities will be under pressure to complete civil works to create habitable environment in this area otherwise they may face a severe backlash from residents and investors.
As is the case with many infrastructure projects across India, Dwarka Expressway witnessed similar delays. Though one can say this wasn’t a massive project it did lead to several thousands of crores being pumped into Gurgaon property along the stretch of road.