News: Dwarka Expressway Commands Attention-23.01.2017
Dwarka Expressway commands attention
Dwarka Expressway is gaining popularity owing to infrastructure developments and developing social and physical infrastructure. Many residential projects are coming up in this area because of rising demand from end-users. Apartments with 2 and 3BHK configurations are more popular among end-users here.
There are several new residential projects coming up by some top-notch developers such as Emaar MGF and projects like Imperial Gardens attract buyers searching for luxury properties. MGF is key players in retail real estate development in Northern India and has delivered approximately 2 million square feet of retail space. When it comes to amenities, you can expect a club house, tennis court, jogging track and multi-level parking in place. Most of the projects in this are ready to be delivered within 1-2 years period.
Strategically located in sector 102, next to the upcoming Dwarka Expressway, projects such as the Imperial Gardens is a modern gated development of nearly 12 acres with close to approximately 6 acres of landscaped greens. Buyers can consider the project owing to its location and amenities it offers. A 3BHK apartment (2000 sq ft) will cost you Rs 1.50 cr in this project.
The proximity to both Delhi and Gurgaon as well as the proposed metro station make it an ideal location to live in. The community offers 3 bedroom homes with family lounge and luxurious finishes, jogging tracks, club house with modern amenities, health club and tennis courts.
With the Union Cabinet recently approved the transfer of 34.87 HA land in Dwarka from the Delhi Development Authority (DDA) to LNDO (Land and Development Office) for creating a second Diplomatic Enclave in Delhi. Close on the heels of the Secretary, Economic Affairs, Shaktikanta Das, announcing the Rs 26,000 crore investment to create a massive 12 million sq ft convention centre on 89.7 HA of land adjoining this area, Dwarka’s fortunes are on the rise. In addition, work on the 2 Rail-Over-Bridges have started and is expected to be completed by the year-end.
Experts believed that Dwarka Expressway can get buyers as much as 60% returns in two years due to improved connectivity and rising opportunities.
Key commercial drivers
The fact that there is an Expressway connecting Delhi and Gurgaon with ample planned land for development is a huge driver. Its proximity to the established commercial hub of Udyog Vihar is a plus. The Metro is likely to connect the Dwarka Expressway development and the established Gurgaon city. On the other hand, prices are at least 10% cheaper than the established city. There is already a flyover on the Railway Track, reducing the wait time.
Current scenario
Over 7500 units have been delivered on the Dwarka Expressway and at least 45% of the delivered units are occupied. With capital values having fallen by 3% and rental values by 4%, it is unlikely that investors are actively seeking to buy in the area. However, for end users who are seeking to buy, this is a good time to start your search.
So should an end-user jump in and start buying? Interest rates are expected to come down a little more. Some minor notifications are expected to clarify the situation further. So go ahead and search. Find the property that you can move to. The Expressway, in some form is expected to get operational. The economic drivers in Dwarka are falling into place. So this should be a good time to buy on the Dwarka Expressway.
Magicbricks Bureau
