Prashant Thakur, Head – Research, ANAROCK Property Consultants
Conceptualized under the Gurugram Master Plan 2021, Dwarka Expressway or the Northern Peripheral Road (NPR) was initially planned to connect Dwarka in Delhi to Palam Vihar in Gurugram. However, it was further extended to Kherki Dhaula toll plaza intercepting NH 48 as per the Master Plan 2025.
Stretching along 18 km, this 8-lane and 150-meter-wide expressway aims to provide seamless connectivity between Delhi, Gurugram and Manesar. The expressway passes through sectors 109, 113, 37D, 88B, 105, 99 and many other sectors which saw an upsurge in residential real estate activity since its announcement.
With land acquisition issues over the years, the residential real estate market along the region suffered a major setback. However, the recent clearance of all major hurdles here has given a new ray of hope to prospective buyers and investors focused on Dwarka Expressway’s many transit-oriented benefits.
The major attraction of Dwarka Expressway is its seamless connectivity between Gurugram and Delhi.
Despite all odds over the last few years, prices have improved in the region. Dwarka Expressway saw a steady rise in capital values at a CAGR of ~4% for the period from Q1 2015 to Q1 2018, which shows that the area has immense future potential. Once fully operational, Dwarka Expressway will be a harbinger of change for NCR’s real estate market. The recent clearance of all land acquisition hurdles has rekindled hopes for the realty market here.
With the office space market in most areas in Gurugram saturated, Dwarka Expressway will emerge as one of the prominent destinations for IT-ITeS companies, as it will enjoy seamless connectivity with the international airport and other key office destinations in Gurugram. On the residential front too, there will be increased activity in the coming year as a significant number of units are slated to complete.
Moreover, with builders now concentrating heavily on project completion, buyers will have ample options across segments along Dwarka Expressway. Increased commercial and residential activity will eventually attract various social infrastructure facilities including hospitals, malls and entertainment centres.
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