In the dynamic world of real estate, connectivity and accessibility have always played a pivotal role in determining the growth and demand of a particular region. In the heart of Delhi NCR, a game-changer is on the horizon—the opening of Dwarka Expressway. The Dwarka Expressway, also known as the Northern Peripheral Road (NPR), is a 29-km-long, eight-lane expressway that connects Dwarka in Delhi with NH-8 in Gurgaon. This much-awaited infrastructure project is set to revolutionize the real estate sector, particularly from a commercial perspective, by enhancing connectivity, sparking development, and impacting property prices and demand. The expressway is expected to improve accessibility in the region and significantly bolster the supply chain and logistics in and around Delhi NCR.
Dwarka Expressway will provide a Boost to Connectivity and Accessibility
The significance of connectivity in shaping the real estate landscape cannot be overstated. With the completion of the Dwarka Expressway, the region is poised to witness an unprecedented transformation. The expressway will act as a vital link between Dwarka and Gurgaon, easing the commute for thousands of individuals who traverse this route daily. It will not only reduce travel time but also alleviate congestion on existing roads, providing a smoother and more efficient transportation experience. Moreover, the expressway will seamlessly connect to the Indira Gandhi International Airport, further enhancing the region’s accessibility. This strategic advantage will undoubtedly attract businesses, multinational corporations, and investors looking for a well-connected location. The improved connectivity will enable professionals to conveniently access their workplaces, bolstering the growth of commercial hubs along the Dwarka Expressway.
Real Estate Development along the Dwarka Expressway
The opening of the Dwarka Expressway is set to unleash a wave of real estate development along its route. The enhanced connectivity will fuel the demand for commercial spaces, attracting developers and investors keen to capitalize on the opportunities presented by this burgeoning corridor. The presence of over 150 projects in and around Dwarka Expressway is a testimony to this fact. That developers are already recognizing the immense potential of this corridor and have begun planning ambitious projects to cater to the growing demand. Shopping complexes, office spaces, hotels, and other commercial ventures are springing up along the expressway, transforming the landscape into a vibrant economic hub. As development progresses, the area is poised to witness a surge in commercial real estate offerings, catering to diverse business needs.
Impact of the Dwarka Expressway on Property Prices and Demand
The commencement of the Dwarka Expressway is poised to exert a profound influence on property prices and demand, both in the short and long term. When examining the price trend of multistory apartments along the Dwarka Expressway, it becomes evident that over a six-year period from March 2017 to March 2023, there has been a substantial appreciation in prices, soaring from Rs 4753 per sq ft to Rs 8680 per sq ft.
In the long run, the continuous growth and development along the Dwarka Expressway will contribute further to the augmentation of property values in the region. As commercial activities thrive, the demand for real estate will persistently escalate, resulting in a consistent rise in property prices. Furthermore, the enhanced infrastructure and connectivity will establish the region as an appealing choice for both businesses and individuals, thereby reinforcing the enduring demand for real estate. The opening of the Dwarka Expressway is poised to be a game-changer for Delhi NCR’s real estate sector, particularly in the commercial domain. The improved connectivity and accessibility offered by this infrastructure marvel will pave the way for unprecedented business growth and economic development along its route, while also providing an impetus to the commercial real estate sector in and around Delhi NCR.
