Prime Minister Narendra Modi inaugurated the Haryana section of the Dwarka Expressway today, heralding a new era for the real estate market in the region. With this, the Dwarka Expressway-New Gurgaon cluster is expected to see more holistic development of real estate on the back of operational expressway.
“The inauguration of the much-awaited Dwarka Expressway by PM Modi will act as a harbinger of real estate development and economic growth in the region. Besides enhancing the connectivity quotient of adjoining areas, including Gurugram, Sohna, Faridabad, and New Delhi, the expressway will stimulate investment opportunities in nearby business parks, logistics hubs, new townships, creating a dynamic ecosystem for businesses, residents and investors alike,” said Rajat Likhyani, Associate Principal Partner, Square Yards.
Various sectors across the expressway have already emerged as prime hotspots for real estate, commanding prices ranging Rs 12000-15000 per sq ft. With the expressway now operational, prices are anticipated to zoom up by 10-15% in the coming months.
“Gurugram and Sohna will have a ripple effect of this development, fueling a transformative shift in business and real estate activities. We may witness realtors announcing a slew of uber-luxury projects in the near future, catering to the surge in demand from premium investors and homebuyers,” added Likhyani.
G Hari Babu, National President of NAREDCO — welcoming the inauguration of the Dwarka Expressway’s Haryana section by Prime Minister Narendra Modi — said, “This landmark infrastructure project, with its unique features such as the country’s first elevated urban expressway and the innovative single-pillar flyover will undoubtedly boost connectivity and enhance the real estate landscape in the region. The improved accessibility to key sectors and the connectivity to the upcoming India International Convention Centre in Dwarka Sector 25 will likely drive significant development and investment opportunities. We look forward to witnessing the positive impact of this expressway on the real estate market and its contribution to the overall growth of the Delhi-Gurugram corridor.”
The Dwarka Expressway-New Gurgaon residential cluster is experiencing great buyer traction as a result of infrastructure enhancement and quality supply. Since reputed developers have launched residential projects, it has emerged as the hub of Gurugram’s residential growth. The Government’s construction of the Dwarka Expressway is evidence of the region’s potential for expansion. It has facilitated the development of residential clusters along the Expressway and enabled smooth communication between Delhi and Gurugram.
“The Dwarka Expressway-New Gurgaon cluster has become the new hotspot for premium launches in Delhi NCR. In 2023, a total of 11,270 housing units were launched in this submarket, which was 69% of the overall launches in Gurugram. Launches were up by 166% as compared to the previous year as 4,231 units were launched in 2022. Notably, high-end projects are also getting launched in this submarket. 38% of the new launches in this cluster were priced at Rs 2.5 crore or above. The project launches garnered good traction in terms of demand and a few of them were fully sold in a few days of the launch,” said Dr Samantak Das, Chief Economist and Head Research & REIS, India, JLL.
Pankaj Pal, Managing Director, Whiteland Corporation, said, “The inauguration of the Gurgaon segment of the Dwarka Expressway by our PM 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.”
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,” said S K Narvar, Group Chairman, Trident Realty.
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.”
Nayan Raheja of Raheja Developers said, “The inauguration of NCR’s most-awaited connectivity development, Dwarka Expressway, has been a prominent move for us as it has elevated the real estate market of the sectors along the stretch. The development has not only eased commute with the national capital but has also increased investment across projects from both residential and commercial segments. With tremendous price appreciation of properties ever since the construction of the stretch began, the Expressway has brought a boost to the region’s economy as well as its allure, with numerous amenities being developed along the route.”
Mohit Goel, MD, Omaxe Group, said, “The opening of the Dwarka Expressway has marked a significant turning point in the real estate development and future possibilities of the region. The Expressway, beginning from Dwarka, Delhi, has not only elevated the scope of commercial real estate development in the city but has also eased its access from Gurugram and other adjoining areas. This has also enhanced access to Yashobhoomi, Asia’a biggest convention centre, elevating the region’s economy. The stretch has become a prominent choice for those looking to invest in both commercial or residential real estate in NCR and has been promising remarkable returns on investment. It has also eased the commute to the Indira Gandhi International Airport and various other significant spots and hubs along the development.”
The inauguration of the 19-km stretch of Dwarka Expressway 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,” said Ashish Sharma, AVP Operations, Brahma Group.
Abhishek Trehan, Executive Director, Trehan Iris, said, “The key infrastructural development in the Gurugram region is likely to unlock new business and commercial opportunities in the surrounding areas. Moreover, investors and developers recognize the immense potential offered by this corridor, which is likely to be a gateway to a new era of economic growth and prosperity. Such enhancement has further made the region a magnet for those seeking a modern, luxurious, integrated lifestyle. Besides, the opening of the expressway has not only improved the connectivity of the city but has had a significant impact on the real estate market of Gurugram. This development has triggered a surge in healthy demand for properties leading to a surge in leasing across office and retail spaces situated along the expressway, resulting in a healthy price appreciation and a great return on investments.”
The Delhi-Gurugram has seen tremendous growth after completion of Jaipur Expressway and became 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,” said Aman Sarin, Director & Chief Executive Officer, Anant Raj Limited.
Sachin Gawri, Founder and CEO, RISE Infraventures, said, “The opening of the Dwarka Expressway by our Prime Minister is one of the most-awaited developments for Gurugram’s real estate, as the expansion has significantly boosted the area’s appeal among investors. Gurugram has witnessed a surge in the number of developers and investors due to the easy access it has provided to potential buyers in the area, inviting investors to different sectors of Gurugram along the way. The section is worth investing in since it offers improved access to significant locations, including IGI Airport while promising a remarkable return on investment.”
Rajjath Goel, Managing Director, MRG Group, said, “The Dwarka Expressway has the potential to drastically transform the real estate sector by reducing the travel time between Delhi and Gurugram. Consequently, with rising demand for both residential and commercial buildings, the development is leading to an increase in property prices at a faster pace. The Dwarka Expressway hosts all the factors of being one of the most active real estate centres in the National Capital Region (NCR), especially in light of the Haryana government’s grand intentions to stimulate residential and commercial real estate development along this route.”
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. 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,” said Mohit Jain, Managing Director, Krisumi Corporation.
The inauguration symbolizes a commitment to modernization, positioning India as a nation with a vision for sustainable growth. “As citizens experience reduced commute times and improved connectivity, the Dwarka Expressway becomes a symbol of empowerment, enhancing the quality of life for millions. Economically, the expressway catalyses job creation and business expansion, stimulating local economies. The real estate sector witnesses a boom as the corridor unlocks new opportunities for residential development as demand grows in sectors like 37C. The expressway doesn’t just connect two points; it knits together aspirations, creating a tapestry of progress that extends beyond geographical boundaries,” said Ravi Saund, Founding Director, Emperium Pvt Ltd.
“The inauguration of Dwarka Expressway by PM Modi marks a significant milestone in regional infrastructure development, demonstrating the government’s unwavering commitment to improving infrastructure and fostering economic prosperity in India. The seamless connectivity offered by the expressway acts as a catalyst for urban development, paving the way for the emergence of new residential, commercial, and industrial zones, & providing a strategic corridor for businesses to thrive and increase the movement of investors,” said Yashank Wason, Managing Director of Royal Green Realty.