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Thursday, April 25, 2024

According to CBRE, the Dwarka Expressway would transform the Delhi–Gurugram corridor real estate market

<p>The Northern Peripheral Road (NPR), popularly known as the Dwarka Expressway, has being planned as a northern ring road as part of the Gurgaon Manesar Urban Complex (GMUC) Development Plan 2031. This highway acts as a substitute for the current NH 8 and adds more connection between Gurgaon and Delhi.</p>
<p><img decoding=”async” class=”alignnone wp-image-497867″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-according-to-cbre-the-dwarka-expressway-would-transform-the-delhigurugram-corridor-750×422.jpg” alt=”theindiaprint.com according to cbre the dwarka expressway would transform the delhigurugram corridor” width=”963″ height=”543″ title=”According to CBRE, the Dwarka Expressway would transform the Delhi–Gurugram corridor real estate market 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-according-to-cbre-the-dwarka-expressway-would-transform-the-delhigurugram-corridor-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-according-to-cbre-the-dwarka-expressway-would-transform-the-delhigurugram-corridor-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-according-to-cbre-the-dwarka-expressway-would-transform-the-delhigurugram-corridor-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-according-to-cbre-the-dwarka-expressway-would-transform-the-delhigurugram-corridor.jpg 1024w” sizes=”(max-width: 963px) 100vw, 963px” /></p>
<p>There has been a persistent need to finish the Dwarka Expressway as soon as possible due to the sharp rise in traffic between Delhi and Gurgaon on NH 8 and other road networks. In lieu of NH-48, an 18-kilometer section between Kherki Dhaula and Najafgarh Road was proposed in 2006 by the Haryana Urban Development Authority, which is now known as the Haryana Shahari Vikas Pradhikaran, or HSVP.</p>
<p>Known as the Northern Peripheral Road (NPR) at first, by the early 2010s, this project has sparked a number of real estate endeavors. However, because to legal challenges, construction on crucial portions at Kherki Dhaula and Bajghera was suspended, and by 2014, only 16.6 kilometers of the project had been completed. The project was then handed over to a central agency in 2017, which made the decision to expand the Dwarka Expressway all the way to Shiv Murti, which is close to Mahipalpur in Delhi.</p>
<p>According to Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, the Middle East, and Africa, “The Dwarka Expressway is a crucial component in improving the connectivity between Delhi and Gurgaon.” The expressway serves as a significant component of both physical and economic regeneration, going beyond its function as a transportation connection. It will undoubtedly change the surrounding real estate market. The ten-year wait for the highway has already sparked a boom in residential construction, particularly in the areas that connect Delhi and Gurugram. Now that the highway has been completed, unsold inventory levels in these areas have significantly decreased from 25–30% 8–10 years ago to only 7-8% now. There are numerous sectors like sector 84, which is towards Gurgaon and has been connected to sectors 109, 110, and 113, which are closer to Delhi, where many residential projects have been launched in the last ten years, particularly in anticipation of the Dwarka Expressway. This project, specifically the 15 km inside Gurgaon, around, alongside, or in distant areas.</p>
<p>The eight-lane, access-controlled Dwarka Expressway is strategically located to pass across important residential and business areas. It is anticipated that this construction would greatly shorten travel times and ease traffic congestion between the two cities.</p>
<p>Because of this, we anticipate that land and property values in the area will appreciate significantly and may even rise in the next years, providing early investors with profitable returns on their investment. In addition, the highway’s attraction is enhanced by its closeness to important projects and the planned expansion of the Delhi Metro Magenta Line, making it a popular destination for real estate investment. An increase in demand for rental homes in the area is anticipated as a result of the enhanced connectivity and infrastructure, he said.</p>
<p>The Dwarka Expressway is home to real estate buildings that are increasingly associated with an opulent lifestyle. These developments have clubhouses, swimming pools, gyms, sports facilities, well-kept lawns, and round-the-clock security. These first-rate amenities, together with the unmatched accessibility they provide, attract both tenants and purchasers, guaranteeing strong demand and high occupancy rates. The area’s appeal as a leading destination for real estate investment is further cemented by the seamless integration of luxury and connection, which not only improves the quality of life there. The Delhi-Gurugram corridor’s real estate market will undergo a transformation because to the Dwarka Expressway, according to Magazine.</p>
<p>Real estate The Dwarka Expressway is home to an active residential real estate market with a few retail buildings. The Dwarka Expressway has had a major impact on real estate prices. All residential divisions have shown significant growth, with the premium and luxury segments leading the way.</p>
<p>Along the highway are several flyovers, connection roads, ramps, underpasses, and areas that are still under construction. These include the projected Gurgaon Manesar Expressway, the Dwarka Expressway, the Nelson Mandela Marg expansion, and the Urban Extension Road-II expansion to Ryan International School, which is located south of Rangpuri.</p>
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