Average Housing Prices Along Dwarka Expressway Climb 83 Per Cent In 10 Years, To Elevate Ahead: Anarock

The sector experts said that with the opening of a 19 km stretch in Gurugram out of the total 29 km Dwarka Expressway, inaugurated by PM Modi, the housing prices in the region are set to rise

Average housing prices in properties along the Dwarka Expressway in Gurugram climbed 83 per cent in the last decade and are further expected to appreciate ahead, real estate experts noted. The sector experts said that with the opening of a 19 km stretch in Gurugram out of the total 29 km Dwarka Expressway, inaugurated by Prime Minister Narendra Modi, the housing prices in the region are anticipated to elevate. 

During the 2013 and 2023 period, nearly 53,000 housing units were launched, data compiled by real estate consultant Anarock revealed. The data further showed more than 80 per cent of these units have already been sold, reported PTI.

The average prices in the primary residential market along the Expressway climbed to Rs 8,300 per square feet (sq ft) in 2023 from Rs 4,530 per sq ft in 2013. Elaborating on the real estate market outlook along the Dwarka Expressway, Pradeep Aggarwal, Chairman, Signature Global, said, “Dwarka Expressway has emerged as the epicenter of real estate growth in the Delhi-NCR region. Demand-supply to remain strong on Dwarka Expressway, leading to price appreciation. Projections indicate a remarkable 20-40 per cent price appreciation over the next 2-3 years.”

Mohit Jain, MD, Krisumi Corporation, further noted, “Roads are today the lifelines. They spur commercial and residential development in a big way. This is being witnessed alongside the Dwarka Expressway. Housing demand is high in this important micro market of the Delhi-NCR region.”

Jain also said that the property prices in the area increased in the recent years and the rates are going to potentially climb 10-15 per cent in the coming months as the expressway is now operational.

Vineet Dawar, Senior VP, Elan Group, commented, “The Dwarka Expressway area has experienced a notable price appreciation in the past 2-3 years. This trend underscores the area's investment viability and underscores its appeal to investors.” He added that prices are further expected to rise by about 10-15 per cent.  

Elaborating on the data findings, Santhosh Kumar, VC, Anarock, said, “The Dwarka Expressway has been planned to provide an alternate link between Delhi and Gurgaon and thereby reduce traffic congestion. Since its very inception, developers flocked to grab large land parcels and thereafter launch several housing projects along the Expressway. In fact, investors considered it as one of the most promising and fruitful investments. There has been a spurt in real estate activity over the years.”

The research from the consultant showed more than 10,515 housing units should be ready for possession in two years in the area. The average prices in the vicinity climbed 41 per cent between 2020-23. 

Notably, the Dwarka Expressway is a 19 km long stretch and has 8-lanes. It has been built at a cost of Rs 4,100 crore and includes two stretches of 10.2 km long Delhi-Haryana Border to Basai Rail-over-Bridge (ROB) and 8.7 km long Basai ROB to Kherki Daula.