Dwarka Expressway has been in the news for quite some time regarding its construction and rise in the real estate market the expressway is expected to bring in the areas located nearby. Termed as the first elevated urban expressway, the inauguration of Dwarka Expressway is expected in 2022.
The expressway shall improve the connectivity between Delhi and Gurgaon. As a significant part of the National Capital Region (NCR), Gurgaon today is considered a hub for MNCs and next-generation startups. Its success has also resulted in the growth of adjoining areas including New Gurgaon. Dwarka Expressway is also set to elevate the connectivity of New Gurgaon and make it the new growth corridor of the National Capital Region.
The impact on real estate
The project of Dwarka Expressway is going to have a huge impact on the real estate of Delhi, Gurgaon, and other regions in proximity to the upcoming expressway. The real estate industry experts are confident about the property prices and demands going higher once the project is completed. Many prominent real estate developers have already shown interest in the project and begun the construction of residential and commercial real estate projects in and around the expressway.
Any infrastructural development has a direct impact on the real estate market of that region. The same has been the case with Dwarka Expressway and the regions associated with it. Gurgaon in particular entered a new phase as a realty hotspot. The millennium city is now one of the most preferred residential destinations of NCR and homebuyers are showing special interests in those projects located close to the expressway.
Mr Pankaj Bansal, Director, M3M said, "Dwarka Expressway continues to be one of the major residential destinations in the Delhi-NCR. Located between the crossroads of Delhi and Gurgaon, Dwarka Expressway has emerged as the realty hotspot in Delhi-NCR. Its strategic location and excellent connectivity has made it a preferred destination for homebuyers. Due to its seamless connectivity from IGI, the location boasts of hassle free travel. Moreover, it is connected to Southern Peripheral Road, National Highway 8 and there onto areas of New Delhi. Several educational institutions, shopping complexes and hospitals are also located in the region boosting the social infrastructure. Hence the area is home to several world-class projects".
Benefits of Dwarka Expressway
Dwarka Expressway is a 29 km expressway connecting Dwarka, Delhi, and Gurgaon. The 18.9 km of the expressway is constructed in Haryana while 10.1 km remains in Delhi. The project originates at Shiv-Murti on National Highway-8 and terminates near Kherki Daula Toll Plaza.
Developed under the government's Bharatmala program meant for the construction of roads and highways across India, Dwarka Expressway comprises four levels out of which the longest is 3.6 km and the most expansive urban road tunnel/ underpass with 8 lanes, along with at-grade road, elevated flyover and a flyover above flyover.
Currently, National Highway-8 is used by approximately three lakh passengers to commute daily. Dwarka Expressway will help to divert 60% of traffic from NH-8. Hence, the upcoming expressway will reduce congestion and minimise air pollution. It will also provide benefits by generating employment, and the expected figure is 50,000 direct and indirect employment opportunities.