Building some blocks side by side is no more included into the category of town planning. With the help of some radical thoughts and creative design into work, they’ve found some investors who’ve shown interest in buying properties in Gurugram.
The Northern Peripheral Road, more popularly known as the Dwarka Expressway is a 150 meter wide and 18 km long road that connects Delhi with Dwarka with Kherki Dhaula on the National Highway 8. The projects in this corridor are at various stages of construction, with some of them having received the Occupation Certificate already. But why would you even think of getting apartments in Dwarka Expressway booked since not all the facilities are completely present?
Most of the real estate experts have noticed that all the developments revolving around the Dwarka Expressway have actually affected the realty sector in a positive way. There has been several sporadic ups and downs that the region has gone through of late. And the most significant of them lies in stabling down the robust rental market that has been prevalent in the area. According to some of the recent market trends, the market has observed a 6 percent hike in the rental values in past one year making the entire vicinity of the area a place for refuge for the second-hand home buyers and offshore investors as well. Some of the sectors that have resurfaced as regions of constant demand are the sectors 3, 13, 18A, 4, 23 and 9. Not just one, but quite a few number of factors have actually contributed to this positive growth.
The development of the Northern Peripheral Road is one of the most awaited of all projects, and it is the dispute between the Haryana Urban Development Authority and some local families regarding the possession over the area that has been a great hindrance to the development. But since it has received a green signal now, the connectivity between Gurugram and Delhi gets seamless. Since the travel time has now reduced down to mere 20 minutes, more and more investors are attracted to the place.
During the April to June quarter last year, the rate of absorption of the commercial real estate in Gurugram has got insurmountably higher. More than one million square feet of commercial space was set up with an occupancy rate of 88 percent of it. With the higher rate of absorption of commercial space, the rate of absorption for residential ones has even got higher, thereby giving Dwarka the chance to establish itself as an affordable destination for residential issues in Gurugram.
Several housing schemes have even been launched making thousands of 1BHK premium flats in Gurugram available at affordable price. The corridor offers a wide variety of price range, however, the mid-segment has received some special focus. In spite of being relatively new than the rest of the real estate market in Gurugram, the market has shown some steady performance. What cited to be one of the biggest residential schemes have started taking a solid shape enticing all the new property buyers to shift their base completely here. It is just a matter of time for the region to show its true colors to the entire real estate industry of India.
Justin Carlos is a renowned builder and have got some successful projects under his name. In this article he states the reasons why the residential properties in Dwarka Expressway has been the favorites for all.