The Northern Peripheral Road or the Dwarka Gurgaon link expressway is due to be completed in 2012.Once this happens,development of the sectors around this road will accelerate already,realty prices of several projects have appreciated in anticipation.
Dwarka-Gurgaon link expressway (Northern Peripheral Road or NPR),which is under construction,has becomes the talk of the town.The 150-metre-wide and 18km-long expressway is likely to be completed within 18 months,by October 2012.Indiabulls has bagged the contract for this project costing Rs 43.32 crore.
The NPR has become an USP for over two dozen builders,who have projects lined up on the stretch.The shift to NPR is solely because it will provide faster access to the airport;it will connect close to the 100m-wide road proposed in the new master plan;it will reach Delhi near Dwarka Phase II (which will house the proposed diplomatic enclave) and the current Metro corridor,which will run parallel to the road.
The expressway starts from Dwarka and crosses Bijwasan,New Palam Vihar,and Kherki Daula and finally joins NH-8.The areas that are going to reap rich dividends are Sectors 99-113 and Sectors 83 and 84.There will be a commercial belt touching Sectors 105,106,109,110,110A,111,112 and 113 with Sectors 100 and 101 being for public utilities.And then Sectors 114 and 88 are fully commercial.Other residential sectors that are a little far away from the expressway but will benefit from it are 81-86,89-93 and 95.
The developers in these sectors are Emaar MGF (107,102,103,99,82,84),Sobha Developers (Babupur and Bajghera),Puri Construction (Chauma),BPTP (99,102,104,113 and other sectors),Raheja (Pawla),Uppal Housing (99),Mahindra Lifespaces (110A) and Bestech (81,82,92),Vatika (82,83),Earth Infrastructures (112).SARE launched Green ParC Phase III of their Crescent ParC in sector 92.
Vikas Gupta,director of Earth Infrastructure,says: "Sectors near the expressway are expected to become posh areas as this road will meet Diplomatic Enclave 2 in Dwarka.We can say that this area will become second to areas such as Shantiniketan and Vasant Vihar."The firm has recently launched a residential project,Earth Copia,in Sector 112.
"This area will get a boost by the expressway.Another good aspect for this area can be a proposal by the authorities to let developers do the sector roads.Though nothing has been finalized on this aspect,if this were to come about,then completion of sector roads will not be a problem here,"says Vineet Relia,the chief executive officer of SARE India.
Navin M Raheja,the managing director of Raheja Group,says: "Sectors 81,82,85,86,90,91,92,93 and 95 are around 3km from this expressway and buyers investing in these areas will be able to avoid traffic snarls at Gurgaon toll point during peak hours.For New Gurgaon,the government is planning of allow developers build sector roads."
"Government authorities in Gurgaon should choose from other best practices and aim at providing infrastructure at and around the Northern Peripheral Road before large-scale development takes place.This includes sector roads,water and sewerage mains,electric sub-stations etc.The biggest risk for any buyer in this area is potential delay in construction of the NPR which would further delay development in this area,"said Vivek Dahiya,founder and CEO of Gen-Real Property Advisers (P) Ltd.
Navin says that the appreciation of property prices will be good near this area.A real estate analyst says: "Let us take the case of Mahindra Lifespaces which sold Mahindra Aura last year at Rs 2,275 per sq ft and now,when they launched Phase II of the project,the price was Rs 3,175 psf.This in itself shows the kind of appreciation the place has seen and also the rise in price property will witness here.It is believed that after the completion of this expressway,prices might touch Rs 5,000 psf mark. The managing director of Orris Infrastructure,says: "The proximity of these areas to Dwarka-Gurgaon link expressway will help the residents here bypass the traffic at Gurgaon toll near Delhi during peak hours.We are coming up with projects on more than 1,200 acres of the land bank located in these prime developing sectors."
New Gurgaon booming with opportunities
V Square Development Company recently launched a commercial project,114 Avenue,strategically located at a prime location in Sector 114 (Dwarka-Gurgaon expressway).Vivek Seth,the managing director of the firm,says: "Gurgaon has become one of the top destinations for residential and commercial purposes owing to its world-class infrastructure and amenities,connectivity with neighboring states and also because of the close proximity to IGI airport.Metro rail connectivity to Delhi is a lifeline."
Rakesh Yadav,the managing director of Antriksh Group,says that newly developing areas like the Sectors 80 to 93 in Gurgaon are an ideal showcase of the development in the region as lots of construction works are taking place here as it becomes a residential and commercial hub.
These sectors are also attracting attention as they are connected to major Industrial zones like Manesar,which houses leading industrial units like Honda,Maruti,etc.
A NEW LIFELINE
The Dwarka Expressway is aimed at providing the shortest route between the new growth centres of Delhi and Gurgaon.TEAM MAGICBRICKS reports
Dwarka Expressway,or commonly known as the Northern Periphery Road (NPR),is an 18km stretch of 150mwide road.This road is aimed at providing the shortest distance between the new growth centres of Delhi and Gurgaon.The NPR will directly connect Dwarka,Palam Vihar,NH-8,Reliance SEZ and Indiabulls SEZ.
Once the Dwarka Expressway becomes operational,it is expected to save time and distance since it will help people bypass the traffic congestion at the Gurgaon toll during peak hours.
The sectors along the Dwarka Expressway are 103,109,110A,111-113.These sectors are projected as the new residential areas with a lot of future potential.Developers find this location attractive on account of proximity to the International Airport on one side and NH-8 and the Kundli-Manesar-Palwal (KMP) Expressway on the other.The capital value of residential units has registered an increase from Rs 2,300-2,500 per sq ft in 2008 to Rs 3,300-3,750 per sq ft in 2011.
Vivek Seth,the managing partner of V Square Development Company Pvt Ltd,says that with the land acquisition nearing completion and awaiting hearing from the court on demolition of some houses in Palam Vihar,Dwarka Expressway is all set to provide new connectivity between Gurgaon and Dwarka and the international and domestic airport resulting in increased real estate activity in the area,from Sector 99 to 115 in Gurgaon.
"The developing sectors of Gurgaon,particularly residential Sectors 102 and 103,located in proximity to the proposed SEZ area as per the Gurgaon-Manesar Master Plan 2021,will be hot property in the near future,"Seth says
Seth added that infrastructural issues like bad connectivity,shortage of power,lack of green areas and parks and low water levels,which are there in most of the sectors of Gurgaon
would not be there in these
sectors.Therefore,investment in these sectors is very lucrative and,perhaps,will give returns manifold in comparison to any other sector in Gurgaon.
Indiabulls Centrum Park and Enigma (Sector 103 and 110),Raheja Vedas and Shilas (Sector 108 and 109),Mahindra Lifespaces Aura (Sector 110),BPTP Amstoria (Sector 102),Earth Infrastructure Copia (Sector 112),are some of the builders who have already launched projects along the Dwarka Expressway.
"Projects like Raheja Shila,Indiabulls Centrum Park and Mahindra Aura are ready and expected to be handed over for possession by end-2012.
There is a lot of demand from end users in the resale market because of affordable values and the scarcity of alternative properties within this range in the established sectors of Gurgaon (in the stretch closer to Delhi)."
The contract for the Dwarka Expressway was awarded to the infrastructure wing of Indiabulls,for Rs 43 crore.The design specifications have been given to the firm and the work has just started.As per the contract,the expressway should be operational by the end of 2012 or by early 2013.
