Sagar Parag travels from Dwarka to Manesar for work every day. The drive takes him more than an hour. Parag can't wait for work to begin on the Northern Peripheral Road (NPR), which is likely to reduce his commute time by half.
Madhukar Kumar bought a plot in DLF Phase II (close to the NH8) in the late 90s at R1000 per sq yard. Today, the area commands a price of R1.5 lakh per sq yard -almost 100 times the original price.
These examples clearly indicate the importance of the proposed 150-metre wide and the 18-km-long NPR, work on which may finally begin. And once that happens, it will not only be a major direct link with Delhi (from Dwarka side) alongside NH8, but will play a major role in redefining the real estate dynamics of Gurgaon.
Realty experts point out that the residential/commercial supply that will come up along this new infrastructure development will have a “healthy dampening“ effect on the otherwise spiralling real estate values that one has witnessed of late in Gurgaon.
Going forward, once the construction for the NPR takes off, residential sectors along the NPR will see a spurt in high-end housing due to the favourable location it offers, they say. Clearly, the effect on land values is expected to be similar to the impact of the new NH8 (as in Kumar's case) once it becomes operational.
According to the new Gurgaon Master Plan 2021, about 10 to 20 new sectors are to come up along the NPR stretch, which will include residential, commercial and institutional development.
These are likely to comprise of almost 10,000 residential units. Some of the residential sectors that face the expressway include 113, 111, 110A, 110, 105, 104, 102, 99 and 37 D, among others.
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