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Infrastructure: Gurgaon realty’s future bright with new Expressway

HIGHWAY-EXPRESS

With the coming up of the Dwarka-Gurgaon Link Expressway, the entire face of realty in the surrounding areas stands to change in good measure.

The Gurgaon real estate market is going to see a key catalyst that will help the development of the new Gurgaon area. The Dwarka-Gurgaon Link Expressway, also known as the Northern Peripheral Road or NPR, is already the talk of the town with its work going on in full swing.

Out of the total 18-km stretch of land for the Expressway, about 16 km has already been acquired and the work allotted. Although there is a problem with a 2-km strip where houses lie across the proposed stretch, experts do not think it will pose any problem once the government takes a decisive stand.

Just as in the 90s when the focus gradually shifted from the road providing access to the Maruti Udyog factory to the current NH8, a similar shift is expected towards the NPR in the near future. This is not without reason as the NPR will provide much faster access to the airport. It will connect close to the 100m wide road proposed in the New Master Plan and touch Delhi near Dwarka Phase II. It is also proposed to have a metro corridor running parallel to the road.

The Expressway starts from Dwarka, crosses Bijwasan, New Palam Vihar, Kherki Daula and finally connects NH8. It will benefit sectors 81 to113. There will be a commercial belt touching sectors 105,106, 109,110, 110A, 111, 112 and 113 with sectors 100 and 101 being slotted for public utilities while 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.

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Starting from the Delhi side, developers in these sectors are Emaar MGF (107, 102, 103, 99, 82, 84), Sobha Developers (Babupur and Bajghera), Puri Constructions (village Chauma), BPTP (99, 102, 104, 113 and other sectors), Raheja Developers (village Pawla), Uppal Housing (99), Mahindra Lifespaces (110A), Bestech (81, 82, 92) and Vatika (82, 83).

Vineet Relia, CEO, SARE India, who has projects in Sector 92, says: “This area will definitely get a boost due to the Expressway. Another good thing for this area can be a proposal by the authorities to let the developers do the sectoral roads.”

Sectors such as 81, 82, 85, 86, 90, 91, 92, 93 and 95 are about 3 km from this Expressway and buyers investing in these areas will bypass the traffic at the Gurgaon Toll Booth near Delhi during peak hours and comfortably reach their destinations. For New Gurgaon, the government is thinking of giving the work of the sector roads to developers.

Experts believe that not just New Gurgaon but also the people residing in Old Gurgaon will reap benefits after the completion of this Expressway which will also improve the airport connectivity to areas like Manesar and Jaipur as people can then easily bypass Gurgaon.

“The areas near it are expected to become the most posh areas as this Expressway will meet Diplomatic Enclave 2 in Dwarka. We can say that this area will become second only to areas such as Shantiniketan and Vasant Vihar in South Delhi,” says Navin Raheja, chairman and managing director (CMD), Raheja Developers.

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The Expressway has also given a strong fillip to SEZs (special economic zones) coming up near it – Reliance (multi-services) and Rahejas SEZs (engineering) — both of which have been notified.

“Our SEZ will generate employment for around 50,000 employees and will have around 9,000 residential units which has already been cleared by Board of Approvals while another 20,000 units are in the pipeline,” adds Raheja.

“Government authorities in Gurgaon should choose from other best practices elsewhere and aim at providing infrastructure along the Northern Peripheral Road before large scale development takes place. This includes sector road, water and sewerage mains, electric sub stations etc. The biggest risk for any buyer in this area is the potential delay in the construction of the NPR which would further delay development in this area,” says Vivek Dahiya, Founder and CEO, GenReal Property Advisers (P) Ltd.

“Such developments are good for the public. Everyone who is investing in property is concerned about the connectivity and any area that is enhancing traffic movement is good for investment. People should always check facts about these developments and invest accordingly,” says RK Jain, Executive Director, Wave Infratech.

The appreciation of property prices will be good near this area. Pradeep Mishra, real estate analyst, says: “For example, let us take the case of Mahindra Lifespaces which opened prices last year with Rs 2275 per sq ft in Mahindra Aura and now when they launched phase II the price was Rs 3175. This in itself shows the kind of appreciation the place has seen and also the rise in price property will witness here. In the near future and after the completion of this Expressway, prices might soon touch the Rs 6,000 mark.” In other words, realty development can be expected to speed up on the upcoming Expressway in the immediate future.

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*The Dwarka-Gurgaon Link Expressway will provide much faster access to the airport
*A good thing for this area can be a proposal by the authorities to let the developers do the sectoral roads
*The Expressway has also given a strong fillip to SEZs coming up near it—Reliance (multi-services) and Rahejas SEZs (engineering)—both of which have been notified
*Government authorities in Gurgaon should choose from other best practices elsewhere and aim at providing infrastructure along the Northern Peripheral Road before large scale development takes place

Navin-rahejaThe areas near it are expected to become the most posh areas as this Expressway will meet Diplomatic Enclave 2 in Dwarka. We can say that this area will become second only to areas such as Shantiniketan and Vasant Vihar in South Delhi
Navin Raheja, CMD, Raheja Developers


vivek_dhaya
Government authorities in Gurgaon should choose from other best practices elsewhere and aim at providing infrastructure along the Northern Peripheral Road before large scale development takes place. This includes sector road, water and sewerage mains, electric sub stations etc. The biggest risk for any buyer in this area is the potential delay in the construction of the NPR which would further delay development in this area
Vivek Dahiya, Founder and CEO, GenReal Property Advisers (P) Ltd

R_K_jainSuch developments are good for the public. Everyone who is investing in property is concerned about the connectivity and any area that is enhancing traffic movement is good for investment. People should always check facts about these developments and invest accordingly
RK Jain, Executive Director, Wave Infratech

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