November 7, 2024 |
The influence of Dwarka expressway on real estate in Gurugram
The Dwarka Expressway is emerging as a critical commercial real estate hub in Gurugram. Its strategic location, rapid infrastructure development, and rising demand for office and retail spaces have turned it into a magnet for businesses and investors. The expressway has a sturdy infrastructure and better connectivity, and with the rise in the need for office and retail spaces, it will change the future of Gurugram’s commercial real estate business. Property prices have appreciated significantly, reflecting the growing interest in the area’s commercial potential.
Strategic location
The strategic location of the Dwarka Expressway is one of the primary factors for the growth of real estate and other businesses. This roadway connects directly with the major business hubs in the vicinity, like Cyber City, Udyog Vihar, and Golf Course Road, which accommodate several topmost multinational companies, IT businesses, and banks. Corporations that are establishing their offices along the expressway can benefit from being close to these hubs while avoiding the high real estate costs associated with established commercial districts. Also, due to its proximity to Indira Gandhi International (IGI) Airport, this expressway is an ideal site for businesses with frequent travel needs.
Infrastructure development
The remarkable pace at which infrastructural facilities are coming up along the Dwarka Expressway is a conducive factor to its commercial viability. Large-scale developments, which include modern business parks, Grade A office spaces, and co-work spaces, are coming up along the expressway, making it a bustling commercial avenue. The expressway’s infrastructure is also business-friendly, with modern amenities and facilities incorporated. Developers have been using smart building technologies and energy-efficient designs because of the market demands.
Demand for office and retail spaces
The demand for commercial real estate along the Dwarka Expressway has been growing rapidly. There has been an exodus of companies looking to move away from the crowded areas of Delhi and Gurugram. Co-space developments that have retail offices and residential spaces are particularly famous because they offer a better all-inclusive package for employees and residents. Leading retail and high-end brands are responding to this market trend by opening stores to increase their visibility, which helps to enhance the retail status of the expressway.
The Dwarka Expressway has become a profitable commercial investment zone. Office and retail spaces have seen phenomenal growth, leading to a surge in property prices along the expressway by 41% between the years 2020 and 2023. The growth has excited many stakeholders who are ready to invest in the expressway, with most of them viewing it as a long-term investment opportunity. As more commercial projects reach completion and businesses and economic activities move into the area, the growth in appreciation of property values is expected to rise. For investors, the expressway is not only a potential source of capital appreciation but also an attractive rental return in addition.
Future infrastructure enhancements
In the future, the potential of the Dwarka Expressway as a commercial hub will increase even more. There are also planned infrastructure enhancements that will include metro lines, flyovers, underpasses, etc., making the region more helpful for business as connectivity and accessibility will be enhanced. The expressway is further likely to gain from the policies of the government inclined towards the development of smart cities and other such infrastructure promoting energy-efficient and green growth.
With planned infrastructure enhancements and a focus on sustainability, the expressway is set to play a pivotal role in shaping Gurugram’s commercial landscape in the coming years. As more businesses and developers recognize its potential, the Dwarka Expressway is poised to become one of the most sought-after commercial corridors in the NCR.
Source : Construction Week Online
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