March 11, 2024 |
Dwarka Expressway Inauguration: Real Estate Players Say It Will Boost Property Market in Gurugram
Even as Prime Minister Narendra Modi on Monday inaugurated the Haryana section of the landmark Dwarka Expressway, real estate players say it marks a significant milestone for the real estate sector in Gurugram and the Millennium City, radiating optimism and growth. It said the expressway will improve traffic flow and ease congestion between Delhi and Gurugram on NH-48.
The total length of Dwarka Expressway is 29 km, out of which 18.9 km falls in Haryana, while the remaining 10.1 km is in Delhi.
On March 9, 2019, the then Union ministers, Sushma Swaraj, Arun Jaitley and Nitin Gadkari had laid the foundation stone for Dwarka Expressway. The prime minister also held a road show here.
Dwarka Expressway is India’s first elevated 8-lane access control urban expressway, being constructed at an estimated cost of Rs 9,000 crore, as part of the Centre’s Rs 60,000 crore highway development plan in the NCR to decongest the national capital. The Haryana section of Dwarka Expressway has been built at a cost of around Rs 4,100 crore and includes two packages of 10.2-km Delhi-Haryana Border to Basai Rail-over-Bridge (ROB) and 8.7-km Basai ROB to Kherki Daula.
It will also provide direct connectivity to the IGI Airport in Delhi and Gurugram Bypass. Haryana Chief Minister Manohar Lal Khattar and Minister of Road Transport and Highways Nitin Gadkari were present at the event.
What Industry Players Say
Pradeep Aggarwal, founder and chairman of Signature Global (India) Ltd, said, “The unveiling of the Gurgaon segment of the Dwarka Expressway marks a significant milestone for the real estate sector and the Millennium City, radiating optimism and growth. This state-of-the-art project includes a modern eight-lane expressway, which strategically connects key locations of Delhi and Gurugram and re-shaping the landscape of Gurgaon’s property market. The project stands as a testament to the government’s dedication to fostering a dynamic urban centre.”
He added that this new expressway will not only provide better connectivity for the close vicinity and locations of SPR, New Gurugram and Sector 37D at Dwarka Expressway; it would be a catalyst for price appreciation and promises a bright future for the real estate market in the region.
Aman Sarin, director and chief executive officer of Anant Raj, said, “From a real estate perspective, the completion of the Dwarka Expressway will benefit the numerous homebuyers who have invested in properties in this region. Additionally, this milestone will unlock numerous land parcels for development, presenting fresh opportunities for both Residential and Commercial Projects.”
Mohit Jain, managing director of Krisumi Corporation, said major infrastructure projects act as a catalyst for the economy. This is the reason the government prioritises such developments. Real estate as a sector immensely benefits from improved connectivity.
Pankaj Pal, managing director of Whiteland Corporation, said, “The Dwarka Expressway, with its strategic linkage from Shiv Murti near IGI Airport to Kherki Daula toll, is set to redefine the accessibility and convenience of residents, making Gurgaon a prime destination for property investment. The commitment of Rs 9,000 crore towards this infrastructure project underscores the government’s dedication to fostering economic development and creating a conducive environment for real estate growth.”
Vipin Sharma, founder and chairman of Aarize Group, said past hurdles in urban mobility are being overcome, present opportunities are being seized, and the future holds promise for exponential growth. Enhanced connectivity not only attracts investors but also fosters sustainable urban development, creating vibrant communities and unlocking immense economic potential. “As real estate developer, we embrace such initiatives as they not only benefit the real estate growth, but also contribute to the overall prosperity and livability of the region.”
Source : News 18
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