Dwarka Expressway Gurgaon
The area called the
Dwarka-Gurgaon Expressway is seeing significant buyer and investor interest and
is one of the promising realty markets in the National Capital Region (NCR).
Dwarka Expressway, also
called the Northern Peripheral Expressway, when complete would be an eight-lane
expressway, being developed by the Haryana Urban Development Authority (HUDA)
at a cost of R120 crore.
As a part of the
Gurgaon-Manesar Master Plan 2021 (Urban Complex Plan), the expressway will
connect Dwarka to National Highway 8 and will have 30 metres of green belt on
both sides.
The proposed location will
stretch 18kms, starting from Dwarka, connecting Palam Vihar and the forthcoming
special economic zones in Gurgaon and would join the NH 8 near Kherki Dhaula.
It is expected to reduce the travel time from west Delhi by half. Also, the
expressway will touch 16 new nearby residential colonies and a commercial
corridor.
Before we take up the
viability of Dwarka Expressway as a location of interest, let us discuss some
of its advantages:
The proposed 18 km
expressway is expected to be one of India's widest roads ever, at 150 meters.
As a simple comparison, the current Delhi-Gurgaon expressway is 75 meters wide.
The new Terminal 3 of
Indira Gandhi International Airport would be accessible within a few minutes
drive and is also close to the new commercial/hotel corridor being developed
near the international airport.
It is also close to the
18-hole golf course proposed in Dwarka by the Delhi Development Authority.
Extensive belt reserved
for commercial development along the new Dwarka Expressway, which can tap into
the population of Dwarka and west Delhi for potential job seekers as well as
providing job opportunities in proximity to those living in this area.
This area is a part of
'New Gurgaon', which is being developed with better infrastructure, to match
the standards set by Greater Noida. The internal roads being planned in this
area are expected to be 60-75 metres wide. Also, the sewage and electricity
distribution systems are likely to be better and more modern.
There is a decent existing
infrastructure of schools, shopping centers, hospitals in Palam Vihar, Gurgaon
and Dwarka, which are close to the expressway.
The metro station in
Dwarka, Sector 22, is only a few kilometres away from the expressway.
Proximity of the
residential and commercial properties to the proposed Diplomatic Enclave with
39 embassies, which is being developed in Dwarka.
As already mentioned
earlier, the infrastructure being planned for this area is quite developed. The
sector roads would be 90 metres in Dwarka Phase II and 60 meters in new sectors
along the Dwarka expressway, relieving hassles of traffic congestion.
Since the expressway is
expected to take approximately 1.5-2 years to complete and be fully operational
and with the same time required for the entire area to develop, developers have
started selling their projects at attractive rates.
The current rate at which
reputed developers are selling their residential apartments are in the range of
R3,000-4,500 per sq ft for mid-segment projects. The luxury projects are in the
range of Rs 5,500-6,500 per sq ft.
These rates are almost
half of the rates prevailing in the well developed projects in Gurgaon, and
almost one third when compared with the prices prevailing in Dwarka in
reasonably good housing societies. The quality of the projects coming up on
Dwarka Expressway is much better than the high priced group housing societies
in Dwarka with virtually no power back up, club, sports facilities, etc.
All the above factors
indicate that the current rates are reasonable and should be sustainable, if
the pace of development remains the same and if the promises relating to the
infrastructure are delivered on time.
Having spoken to a few
major developers who already have projects along the expressway, it seems that
a good commercial space would soon be created along side the residential
projects, which would almost guarantee a situation similar to the Golf Course
Road in Gurgaon.
To conclude, Dwarka
Expressway, with all the advantages, certainly makes sense at current
prevailing rates. The rates of the plots in this area are also at
R40,000-50,000 per sq yard, which are quite decent considering the rates
prevailing in Delhi and Gurgaon.
Even as the locational
advantages present a good opportunity, it is very important to select the right
builder and the location and buy only if the price is reasonable. Finally, if
everything goes as per plan, Dwarka Expressway will definitely be a good place
to stay in the coming years.
—The author is MD, Bajaj Capital
From -
http://www.indianexpress.com/news/dwarka-expressway-an-update/919280/0#sthash.eK0CIjbP.dpuf
New Update on 28/3/13
Source - http://timesofindia.indiatimes.com/city/gurgaon/Project-faces-roadblocks-on-all-sides/articleshow/18247407.cms
Source - http://timesofindia.indiatimes.com/city/gurgaon/Project-faces-roadblocks-on-all-sides/articleshow/18247407.cms
GURGAON: Given the host of
obstructions to the construction of the Dwarka Expressway or theNorthern Peripheral Road (NPR), commuters will have to wait for a long time before
they can actually use the road.
The NPR, which was supposed to be completed by March 2012, has already missed several deadlines. The acquisition of around 60 acres of land at various spots along the 18km stretch is holding up the construction work.
There are several houses, factories, shops and plots which are built on these 60 acres of disputed land. As many as 19 cases are lying with Punjab and Haryana high court in this regard.
There are 12 factories that fall in the way of the road project. In keeping with the court's direction, factory owners have been allocated land in lieu of the present location. Most of the factories have not relocated within the nine-month deadline given to them and the Haryana Urban Development Authority (HUDA) has started the process of acquiring the land on which they stand.
HUDA has acquired land in the upcoming Sector 110A to compensate it to the residents of New Palam Vihar whose houses are coming in the way of the road. However, residents are not very keen on the proposal and said they would only move to the new place if all their demands are met.
At present, out of a total length of 18km, work is going on in only on 11.8km. The construction work is going on in 12 patches, 5.1km being the longest. There are many small patches measuring as short as 200 metres. However, not a single patch is connected to the main road.
Besides the legal cases, there are several other issues which HUDA will have to sort out to complete the construction work. High-tension wires come in the way of the expressway. It has been learnt that an estimate of Rs 19.54 crore has been approved by HVPNL in this regard.
A portion of land under SEZ and HSIIDC also fall in the way. The approval of land to HUDA is still awaited although HUDA has started the construction work. However, the approval and transfer are important for fast and unhindered construction work.
Moreover, there is need to divert a portion of forest land measuring 0.792 hectare. HUDA has already written to the forest department in this regard, but approval is still awaited.
There is also a plan to build flyovers on Pataudi Road, Basai Road, Daultabad Road and Bajghera Road surrounding NPR. A meeting in this regard was held on January 22, 2013 with PWD (B & R).
An estimate of Rs 12 crore has been prepared for the electrification work, whereas around Rs 4.5 crore will be spent for the horticultural work of the NPR.
On January 24 2013 , a review meeting was conducted by the financial commissioner (town and country planning) to discuss the progress report of the NPR was held.
The NPR, which was supposed to be completed by March 2012, has already missed several deadlines. The acquisition of around 60 acres of land at various spots along the 18km stretch is holding up the construction work.
There are several houses, factories, shops and plots which are built on these 60 acres of disputed land. As many as 19 cases are lying with Punjab and Haryana high court in this regard.
There are 12 factories that fall in the way of the road project. In keeping with the court's direction, factory owners have been allocated land in lieu of the present location. Most of the factories have not relocated within the nine-month deadline given to them and the Haryana Urban Development Authority (HUDA) has started the process of acquiring the land on which they stand.
HUDA has acquired land in the upcoming Sector 110A to compensate it to the residents of New Palam Vihar whose houses are coming in the way of the road. However, residents are not very keen on the proposal and said they would only move to the new place if all their demands are met.
At present, out of a total length of 18km, work is going on in only on 11.8km. The construction work is going on in 12 patches, 5.1km being the longest. There are many small patches measuring as short as 200 metres. However, not a single patch is connected to the main road.
Besides the legal cases, there are several other issues which HUDA will have to sort out to complete the construction work. High-tension wires come in the way of the expressway. It has been learnt that an estimate of Rs 19.54 crore has been approved by HVPNL in this regard.
A portion of land under SEZ and HSIIDC also fall in the way. The approval of land to HUDA is still awaited although HUDA has started the construction work. However, the approval and transfer are important for fast and unhindered construction work.
Moreover, there is need to divert a portion of forest land measuring 0.792 hectare. HUDA has already written to the forest department in this regard, but approval is still awaited.
There is also a plan to build flyovers on Pataudi Road, Basai Road, Daultabad Road and Bajghera Road surrounding NPR. A meeting in this regard was held on January 22, 2013 with PWD (B & R).
An estimate of Rs 12 crore has been prepared for the electrification work, whereas around Rs 4.5 crore will be spent for the horticultural work of the NPR.
On January 24 2013 , a review meeting was conducted by the financial commissioner (town and country planning) to discuss the progress report of the NPR was held.
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Thanks and Regards
Dinesh Singh | Investment Consultant
Ph: +91-8800-900-635
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