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SUNDAY TIMES OF INDIA, NEW DELHI

AUGUST 3, 2014

DESTINATION-DWARKA EXPRESSWAY
A CONSUMER CONNECT INITIATIVE

As the last hitch in

land acquisition to
construct
Dwarka Expressway
has been sorted out,
the expressway is
likely to be
completed by the
second quarter of
2015. PRABHAKAR
SINHA writes

Market abuzz as expressway

NEARS COMPLETION

here is good news for investors

and end users who bought property along the 18km-long, 150metre-wide Dwarka Expressway in Gurgaon, with the latest estimates
saying that the project is likely to be completed by the second quarter of 2015.
Investments along Dwarka Expressway, experts say, will likely give a return
upwards of 20% CAGR. With the revival
of the economy, the demand for real estate is sure to pick up in the near future.
As the construction of the expressway
nears completion, developers will also focus on expediting the delivery of their
projects to coincide with the flagging off
of the expressway.
Work on the realty projects along this
stretch is going ahead in full steam, as
Dwarka Expressway is likely to be completed by next year, Arjun Puri, the director of Puri Constructions, said.
He said the remaining work on the balance 3km of the Dwarka Expressway project is on in full swing and the various petitioners have been given certificates of
entitlement for alternative plots in Sector 110A and 37C. The litigation is likely to be over very shortly and we expect

Investments along
Dwarka Expressway,
experts say, will likely give a
return upwards of 20% CAGR.
Witth the revival of the
economy, the demand for real
estate is sure to pick up in the
near future
Dwarka Expressway to be operational by
next year, Puri said.
Builders say that as a new government
in Haryana is likely to be formed by November, the development work is likely
to further pick up after that.
Getamber Anand, the CMD of ATS,
said that the development of other infrastructure like sewer lines, electricity
connection, and water supply are also
likely to be completed by 2015. He said
that by the time the construction of the
highway and other infrastructure is complete, the realty projects being developed
by scores of developers would also be
ready for possession.
R K Arora, the CMD of Supertech Ltd,
said that private builders under Credai
are ready to help the state government
complete the infrastructural development
as soon as possible. He said the con-

struction of the rail bridge is also in

progress. Dwarka Expressway has
emerged as one of the most sought-after
real estate destinations in the National
Capital Region (NCR) and promises handsome returns to investors owing to its
proximity to the national capital and the
IGI airport.
Construction of 15km of the 18km-long
stretch is already complete and only 3km
is left to be delivered with Huda committing to settle all rehabilitation issues.
Originally scheduled to be completed
by March 2012, the expressway will bring
Delhi and Gurgaon closer. It will also ease
the traffic problems on NH-8 and connectivity will become smoother and
faster. Interestingly, the developers who
are implementing projects on the expressway played an important role in ex-

pediting its construction; this will also

pave the way to complete the construction of their respective projects.
Because of the delay in the acquisition
of land for the project, Indiabulls, the contractor of the expressway, demanded compensation. As it was the responsibility of
the Haryana government to acquire and
hand over land to the contractor on time,
the loss due to the delay was to be compensated by the state government. But as
this settlement could have led to more delay, the developers of projects on Dwarka Expresswayunder Credais Gurgaon
Chapterpooled money among themselves to compensate the contractor.
The state government also did its part
in resolving the hurdles in acquiring land
for construction of the expressway.
There are only four small stretches

where construction has not been completed. Out of this, land for 700 metres of
the road is under various Huda utilities,
like HT pillars and water works, and the
agency is shifting them.
According to the detailed map of the
road, 800 metres has been handed over to
the Indian Railways for construction of
a rail over-bridge. Huda has already paid
the railways Rs 38 crore in advance for
this project.
The land for the balance 2.5km of road
is under a stay ordereven then, the acquisition proceedings have not been
stayed in totality. All the issues have
been settled except for those where
houseowners there are bargaining for
better compensation.
Huda announced a rehabilitation policy where people with built-up homes or

Impressive returns predicted

FOR INVESTMENTS
The realty market along Dwarka Expressway will significantly benefit from fast connectivity and
the proposed diplomatic enclave in Dwarka, placing it high on the investment-return scale.
TEAM TIMES PROPERTY writes

any other structure there are being offered alternative plots in Sectors 110 A
and 37C. The plots on offer are of almost
the same size as the plots being taken over.
Huda has acquired 145 acres in the two
sectors for this purpose. However, only
15 acres will be required to re-settle all
the petitioners. A Huda official said that
a number of villagers who
had houses on the 3km
stretch of the expressway

QUICK
BITES

DEVELOPMENT OF INFRASTRUCTURE LIKE SEWER LINES, ELECTRICITY CONNECTION, AND WATER SUPPLY FOR THE AREAS ALONG
DWARKA EXPRESSWAY ARE ALSO LIKELY TO BE COMPLETED BY 2015
DWARKA EXPRESSWAY HAS EMERGED AS ONE OF THE MOST
SOUGHT-AFTER REAL ESTATE DESTINATIONS IN THE NATIONAL
CAPITAL REGION AND PROMISES HANDSOME RETURNS TO INVESTORS
OWING TO ITS PROXIMITY TO THE NATIONAL CAPITAL AND THE IGI
AIRPORT

According to Gurgaons new

Master Plan, 2031, the proposed
expressway will reach Delhi near
Dwarka Ph
hase II, where the second
diplomatic enclave is being
developed, and connect the current
dor running parallel to the
Metro corrid
road. Once the project is completed,
the area will become one of the
prem
mier real estate zones in New
Gurgaon

eal estate developments along Dwarka

Expressway have emerged as one of the
most sough-after asset classes in the
NCR.
The realty market along this expressway is
largely flourishing over two major USPsfirst is
the expressway that is expected to be one of the
countrys widest roads ever, and the shortest route
to the IGI airport and the Millennium City.
According to Gurgaons new Master Plan, 2031,
the proposed expressway will reach Delhi near
Dwarka Phase II, where the second diplomatic
enclave is being developed, and connect the current Metro corridor running parallel to the road.
Once project is completed, the area will become
one of the premier real estate zones in New Gurgaon. The road starts from Dwarka and crosses
Bijwasan, New Palam Vihar, Kherki Daula, and
finally touches NH-8. Areas that are going to reap
rich dividends are Sectors 99-113 and Sectors 83
and 84. There will be a commercial belt touching
Sectors 105,106, 109,110, 110A, 111, 112, and 113
with Sectors 100 and 101 reserved for public utilities, while Sectors 114 and 88 are fully commercial. Other residential areas that are a little far
from the expressway but will benefit from it are
Sectors 81-86, 89-93 and 95.
Developments like these are a clear indication
that new sectors coming up around the expressway will not have the same challenges that other parts of Gurgaon had to face and by the time
the first batch of residents move into the projects, this area will be one of the most planned
and well-developed locations in Gurgaon, a
spokesman of EMAAR MGF said. He said the
properties here are sure to see healthy appreciation. More than 33,000 houses, with an approximate sale value of Rs 20,000 crore, are under construction in different sectors along Dwarka
Expressway.
Residential property along Dwarka Expressway, especially in Sectors 103-106, 109
to 113 is expected to appreciate by over 100%

have already accepted developed land in

lieu of their houses.
More than 33,000 houses are under construction on Dwarka Expressway and the
completion of the expressway will open
the doors to many more projects here.
The main developers on Dwarka Expressway include Experion, Puri Constructions, Ramprastha, Indiabulls, ATS,
Supertech, Assotech, Uppals, Raheja, Sobha, and Chintels.

in the next five years. Since 2010, projects on

Dwarka Expressway had a price tag of approximately Rs 3,000 per sq ft, which in 2012
appreciated to Rs 5,000-7,000 per sq ft for multistoreyed residential apartments. Due to the
expected high appreciation, this market has attracted investments from the NRI community.
Construction of most of the projects in areas
like Sectors 108, 109, 106, and 110 along the expressway is expected to be over in a year and a
half. Dwarka Expressway has also emerged
as a prominent destination for IT-ITeS outsourcing and off-shoring hubs; this area is
expected to have 22.3 million sq ft in new office supply by 2017 and 48 million sq ft office
space stock to be added during 2012-2017.
A number of top realty developers have already
launched projects in this area. Because of the
availability of quality products and its closeness
to Delhi and other part of the Millennium City,
it is expected that property market around Dwarka Expressway will emerge as one most popular
destinations in the NCR in the near future.
With exactly double the width of the currently operational Delhi-Gurgaon expresswayNH-

8Dwarka Expressway will also provide faster

connectivity to Delhi and other part of Gurgaon.
According to realty experts, Dwarka Expressway will also have significant impact on the real
estate development in the other new regions in
Gurgaon. Areas along the forthcoming KundliManesar-Palwal (KMP) Expressway and Pataudi
Road could be the biggest beneficiaries.
A balance of luxury and utility in the new realty projects here has attracted well-heeled NRIs,
and the domestic premium customers. These projects have extensive recreational facilities with
interconnected landscaped theme gardens and
courts with aesthetically designed water bodies,
and expansive green vistas within gated communities. Emerald Bay, being developed by Puri
Construction is one of the few group-housing
projects that open up directly on to Dwarka Expressway in the vicinity of the proposed diplomatic enclave. The project is around 7km from
the IGI airport and in close proximity to the Delhi border. These factors, coupled with social infrastructure like the proposed Metro line along
the expressway, schools, hospitals, and malls
all in the vicinitywill likely give maximum appreciation for the property here. The road in front
of the project is already built.
Experion Group has also launched a couple of
projects along the Dwarka Expressway in Sector
108. Both the projects, Heartsong and Westerlies,
are fitted with the latest high-tech gadgets to provide world-class lifestyle to residents.
Heartsong has been designed with unique offerings like outdoor gym facilities, an open-air
amphitheatre and leisure spaces in all towers
with chess, carom, snakes and ladders, hopscotch,
toss across, and sand pit for toddlers, a driverwaiting lounge, and reading corners.
The central community centre features swimming pools, a spa, jacuzzi, massage facilities and
a yoga and meditation room. Residents also have
a gym, cricket net, indoor squash court, table tennis, outdoor badminton court, half basketball
court, and a skating rink.
Westerlies is a 100-acre township, located close
to the proposed diplomatic enclave in Dwarka.
The township is adjacent to Delhi, near the IGI
airport, and well positioned on the larger developmental map of Gurgaon along the forthcoming Northern Peripheral Road.
The project offers a wide array of units, which
include plots and built-up homes in various sizes
and catering to various budgets. Westerlies forms
the spine of development while Breeze ties its
various neighbourhoods together, allowing a large
number of homes to overlook green space.
Emaar MGF has launched Imperial Gardens
and Gurgaon Greens in Sector 102 on Dwarka Expressway. Both projects are a mix of luxury and
fine-living, modern gated development spread
over 12 acres.