Guest AuthorDwarka Expressway is the new growth engine of the Millennial City, Gurgaon. Also called the new Gurgaon region, there is a tremendous spotlight on the region, which has further increased in the wake of the completion of the 8-lane expressway.
The overall region comprises micro markets of 73-95 and 102-113 near the coveted expressway, built under the Bharatmala project. There is a visible growth in investments in housing projects, infrastructure development, business parks & commercial centers, malls, industriesw, warehouses, etc.
Meanwhile, 360 Realtors, India’s leading Institutional Channel Partner (ICP) has released a new report, mentioning the top-performing micro-markets of the Dwarka expressway.
“Our new report talks about the five top-performing micro-markets in the region. The research will offer practical and valuable insights and information to home buyers, investors, as well as other institutional entities who are contemplating investments in the region.” Quoted Mr. Ankit Kansal, MD, 360 Realtors.
As per the research by 360 Realtors, the top 5 performing micro-markets in the region are sec 83, 88, 91, 99, and 104. These Micromarkets have been identified across a range of factors such as 5-year price trends, last 12 months’ price growth, existing supply lines and future pipelines, etc.
Amongst these five, the fastest ones are sec 83 and 91. Average property prices have risen by 24.4 per cent and 19.9 per cent respectively over the past 12 months.
Sector 91 is situated across the Dwarka expressway and is at an approachable distance from Dwarka in Delhi as well as employment hubs in Gurgaon such as Cyber Hub, Udyog Vihar, GCR, etc. The region is party to a thriving residential community with around 40,000 population in the vicinity. Its adjacency to the industrial township in Manesar is also fueling demand. In tandem with the residential demand, the retail market is also expanding with projects such as Vatika Townsquare, Gallexie-91, Sapphire malls, etc.
Sec 83 is located adjacent to the NH-48 and is just ~ 2 km from the Dwarka expressway. It is at an approachable distance from the IGI airport (~ 45 mins), Cyber Hub (~ 25 mins), and Golf Course Road (30 mins). While the population in the micro market is around ~ 5000, if we add other nearby micro-markets such as 82, 82 A, and 85 the aggregate populace is around 40,000.
“Average property price in sec 83 is 7271/ sq ft with a 5-year CAGR of 6.5% (2018- 23). In the past 12 months property prices have jumped sharply by over 24%. There are 6470 units including a future pipeline of 21.8% (1411 units). A tranquil environment, better connectivity, and fast-moving traffic are helping the housing market grow,” Added Mr. Kansal.
In the foreseeable future, the micro-markets in the Dwarka expressway region will continue to grow fast as a residential as well as commercial market. Though the metro will take some time to enter the region, it enjoys great connectivity via a network of roadways such as NH 48, Dwarka Expressway, and Pataudi Road. Leading developers from India such as Godrej, DLF, M3M, Signature Global, Vatika, Mapsko, Axon, ATS, etc. are coming up with big launches. Likewise, the commercial and retail supply lines are also improving with new malls, commercial offices, SCOs, high streets, etc.
Aravind Sundaram
Guest Author
