In its Global City Project in Gurugram, HSIIDC has invited bids to auction three mixed-use plots, which officials claim to have a $15 billion investment potential.
Soon after the Dwarka Expressway’s development was announced, the demand for nearby real estate projects grew significantly
By Raj Singh
With the announcement of the development of Global City in Gurugram, the Dwarka Expressway has once again gained the limelight of real estate investors. Along the Dwarka Expressway, the high-budget Global City Project of the Haryana government is also envisaged. It has boosted investments and significant development initiatives in the area.
Dwarka Expressway will also guarantee not only good returns in a time frame of one and a half years but also a perfect lifestyle thanks to developments like the India International Convention Centre, which is expected to be the largest convention centre in Asia, and the planning of a diplomatic enclave similar to Chankyapuri in New Delhi.
In its Global City Project in Gurugram, the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has invited bids to auction three mixed-use plots, which officials claim to have a $15 billion investment potential. Over 1,000 acres of land will be needed to build the Global City, of which 550 acres will be used to build roads, sewer networks, firefighting systems, and other infrastructure. Residential and commercial complexes will be built on the remaining site.
Soon after the Dwarka Expressway’s development was announced, the demand for nearby real estate projects grew significantly. Significant buyers have been drawn to the area by the abundance of projects developed in every sector, including residential and commercial assets such as independent floors, high-rise buildings, shopping arcades, malls, healthcare and education facilities, and many more. In addition, the expressway’s continued construction has improved accessibility by connecting to several minor settlements through service roads.
Mahipalpur in Delhi and Kherki Daula Toll Plaza in Gurugram, Haryana, are connected by a 27.6-kilometre expressway. In Haryana, a 19 km length of the Dwarka Expressway is available to traffic in some places. The Dwarka Expressway’s advantageous position has played a vital role in the development of the area as a commercial real estate hotspot. The expressway is a prime site for firms wishing to put up their offices because it is close to the Indira Gandhi International Airport, Gurugram, and Delhi. It is also closely connected to the planned metro corridor, which will improve its connection even more.
In Gurugram’s Dwarka Expressway, Sector 37D is a residential micro-market that is rapidly expanding. With Sohna Road, Golf Course Extension Road, and national highways like NH-8, KMP expressway, as well as IMT Manesar, it has decent connectivity. Connectivity is the most potential component for changing attitudes and attracting homebuyers to new real estate hotspots. The residential micro-market has everything going for it to expand into a populous housing zone in the following few years with the development of New Gurugram nearby.
Sector 37D is seeing a rise in luxury real estate. Millennials, the next generation of home purchasers, are particularly encouraging a preference to invest in low-density developments and individual floors, which provide exclusivity, privacy, and security. They also prefer investing in emerging real estate markets versus densely inhabited corridors. This is compelling them to purchase homes in brand-new real estate regions like Sector 37D.
(The author is the director of Navraj Group)
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