Business
Dwarka Expressway Pushes 3BHK Prices From Rs 1.8 Crore To Rs 4 Crore In 4 Years
Last Updated:
Easy access to Delhi’s IGI Airport, plus connectivity to Cyber City, Udyog Vihar, and the Delhi-Mumbai Expressway, makes the area highly attractive to investors
Experts attribute this price surge to the excellent connectivity provided by the Dwarka Expressway. (PTI/File)
Prime Minister Narendra Modi inaugurated the Delhi section of the Dwarka Expressway and Urban Extension Road-II (UER-II) on Sunday. These projects are expected to significantly reduce traffic congestion in the national capital and enhance connectivity with neighbouring cities. The Haryana section of the Dwarka Expressway is already operational.
Since the announcement of the Dwarka Expressway construction, property prices in the surrounding areas have surged and show no signs of slowing. Over the past four years, property values around the expressway have nearly doubled, with experts predicting a further 15-20% increase over the next two years. According to a study by PropEquity, the launch price on the Dwarka Expressway has risen from Rs 9,434 per square foot in 2020 to Rs 18,668 per square foot in 2024.
Similarly, the price of a standard 3BHK flat has escalated from Rs 1.8 crore in 2022 to between Rs 2.6 crore and Rs 4 crore this year.
Experts attribute this price surge to the excellent connectivity provided by the expressway. The easy access to Delhi’s IGI Airport, and connectivity to major economic centres like Cyber City and Udyog Vihar, along with a direct link to the Delhi-Mumbai Expressway, have made this area highly attractive to investors.
Property Demand Set To Rise
Navdeep Sardana, founder of real estate company Whiteland Corporation, describes the Dwarka Expressway as the most promising corridor of the NCR. The direct connectivity of Gurugram, Sonipat, and Panipat with UER-II is expected to create substantial opportunities for investors, with a rapid increase in demand for high-quality residential and commercial projects.
Pradeep Aggarwal, founder and chairman of Signature Global (India) Ltd, notes that property prices around the expressway have doubled in the past five years, driven by infrastructure that supports large-scale residential and retail development and connects to economic hubs like Cyber City.
Rising Demand For Commercial Projects
Other experts suggest the area’s development will extend beyond residential projects, with large-scale logistics hubs, retail spaces, and office developments emerging rapidly. Surinder Singh, director of GLS Group, highlights that the reduced travel time between Gurugram and IGI Airport, now just 20 minutes, and the direct link to the Delhi-Mumbai Expressway will make this area a prime location for corporates, retail companies, and service industries.
view comments
- Location :
Delhi, India, India
Read More
New European border rules have caused delays at airports across the continent, affecting flights.
Source link
A view shows a second-generation R1S at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, on June 21, 2024.
Joel Angel Juarez | Reuters
A tornado damaged part of Rivian Automotive‘s factory in central Illinois over the weekend, according to a message sent to employees Sunday night by CEO RJ Scaringe that was viewed by CNBC.
The tornado touched down on the plant, Scarigne said. That area was being used for parts storage and logistics for Rivian’s upcoming R2, which is a crucial product for the company that’s expected to be on sale this spring.
Scaringe said operations in the damaged area are expected to resume this week, while other major portions of the plant, such as its assembly lines, are operating as planned. No injuries have been reported as a result of the incident, according to a company spokeswoman.
“While Building 2 has sustained damage and is closed for the time being as we complete our assessments, I am incredibly relieved to share that there were no injuries at our plant,” Scaringe said in his message to employees.
Scaringe said the company would “share more information as it becomes available, but for now, our priority is ensuring our Normal [Illinois] team is safe and supported.”
Apparent photos posted online of the aftermath, which was first reported by TechCrunch, showed damage to the roof and at least one wall of the recently constructed building.
The National Weather Service reports the factory was hit amid a “significant tornado outbreak” that occurred Friday across the upper Midwest. Confirmed tornadoes near the factory Friday night were classified as EF1, with estimated peak winds of 100 mph, according to NWS.
Businesses can apply online through a portal for refunds expected to total $160bn.
Source link
UK’s Starmer admits should never have named Mandelson as US envoy
Ryanair flight from Milan to Manchester leaves passengers behind due to border delays
Harry Kane vows Bayern Munich have ‘a lot to play for’ after Bundesliga title
-
Fashion4 days agoFrance’s LVMH Q1 revenue falls 6%, shows resilience amid Iran war
-
Sports1 week agoThe case for Man United’s Fernandes as Premier League’s best
-
Entertainment1 week agoPalace left in shock as Prince William cancels grand ceremony
-
Business1 week agoUK could adopt EU single market rules under new legislation
-
Entertainment5 days agoIs Claude down? Here’s why users are seeing errors
-
Fashion1 week agoEnergy emerges as biggest cost driver in textile margins
-
Business1 week agoDelta Air Lines unveils first new Delta One suite in premium cabin arms race
-
Tech1 week agoA Lot of Shops Won’t Fix Electric Bikes. Here’s Why