Gurugram, Feb 21 (IANS): The contraction of the Delhi-Mumbai expressway which will pass through the states of Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra will give a major boost to the Sohna's realty sector as well as the key road links, which has been emerging as the new industrial hub in Gurugram.
There are several sectors in and around the under construction Dwarka expressway and on the Delhi-Alwar expressway (NH-248A) where there has been a spurt in affordable housing. Besides, affordable colonies are coming up in Sohna region, which will give a stiff competition to other players like Cyber hub, Golf Course Road and Golf Road Extension Road.
Sohna's sector-28A and 36 have evolved into affordable and mid-segment hubs. Group housing, builder floors and villas are being built in the region.A
Sectors around Dwarka expressway have started gaining momentum in addition to group housing projects from several major developers such as Signature Global, as well as Plotted Development Affordable Housing Projects.
Real Estate experts said that Urbanization, evolving infrastructure and better connectivity are the main reasons for the growth of the Gurugram real estate sector. Due to this, investment in properties around Dwarka Expressway is getting higher.
At the same time, the National Highways Authority of India (NHAI) has been ordered by the Central Government to complete the Dwarka Expressway project by the end of 2022. Due to The construction work of this project is going on in full swing. This has led to rising property prices around the expressway. Thus, the Dwarka Expressway has also become a new realty hotspot for affordable housing in the NCR.
Affordable houses with better facilities are being built by major developers around both the expressways. It is estimated that a private developer has invested more than Rs 65,000 crore in residential and commercial projects in Sector-103, 107. There are several projects going on near the expressway here.
According to a survey by a property consultant Anarock, prices have increased by double digits since 2014 in Sohna. Gurugram's Sohna block has also emerged in affordable housing.A
At the same time, the Delhi-Mumbai Expressway project will give a boost to real estate in Gurugram. Investors will get a better road to other facilities.
"These two major expressways (Delhi-Mumbai Expressway and Dwarka Expressway) are helping to increase the real estate business inAGurugram. Till now there was a demand for property on Golf Course Road, Golf Course Extension Road, DLF and HUDA Sectors. Ever since the construction of both expressways started, the investor has started looking towards Sohna and surrounding the Dwarka Expressway. From affordable homes to better facilities and the expansion of the metro, these are proving beneficial for the real estate sector," said Aman Gupta, a real estate expert.