Dwarka Expressway Emerging as One of the Top Realty Hotspots in India
Dwarka Expressway continues attracting property buyers in Delhi-NCR. Out of the various upcoming real estate markets across the country, Powai area in Mumbai and Dwarka Expressway in National Capital Region (NCR) have caught the attention of property developers and buyers alike. Located at the crossroad of Delhi and Gurgaon, the expressway apart from providing another way of connecting Dwarka in Delhi and Gurgaon, is also the site for several residential and commercial buildings. According to most realtors, it has emerged as a major real estate centre in the region.
Apart from providing several affordable and spacious residential options, the region has also emerged as a major commercial area with several IT hubs being functional in sectors 89, 113 and 114. According to reports, during the last 12 months the average property rates have been reduced by around 2.5%.
In the past quarter, the average property prices have been relatively stable. Dwarka Expressway is home to several properties with an average price of property ranging from INR 5,000 per sq. ft. to INR 9,000 per sq. ft. Though, there are several properties within affordable range too. Price of property has been eased and several concessions offered under PMAY (Pradhan Mantri AwasYojna) scheme.
Similarly, in Mumbai, Powai area has emerged as a popular residential centre during the last two decades. Though, Powai came into prominence when IIT-Mumbai was established in 1960s, construction activities started after nearly three decades. Thanks to excellent connectivity with other regions of Mumbai through rail and road network (Eastern Expressway Highway, Saki-Vihar Road and Jogeshwari-Vikhroli Link Road), Powai has emerged as a popular location.
Other regions which are emerging as a popular real estate destination include Hinjewadi, Manjari and Wakad areas in Pune; Whitefield, Hosur Road, and Kanakapura Road in Bengaluru; HITEC City and Gachibowli in Hyderabad.
