Delhi NCR: The Northern Peripheral Road popularly known as the Dwarka Expresswayhas become the hottest location for real estate development in northern sector of India.
According to a survey Dwarka Expressway has recorded an appreciation of almost 50% in property prices. As compared to other localities of Delhi-NCR, the upcoming residential projects present in the vicinity of the expressway had witnessed highest appreciation last year. It is one of the highest appreciations in Delhi- NCR as well as in metropolis cities like Delhi, Mumbai, Pune, Bangalore and Kolkata.
Earlier due to rudimentary infrastructure the property prices in this locality were reasonable. But now as the infrastructure has augmented rapidly and due to the excellent connectivity, the property prices have raised from Rs. 3,500 per square feet to Rs.5, 000.
Dwarka Expressway connects the south west sub city Delhi with Gurgaon. It is one of the paramount expressways that spread across 18kms in length and 150 meters in breadth. It has 8 lanes in total. The residential market in the environs of Dwarka Expressway is witnessing an upsurge due to vital factors like tranquil ambiance, easy connectivity to other parts of the city and expansion of IT zones in the proximity.
One of the key reasons for the property price rise in Noida is the improved Metro connectivity. Pitam Pura, Sarita Vihar, Mayur Vihar Phase I are some of the prime locations in Delhi which has observed the highest appreciation of 27% to 30% in property prices whereas other areas like Patparganj, Janakpuri and Dwarka Sector 9 and 22 have observed an average appreciation of 20%.