It is hard to imagine that there was a time when no one was ready to settle in Dwarka due to the associated electricity and water shortage, but the area has shown a tremendous growth in the past few years, and as a result one could now find a trail of sky touching buildings and best-class infrastructural facilities in the locality, complementing the soaring the prices of the area’s realty. In my opinion, it is the scarcity of land in the other developed localities of Delhi that encouraged the investors to introduce their projects in Dwarka.
What follows are some of the trends that exhibit how the Property in Dwarka is booming and the reasons behind it.
The Rates Have Doubled In 3 Years
In the past few years the locality has witnessed a standard shift, and as a result, the property rates have grown at a lighting pace in accord of the growing infrastructural development in the area. In the last three years the rates have doubled up and now it has become impossible to find a nice property to reside within the amount of 75 lacks in Dwarka. Some of the vital reasons that complemented the tremendous increase in the rates of the properties are:
- Impeccable connectivity to the national and international airport
- Connectivity to the major parts of the city through metro, DTCs, and other modes of public transport
- Scarcity of land in the developed areas of Delhi
- Government planning to introduce ISBT in sector 23
DDA Coming With New Housing Projects In The Area
The Delhi Housing Authority has increased the number to 40,000 units in the self-financing mega housing units; designed specifically for the economically backward sections (EWS) of the residential society. The December 2016 scheme of DDA would work on creating EWS flats with prefab amenities and technologies in Dwarka. Apart from that, the body will also construct over 2000 studio apartments exclusively for senior citizens, out of which 1200 would be constructed in Rohini and Maidangarhi while 800 of them would come up in Dwarka.
Thriving Dwarka Expressway
The 8 lane Dwarka Expressway was proposed back in 2008 and has come long way ahead since then. The increasing traffic on the Delhi-Gurgaon expressway was the main reason why Dwarka Expressway came into existence. Dwarka Expressway presents ample potential for the development of the residential projects along the long stretch and will also reduce the travel time between Delhi and Haryana.
In the Q-4 of 2013, the selling prices for the apartments in Dwarka Expressway ranged from Rs 5,400 to Rs 5,600 per SQ. ft., while the approximate rates for rent remained Rs 19/ft2. Big names of the realty front like DLF, Raheja, Ramprastha, Shobha, and others have planned to set up their luxurious projects in the vicinity of Dwarka Expressway.
Some Of The Projects In Dwarka
- Revanta Heights, L zone, Dwarka : Possession- Dec 2019
- Colors Krisha Heights, Dwarka : Possession- Dec 2019
- Iramya Heights, Lzone Dwarka : Possession- Dec 2021
- Classic Apartments, Sector-12, Dwarka : Ready To Move
- DDA Akshardham Apartments, Sector 19, Dwarka : Ready To Move
- Kamal Vihar Apartments, Sec-7, Dwarka : Ready To Move
- Samridhi Apartments, Sec 18B, Dwarka : Ready To Move
That said, the realty scene in Dwarka is booming with each passing year, leaving a whole bunch of opportunities to grab for both end-users and investors. The development is taking place at a very fast pace and soon the property rates will touch the sky if the development continued as projected.