Highest increase in property rates in this area of Delhi NCR, increase of more than 40 percent in 2 years
According to data from real estate advisory firm Anarock, about 53,000 housing units were launched around the expressway between 2013 and 2023, of which more than 80 percent of the units have already been sold. Let us know about it in detail.
The Kalamkar News (New Delhi). The average prices of houses in the residential projects around the Dwarka Expressway in Gurugram, adjacent to the country's capital Delhi, have increased by 83 percent in the last 10 years and with the opening of the first section of this expressway, the prices may increase further. Real estate experts have made this estimate. Prime Minister Narendra Modi had inaugurated a 19-km stretch of the total 29-km Dwarka Expressway in early March.
According to data compiled by real estate consultant Anarock, about 53,000 housing units were launched around the expressway between 2013 and 2023, of which more than 80 per cent of the units have already been sold.
Prices doubled in 10 years
The average prices of houses in the primary residential market of Dwarka Expressway increased from Rs 4,530 per sq ft in 2013 to Rs 8,300 per sq ft in 2023. Pradeep Aggarwal, chairman of realty firm Signature Global, expressed hope that the demand and supply will remain strong on Dwarka Expressway, which will lead to an increase in prices. He said, 'There is an indication of 20-40 percent price increase in the next two-three years.'
Experts expressed their estimates
Mohit Jain, managing director of realty firm Krisumi Corporation, said property prices in the area have increased over the past few years and with the operationalization of the expressway, rates may increase by 10-15 per cent in the coming months. Senior Vice President of Allen Group, Vineet Dawar said that there is a possibility of price increase of about 10-15 percent.
Dheeraj Dogra, vice president and head of sales and marketing, MVN Infra, said, 'The outlook for luxury homes remains positive. Sales are expected to increase by about 50 percent by the end of this year.
Anarock Vice Chairman Santosh Kumar said, 'The average house prices in this area have increased by 41 percent between 2020 and 2023. Now with the opening of the expressway, it is likely to increase further.