The Dwarka Expressway’s improved connectivity has doubled property prices, attracting businesses and homeowners. However, rising costs risk making housing unaffordable for the middle class without more mid-income options.
Gurugram: Lands and properties around the Dwarka Expressway in Gurugram witnessed an appreciation in rates in the past four years, and are expected to rise by 15-20 per cent more in the coming two years. The rising rates have brought the Dwarka Expressway area into the list of the fastest-growing areas in the NCR (National Capital Region). According to PropEquity, the launch prices along the Dwarka Expressway were Rs 9,434 per sqft in 2020, which climbed to Rs 18,668 per sqft in 2024, said TOI. Meanwhile, the earlier cost of 1.8 Crore for a 3BHK flat in 2022 has grown to Rs 2.6-4 crore this year.
Not that the Dwarka Expressway is completely opened, the real estate prices are going to rise by another Rs 15-20 per cent, said analysts. An 18km stretch of the expressway in Gurugram opened last year, while the remaining portion in Delhi, spanning 10 km, was launched on Sunday.
Delhi-IGI Airport in 20 Minutes
One big reason why demand and property prices are rising along the Dwarka Expressway is that it connects well with Delhi, including the IGI Airport. Another boost to the area’s connectivity came with the launch of the 76km Urban Extension Road-II. This road links NH-44 (Alipur) to NH-8, passing through places like Mundka, Najafgarh, and Dwarka, with additional routes to Sonipat and Bahadurgarh, the media report added.
Pradeep Aggarwal, founder of Signature Global, said property prices along the expressway have almost doubled in the last five years. Surinder Singh, director of GLS Group, added that these new, fast roads are like economic corridors. With travel time from Gurgaon to IGI Airport down to just 20 minutes and a direct link to the Delhi–Mumbai Expressway, the area is becoming very attractive for businesses, shops, and service industries. This, in turn, boosts the real estate market.
Homeowners are happy too. Amit Sharma, who bought a flat in Sector 109 five years ago when the expressway was not ready, said that now the road is open, commuting is much easier and property prices are likely to go up even more.
However, Vishwa Mohan, a real estate consultant in the city, pointed out that there is a downside. Rising land and building costs mean homes are getting more expensive, which makes it harder for middle-class buyers to afford them. He warned that unless developers offer a good mix of high-end and affordable housing, the gap between what people earn and what homes cost will keep growing.