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Dwarka Expressway Corridor of growth DWARKA EXPRESSWAY Corridor Description and Rating Areas Included: Sectors 37C, 37D, 99, 99A, 101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 110A, 111, 112, 113, 114 and 115 Fig 1: Map of the corridor 02 Corridor of growth (COG) About the Corridor Introduction: The Dwarka Expressway or In terms of acquisition cost (Rs lakh), almost areas which fall under certain distance on the Northern Peripheral Road (NPR) Corridor one fourth supply in the corridor is in the Rs either side of the MRTS Corridor will be eligible covers new development areas along and off 60-80 lakh bracket. This is followed by the Rs for increased Floor Area Ratio (FAR). This will the Dwarka Expressway from Sector 37C in 80 lakh to Rs 1 crore segment. About 55% of be available even if applicable FAR as per the south to Sector 115 in the north. Except supply in re-sale market is in the Rs 60 lakh to original development norm for the area has for Sector 37C and 37D, all other sectors fall Rs 1.2 crore range. been exhausted. west of the Delhi-Rewari Railway Line which The price levels across most sectors has Dwarka Expressway has a Metro Corridor marks the eastern boundary of the corridor remained stagnant for some time and this planned along its alignment. The area on and separates it from old established areas. situation is likely to persist in the short to either side of the expressway will be eligible While the Expressway continues further medium term. for higher development. This will put more south from Sector 37D, only the portion till residential and commercial developments in Sector 37D has been considered as this area is The corridor presently lacks social and support the market. most dependent on operationalization of the infrastructure. A few schools have opened in Dwarka Expressway. the corridor but for all its major and minor The increased supply under the two new requirements, the projects in the corridor policies will add to more supply in the market This corridor is import as it accounts for for foreseeable future will have to rely on and this in turn, is likely to keep prices at a significant development activity. It is home infrastructure in the east of the Delhi-Rewari stable level. to more than 100 residential projects with Railway Line in old areas of Gurgaon. 50,000 plus residential units between them. Present Status: The Northern Peripheral The entire corridor, encompassing residential New Development Policies & Impact Road (NPR), more famously known as Dwarka projects and infrastructure (roads, water, on Dwarka Expressway: The Haryana Expressway, is a 150 meter wide and 18 sewerage, electricity), is in various stages Government has introduced two new policies km long road which will connect Dwarka in of development. The corridor has seen which will impact the real estate sector in Delhi with Kherki Dhaula on the National participation by end-users and investors alike terms of supply and price levels. These policies Highway-8 (NH-8) in Gurgaon. The project and hence, lot of public interest is riding on are: was commissioned in 2007 and while most the development of this corridor. of the project (14 km out of 18 km) has been a) New Integrated Licensing Policy 2015 completed, it has not become operational as Current Status: Projects in the corridor are (NILP-2015): Under NIPL-2015, the minimum some key patches of the alignment are stuck in various stages of construction with some area norms for developing a residential plotted in litigation. having received part Occupation Certificate colony has been reduced from 100 acre to 25 (OC). However, most of the projects are some acre. Earlier the residential development was The future of the corridor is linked to NPR time away from completion. HUDA is in the restricted to 20% of the net planned area of becoming operational as it presently lacks process of laying infrastructure in the corridor. a sector and balance land remained unused. acceptable level of connectivity. We present This includes water distribution network, Under NILP-2015, licenses will be granted for below the key points which summarize the sewerage pipes, electricity and construction area beyond 20% allowed in each sector for present scenario with respect to NPR and also of various sector roads and completion of the Group Housing. Land which was hitherto lying highlight the key challenges holding up the Dwarka Expressway. unused will become available for developing completion of the road. residential colonies. The real estate activity is at a low tide and a) Ministry for Road Transport, Highways new project launches have declined sharply This means an additional supply in the form of and Shipping has recently announced the as compared to the previous years. There is residential plots and Group Housing will enter granting of National Highway status to NPR. existing unsold inventory in the market along the market in due course of time. This will As and when this actually happens, the land with options available in the resale segment. help to keep the land value and price of end- acquisition, construction and management products at a low level. The overall price level of the road will be undertaken by National The corridor offers options of apartments, in the market will remain stable as more land Highway Authority of India (NHAI). This is high-end villas and residential plots. The becomes available through this policy. expected to speed up clearance of pending capital value is higher in sectors close to Delhi. issues. NHAI is in the process of undertaking Price in the re-sale market ranges from Rs b) Transit Orient Development (TOD) Policy: a Detailed Project Report (DPR) of the 4,000-9,000 per sq ft. The average price level The state government has come out with expressway. However, the timelines for actual in the same is Rs 5,043 per sq ft. Compared to the Transit Orient Development Policy which process of final notification and takeover by the residential markets of Gurgaon which are aims to encourage commercial & residential NHAI are not clear at present. to the east of NH-8, the average price level is development along the Mass Rapid Transit 30%-40% lower. System (MRTS) Corridor. Under the policy, b) HUDA is planning to make 13.5 km stretch 03 Corridor of growth (COG) of Dwarka Expressway operational by August responsibility of the Delhi Development Given the present situation, completion of the 2016. This stretch is free of any litigation and Authority (DDA). However, DDA has not yet Dwarka Expressway will take at least another most of the work has been completed. It will acquired land for implementing this stretch 2-years. However, the silver lining is the connect to NH-8 at Kherki Dhaula through an of the road. No clear timelines are available announcement of NH status to the highway. underpass or a flyover. This will provide much on when this will be completed. Therefore, Once the Dwarka Expressway comes under required connectivity between sectors and even if HUDA completes its part of the Dwarka NHAI, it will help to address a number of other areas of Gurgaon through NH-8 as well Expressway, connectivity to Delhi might still bureaucratic hurdles. For example, the issue as the existing access roads. not be available. of inter-state coordination for completing the expressway on the Delhi side will get c) The Haryana Urban Development e) The Railway-Over-Bridge (ROB) on the addressed as a single body (NHAI) will be Authority (HUDA) had reached a settlement Delhi-Rewari Line is yet to be completed. As responsible for the whole expressway. with residents in New Palam Vihar and Kheri the ROB ends towards Sector 99, a factory Dhaula whose homes were to be acquired for exists in the alignment of NPR. This factory is Even the planned partial operationalization of implementation of the NPR. The litigation had yet to be removed for work to be completed. the expressway and connectivity to Gurgaon been holding up road construction activity in will add some impetus to the residential f) There are other flyovers planned at some Sector 110 towards Delhi and Kherki Dhaula segment in the corridor. Price levels are critical junctions along the expressway but near NH-8. As part of the settlement plan, expected to remain stable in the medium their development timelines are not clear. HUDA is to allot alternate plots to around 700 term as unsold inventory will take some time families in Sectors 37C and 110A. However, Outlook: Dwarka Expressway offers a to clear. this process has not yet been completed due relatively less expensive residential option Purchasing a residential option in the to difference of opinion between litigants and to consumers along with integrated market is advisable for those who are HUDA on various aspects of the land allotment development of commercial and retail looking for relatively less expensive options plan. Consequently, construction activity on segments. The corridor has potential to evolve with proximity to both Gurgaon and Delhi. the incomplete stretches has not yet started. into a stand-alone hub independent of main However, consumers need to keep a 2-3 year Gurgaon. However, delay in completion of the d) The final 1.3 km stretch of Dwarka window before the corridor takes shape of a Dwarka Expressway is the biggest bottleneck Expressway which connects it to Delhi actually habitable area with proper physical and social facing the corridor. falls in Delhi and development here is the infrastructure. Overall Connectivity Social Infrastructure Security/Water Properties available in the corridor he corridor offers a wide variety of supply is concentrated in the middle of the is priced at less than 40 lacs, and is mostly in price ranges, although most of the expressway.
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