Dwarka Extension: The destination buyers prefer
A burst in affordable luxury projects in metro cities has opened a wide spectrum of housing opportunities for midsegment homebuyers. The prospect of enjoying high-end amenities without stretching your budget is the key attraction for such projects. The city of Gurugram has been burstling with luxury and affordable luxury projects, which are fast coming up along Dwarka Expressway.The area has undoubtedly come up well as a realty destination preferred by buyers who are looking to buy in Gurugram or in its vicinity.
Talking about how the luxury and affordable luxury projects have come up in the area, Navin Raheja, CMD, Raheja Developers, says, “Sector-99A, in New Delhi Extension Area is very close to Dwarka Sub City, upcoming Diplomatic Enclave and approximately 20 minutes from New Delhi Airport which are considered to be the prime locations of the city.Placed a rank below the luxury housing segment, these projects are targeting a growing segment of homebuyers who seek lifestyle VINOD KUMAR features at an affordable cost.Affordable luxury is a relatively recent phenomenon in the country's real estate market. The segment, however, has evolved over a period of time owing to growing aspirations of the mid-segment homebuyer. A property, which falls under this category, has similar attributes as a luxury home.The price, of course, is lower than a luxury property. Another important characteristic of affordable luxury homes is that they are unique and do not compete with the higher segments of ultra-luxury homes.“ The area, being an upcoming location, is primarily developed to cater to all segments of buyers. Nonetheless, it would not be wrong to say that buyers definitely get a notch higher in terms of amenities in all the segments of houses that are coming up here.
Talking about the kind of growth that is predicted for this area, Jagadish Nangineni, regional head, North, Sobha Limited, says, “India's fast-paced economic growth would directly impact developments in proximity to the capital's international airport in a very positive manner.With the expressway completion being handled by the highest ranks in the government, there would be an increased pace of residential and commercial development in the next 4-5 years in Dwarka Expressway areas. High quality housing will be sought after here as well, in this time horizon, as is the case across NCR.“
The newly-developed sectors of Gurugram have emerged as attractive destinations among investors as well as end-users.They are well-connected to three major highways, which are National Highway-8 (NH-8), Kundli-Manesar-Palwal Expressway and Dwarka Expressway.
RK Arora, chairman, Supertech Ltd, talks about the real estate prospects of the city of Gurugram and its peripheral areas. “Gurugram, known as the Millennium City is a prime financial and industrial hub. Growth in the micro market of Gurugram, such as Dwarka Expressway, Sohna Road and new sectors along NH-8, has given a boost to the real estate souk in Gurugram.Due to rising aspirations, reviving economy and better infrastructure, the premium, lifestyle luxury sector of Guru gram is expected to stay on the growth track in the short term as well as long term,“ says Arora.
A large number of projects have got completed and many others are near completion along Dwarka Expressway. So, those of you who are still making up their minds as to which area to buy the house in, Dwarka Extension or Dwarka Expressway is one of the best places to consider in the region.