Connectivity awaited

Though construction of Dwarka-Gurgaon Expressway has stalled,brokers are optimistic prices will appreciate here

For those of you looking for a way out from the drudgery of a long commute to either Gurgaon,south or even central Delhi,look to Dwarka as an option. One of Asias biggest sub-cities,Dwarkas location made it a popular choice around 10 years ago for those looking for affordable housing. At that time,a 3-BHK flat on Road 201 the main road one hits just after the Dwarka flyover in most societies would cost in the range of Rs 22 lakh to Rs 35 lakh,according to local property broker Aditya Mathur. Prices of these apartments have now doubled,with the price of some flats now running into crores.

Dwarka lies close to the domestic and international airports. It is also close to the cantonment,which accounts for its popularity among retired defence officers. The cantonment railway station is also close by. Dwarka has the most number of metro stations for a single sub-area of Delhi NCR so far. Wide planned roads make for pleasant driving as well.

However,work on the Dwarka-Gurgaon link road has hit several roadblocks due to legal issues. The 25-kilometre-long stretch was to substantially cut down travel time between the two places. But interspersed construction and existence of agricultural land on the stretch has created hurdles for both the Delhi Development Authority and the Haryana Urban Development Authority. Both are now waiting for court clearances for work to resume. But the stretch can still be accessed and is a blessing for those needing to drive to Gurgaon.

Brokers have differing views on the future of properties on this stretch. With the construction of a hotel and a speciality hospital on Road 205,prices may increase in Sector 19. A 3-BHK apartment at Akshardham Apartments can be rented for Rs 20,000. The cost of the apartment at present is Rs 58 lakh,but may go up soon, says Mathur.

But Naresh Bajaj of Bajaj Realtors has a different take. Most of the land on the stretch is agricultural and comes under lal dora. While the Delhi government may have bought the land from villagers,there is not going to be any construction of DDA apartments in the near future,nor is the government going to auction the land for private construction to take place, he says.

As for the prospects of Sector 24,Bajaj says: Sector 24 is one sector in Dwarka that I feel has a bright future in terms of appreciation of property rates. Even Sectors 23,25 right up to 29 have good appreciation prospects. In Sector 24,a 2-BHK spread over 1,250 sq ft can be bought for Rs 38 lakh,a 3-BHK spread over 1,650 sq ft can be bought for Rs 55 lakh. As far as rental rates are concerned,most 3-BHKs in the area can be rented for Rs 15,000,which is a bargain, says Bajaj. But these sectors are not self-sufficient. One would have to travel to the more developed sectors closer to Road 201 to purchase even the most basic items.

The future may hold great rospects for sectors 20 and upwards in Dwarka,but that depends on whether some headway is made on the construction of the link road to Gurgaon,as well as development of amenities for residents. Bajaj adds that diplomatic enclaves may come up in these sectors,but with the Commonwealth Games taking up all the attention of the government,it may not happen anytime soon.