Dwarka Expressway is coming up as the ultimate destination to invest for the property buyers. Consumers who are ready to buy a residential property in the locality will easily get back more than 60% of his investment just in the first two years.
Dwarka Expressway has always been a lucrative property option. Since the year 2009, this residential locality has been providing excellent avenues to the property seekers and in fact, the prospects has become higher and higher gradually. There is even more reason why more buyers will start showing interest in this locality. In the latest development, the government has decided to create a 42 m 2-lane Expressway, thereby moving away from the pre-decided 150 m Expressway. This move has been welcomed both by the buyers and by the builders.
In addition to this, the prime expectation in the current scenario is that buyers who are ready to invest in projects in Dwarka Expressway today are expected to get back make more than 60% returns in the next 2-3 years. The primary evidential support to the fact is that the current pace of infrastructural development in this belt is unimaginable. Head of Business, Residential in North and West zones of Mahindra Lifespaces, Mr. Ramesh Ranganathan has some optimistic view. According to him, “We have sold between Rs 2,200-4,375 per sq ft. Now it is retailing at about Rs 5,000 per sq ft. Early buyers got about 250% returns and the last set of buyers too have got about 25-30% returns.”
He cited one residential area in this locality – Sector 110 as a burning example to the fact. In 2009, Mahindra Lifespaces took a very favourable decision by considering Sector 110 to develop it as a prime residential hub. Being very close to Palam Vihar, the site already had social infrastructure in place. Mahindra Lifespaces targeted the nearby Palam Vihar residence as the main consumers and found that they were readily interested in gaining flats with all the facilities, such as clubhouses as available with gated communities.
Mahindra Lifespaces sold at the flats at an inaugural price of Rs 2,275 per sq ft in the beginning, which in the current scenario has risen to more than Rs 5,000 per square feet. Ranganathan says, “We have sold between Rs 2,200-4,375 per sq ft. Now it is retailing at about Rs 5,000 per sq ft. Early buyers got about 250% returns and the last set of buyers too have got about 25-30% returns.”
Comparative analysis with the nearby Gurgaon also reveals that Dwarka Expressway is at a much commanding place. The first aspect is that it comes under Delhi and the prices are also much cheaper than Gurgaon. Consumers are easily paying a retail price between Rs 9,000 and 10,000 per sq ft, while the same facilities and benefits can be availed at just Rs 5,000-6,000 in Dwarka Expressway. Hence, buyers are already in a profitable proposition and in the future, they will also reap great value for money out of their investments.