The average prices of houses in residential projects near the Dwarka Expressway in Gurugram, adjacent to the capital Delhi, have increased by 83 percent in the last 10 years. It is believed that with the opening of the first section of this expressway, the prices may increase further. Real estate experts have made this estimate. Prime Minister Narendra Modi had inaugurated a 19-km stretch of the total 29-km Dwarka Expressway in early March. According to data compiled by real estate consultant Anarock, around 53,000 housing units were launched around the expressway between 2013 and 2023, of which more than 80 per cent of the units have already been sold, Bhasha reported.
Average prices Rs 8,300 per square foot
According to the news, the average prices of houses in the primary residential market of Dwarka Expressway is expected to increase from Rs 4,530 per sq ft in 2013 to Rs 8,300 per sq ft in 2023. Pradeep Aggarwal, chairman of realty firm Signature Global, expressed hope that demand-supply will remain strong on Dwarka Expressway, which will lead to an increase in prices. He said that there is an indication of 20-40 percent price increase in the next two-three years. Mohit Jain, managing director of realty firm Chrisumi Corporation, said property prices in the area have increased in the last few years.
Rates likely to increase by 10-15 percent in months
Vineet Dawar, senior vice president, Allen Group, said that there is a possibility of a price increase of about 10-15 percent. Dheeraj Dogra, vice-president and head of sales and marketing, MVN Infra, said the outlook for luxury homes remains positive. Sales are expected to increase by about 50 percent by the end of this year. Anarock Vice Chairman Santosh Kumar said that the average house prices in this area have increased by 41 percent between 2020 and 2023. Now with the opening of the expressway, it is likely to increase further.
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