Dwarka-Gurgaon link ex-pressway (Northern Pe-ripheral Road or NPR),which is under construc-

tion, has becomes the talk of thetown. The 150-metre-wide and18km-long expressway is likely tobe completed within 18 months, byOctober 2012. Indiabulls hasbagged the contract for this projectcosting Rs 43.32 crore.

The NPR has become an USP forover two dozen builders, who haveprojects lined up on the stretch.The shift to NPR is solely becauseit will provide faster access to theairport; it will connect close to the100m-wide road proposed in thenew master plan; it will reach Del-hi near Dwarka Phase II (whichwill house the proposed diplomaticenclave) and the current Metro cor-ridor, which will run parallel to theroad.

The expressway starts fromDwarka and crosses Bijwasan,New Palam Vihar, and KherkiDaula and finally joins NH-8. Theareas that are going to reap richdividends are Sectors 99-113 and

Sectors 83 and 84. There will be acommercial belt touching Sectors105, 106, 109, 110, 110A, 111, 112 and113 with Sectors 100 and 101 beingfor public utilities. And then Sec-tors 114 and 88 are fully commer-cial. Other residential sectors thatare a little far away from the ex-pressway but will benefit from itare 81-86, 89-93 and 95.

The developers in these sectorsare Emaar MGF (107, 102, 103, 99,

82, 84), Sobha Developers (Babupurand Bajghera), Puri Construction(Chauma), BPTP (99, 102, 104, 113and other sectors), Raheja (Pawla),Uppal Housing (99), Mahindra Life-spaces (110A) and Bestech (81, 82,92), Vatika (82, 83), Earth Infra-structures (112). SARE launchedGreen ParC Phase III of their Cres-cent ParC in sector 92.

Vikas Gupta, director of EarthInfrastructure, says: "Sectors nearthe expressway are expected to be-come posh areas as this road willmeet Diplomatic Enclave 2 inDwarka. We can say that this areawill become second to areas suchas Shantiniketan and Vasant Vi-har." The firm has recentlylaunched a residential project,Earth Copia, in Sector 112.

"This area will get a boost by theexpressway. Another good aspectfor this area can be a proposal bythe authorities to let developers dothe sector roads. Though nothinghas been finalized on this aspect, ifthis were to come about, then com-pletion of sector roads will not be aproblem here," says Vineet Relia,

the chief executive officer ofSARE India.

Navin M Raheja, the managingdirector of Raheja Group, says:"Sectors 81, 82, 85, 86, 90, 91, 92, 93and 95 are around 3km from thisexpressway and buyers investingin these areas will be able to avoidtraffic snarls at Gurgaon toll pointduring peak hours. For New Gur-gaon, the government is planningof allow developers build sectorroads."

"Government authorities inGurgaon should choose from otherbest practices and aim at providinginfrastructure at and around theNorthern Peripheral Road beforelarge-scale development takesplace. This includes sector roads,water and sewerage mains, electricsub-stations etc. The biggest riskfor any buyer in this area is poten-tial delay in construction of theNPR which would further delay de-velopment in this area," said VivekDahiya, founder and CEO of Gen-Real Property Advisers (P) Ltd.

Navin says that the appreciationof property prices will be good

near this area. A real estate analystsays: "Let us take the case ofMahindra Lifespaces which soldMahindra Aura last year at Rs2,275 per sq ft and now, when theylaunched Phase II of the project,the price was Rs 3,175 psf. This initself shows the kind of apprecia-tion the place has seen and also therise in price property will witnesshere. It is believed that after thecompletion of this expressway,prices might touch Rs 5,000 psfmark."

Vijay Gupta, the managing di-rector of Orris Infrastructure,says: "The proximity of these areasto Dwarka-Gurgaon link express-way will help the residents here by-pass the traffic at Gurgaon tollnear Delhi during peak hours. Weare coming up with projects onmore than 1,200 acres of the landbank located in these prime devel-oping sectors."

New Gurgaon boomingwith opportunities

V Square Development Compa-ny recently launched a commer-

cial project, 114 Avenue, strategi-cally located at a prime locationin Sector 114 (Dwarka-Gurgaonexpressway). Vivek Seth, themanaging director of the firm,says: "Gurgaon has become oneof the top destinations for resi-dential and commercial purposesowing to its world-class infra-structure and amenities, connec-tivity with neighboring statesand also because of the closeproximity to IGI airport. Metrorail connectivity to Delhi is a lifeline."

Rakesh Yadav, the managing di-rector of Antriksh Group, saysthat newly developing areas likethe Sectors 80 to 93 in Gurgaon arean ideal showcase of the develop-ment in the region as lots of con-struction works are taking placehere as it becomes a residentialand commercial hub.

These sectors are also attract-ing attention as they are connect-ed to major Industrial zones likeManesar, which houses leadingindustrial units like Honda,Maruti, etc.

expresslink 4pg.

Northern Peripheral Road, the 150-metre-wide and 18km-long expressway is likely to be completed by October 2012

A T i m e s o f I n d i a P r e s e n t a t i o n , D E L H I , AU G U S T 1 9 , 2 0 1 1 T I M E S P R O P E RT Y

� THE NPR HAS BECOME ANUSP FOR OVER TWO DOZENBUILDERS, WHO HAVEPROJECTS LINED UP ON THESTRETCH. THE SHIFT TO NPRIS BECAUSE IT WILL PROVIDEFASTER ACCESS TO THEINDIRA GANDHIINTERNATIONAL AIRPORT

[FAST FACT]

� THEEXPRESSWAY

STARTS FROMDWARKA AND

CROSSESBIJWASAN, NEW

PALAM VIHAR,AND KHERKIDAULA AND

FINALLY JOINSNH-8. THE

AREAS THATARE GOING TO

REAP RICHDIVIDENDS ARE

SECTORS 99-113AND SECTORS

83 AND 84

� THERE WILLBE A

COMMERCIALBELT TOUCHING

SECTORS 105,106, 109, 110,

110A, 111, 112AND 113 WITH

SECTORS 100AND 101 BEING

FOR PUBLICUTILITIES. AND

THEN, SECTORS114 AND 88 ARE

FULLYCOMMERCIAL

QUICKBITES

Dwarka has over 300 grouphousing societies. It is aplace of choice for manypeople who work in Gur-

gaon but choose to stay in Delhi.The average capital value of a stan-

dard three-bedroom apartment is Rs1-1.8 crore while its average rental isRs 17,000-22,000.

Giving a lowdown on the currentsale price of flats here, Saini, a broker,says that Vidyasagar apartment onthe main road in Sector 6 comes for Rs1.25 crore. It has an area of 1,350 sq ft,two bathrooms, three balconies plusone study. Surya apartment is a well-maintained society with a 3BHK go-ing for Rs 1.26 crore. Anant in Sector 4is a 3BHK plus study and comes for Rs1.30 crore; flats in United apartmentare available at a similar price point.The only fully airconditioned apart-ments are in Sunny Valley, in Sector11, where a 1,700 sq ft apartment costsup to Rs 1.8 crore.

The latest set of residential units iscoming with better flooring and fit-outs and is also bigger in size. Thesefour-bedroom apartments are valuedat Rs 1.5-2.5 crore. Sandeep Sharma, abroker, says that a 4BHK at Gold Croftsociety of 2,000 sq ft is available for Rs

2.4 crore. On the upside, the apart-ments in Dwarka are safe, gated, com-ing with the latest in constructiontechnology. All said and done, Dwarkais in Delhi and the development au-thority, the corporation, the roads areway better than those in the adjoiningsuburbs. Dwarka has good physicaland social infrastructure. The rents

are competitive here compared toelsewhere in Delhi and Gurgaon.

On the downside, in house pur-chase, the cash component is prettyhigh at the rate of 40-50% of the totaltransaction. The maintenance of thesocieties fades with time and the soci-eties look a tad older each year. Also,

these apartments are minus thelifestyle amenities offered by Gur-gaon apartments of private builders,which come with swimming pools,gymnasiums, and party places withinthe complex. The two-bedroom cate-gory is virtually non-existent here.

From an investor's point of view,the rental return is still a small per-centage of the overall capital value,approximately 2%. Typically, a three-bedroom flat fetches rental of Rs 18-25,000 per month while a two-bedroomflat can command Rs 11-15,000 amonth. As of now, financers are pick-ing up any property, which is up forsale in Dwarka. The modus operandiis like this. They pay a large upfrontamount to the seller and get a dis-count on the value of the property.This they then offload in the market ata prevalent market price and makegood their investment. So, in such ascenario, both the seller and the fin-ancier are OK. The seller gets upfrontmoney and does not have to scout forbuyers and the financier makes mon-ey in the difference between the dis-counted price and the market value.

Shortly, a first of its kind project isbeing launched in Dwarka. It is by adeveloper. Dwarka only has CGHS and

none of any builder projects, whichGurgaon can boast. Apparently, Uppalhad bought this plot from the DelhiMetro Rail Corporation (DMRC) andthe project is next to the existingDwarka Mor Metro station. The Up-pals 'Winter Hills' project has 2-, 3-and 4BHK Elite Condominiums(apartments) and the units comewith all modern facilities like a club,well-maintained green areas, 100%power backup, etc. The project is com-ing up on approximately 5.40 acres;each tower will have ground + 12storeys, with 50 apartments to a tower

and four units per floor. Constructionhas already started on the

site and the possessionis to be given in De-

cember 2013. The pre-launch price isRs 7,000 Rs per sq ft and the apart-ments cost anything between Rs 90lakh and Rs 1.7 crore.

No housing unit is available in Dwarka for less than Rs 1 crore but rentsremain competitive. NAMRATA KOHLI writes on the subcity which has

caught the attention of end users and investors alike

The Northern Peripheral Road or the Dwarka Gurgaon link expressway is due to be completed in 2012. Once this happens, development ofthe sectors around this road will accelerate — already, realty prices of several projects have appreciated in anticipation. A K TIWARY writes

Authorities inGurgaon should

choose from bestpractices & provideinfrastructure atand around theNorthern Peripher-al Road beforelarge-scale develop-ment takes place

All said and done,Dwarka is in Delhi

and the developmentauthority, the corpora-tion, the roads areway better than thosein the adjoining suburbs

� THE LATEST SET OF RESIDENTIAL UNITS IS COMING WITHBETTER FLOORING AND FIT-OUTS AND IS ALSO BIGGER IN SIZE.THESE FOUR-BEDROOM APARTMENTS ARE VALUED AT RS 1.5-2.5CRORE

� ON THE UPSIDE, THE APARTMENTS IN DWARKA ARE SAFE, GATED,COMING WITH THE LATEST IN CONSTRUCTION TECHNOLOGY. ALLSAID AND DONE, DWARKA IS IN DELHI AND THE DEVELOPMENTAUTHORITY, THE CORPORATION, THE ROADS ARE WAY BETTERTHAN THOSE IN THE ADJOINING SUBURB

QUICKBITES

DWARKA FLATSVERY DEAR

DWARKA-GURGAON

LINK EXPRESSWAY

Pics: Deepak Sharma