Travel time to IGI air­port to be re­duced

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are likely to be mixed-use ones that will in­clude re­tail and/or ho­tel com­po­nents. Over­all, the cor­po­rate real es­tate mar­ket in the NCR is likely to con­tinue to at­tract oc­cu­pier in­ter­est, es­pe­cially in the sub­ur­ban mar­kets of Gur­gaon and Noida, in the com­ing quar­ters

On the re­tail front, the NCR mar­ket con­tin­ues to be the pre­ferred gate­way for global brands com­ing to In­dia.

The au­thor is CMD CBRE South Asia Pvt Ltd Apart from bring­ing much re­lief to those in­vested in the area, com­ple­tion of the ex­press­way will ben­e­fit those com­mut­ing from Delhi to Gur­gaon as it will open up an al­ter­nate link, thus re­duc­ing con­ges­tion on NH-8. Also once the ex­press­way is op­er­a­tional, travel time from sec­tors closer to Delhi, such as 111 and 113, to the Metro sta­tions in Dwarka and IGI Air­port will be re­duced con­sid­er­ably.

Vivek Sing­hal, pres­i­dent, cor­po­rate strat­egy, M3M Group, says that Dwarka Ex­press­way of­fers great ad­van­tage to both Delhi and Gur­gaon as it has been planned to im­prove con­nec­tiv­ity and ease traf­fic along NH8.

Harikesh Anan­thamurthy, executive director, Ex­pe­rion, says Dwarka Ex­press­way en­joys prox­im­ity to the Cap­i­tal, in­ter­na­tional and do­mes­tic air­ports, up­com­ing Diplo­matic En­clave and the com­mer­cial hubs of Gur­gaon. “Our pre­mium pro­ject, The Heart­song (Sec­tor 108) and l ux­ury pro­ject Wind­chants (Sec­tor 112) are sched­uled for de­liv­ery in 2016 and 2017 and they of­fer prospects for sig­nif­i­cant up­side in val­ues,” he says.

San­jay Sharma, managing director, QuBREX, says as work starts in the com­ing months, trac­tion may pick up for branded projects in the area but other projects close to Delhi may see an up­side only when con­nec­tiv­ity to Delhi im­proves.

As for val­u­a­tions, Anckur Sri­vast­tava of GenReal Ad­vis­ers, says mar­ket sen­ti­ments are not pos­i­tive as of now with prices 15% to 20% below the developer quoted price. Trans­ac­tions and vol­umes will only pick up speed once work on the Dwarka Ex­press­way gets go­ing.

Yashesh Ya­dav of DXP Wel­fare As­so­ci­a­tion, a body of over 500 home­buy­ers who have bought into hous­ing projects along Dwarka Ex­press­way, says there are as many as one lakh buy­ers who have in­vested in the area. Ba­sic fa­cil­i­ties such as sewage, healthy drink­ing wa­ter are miss­ing over here. “The club has not been handed over even though we moved into the pro­ject al­most one-and-a-half years ago. We con­tinue to re­ceive treated wa­ter in the com­plex. Con­nec­tiv­ity to Delhi is al­most non-ex­is­tent,” he says. – Van­dana Ram­nani

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