Dwarka is becoming one of the top choices for property buyers and developers in Delhi, thanks to its strong infrastructure, excellent connectivity, and a range of essential amenities.
Factors Driving Dwarka’s Growth
Several key factors contribute to the growth of Dwarka’s real estate market:
- Proximity to Indira Gandhi International Airport: Being close to the airport makes Dwarka a convenient location for frequent travellers.
- Dwarka Expressway: The upcoming expressway will improve accessibility, making it easier to reach Dwarka.
- Well-Planned Urban Development: Dwarka features broad roads, ample green spaces, and modern amenities, making it an attractive place to live and work.
- Diplomatic Enclaves and Commercial Hubs: New developments are increasing the demand for both residential and commercial properties.
- Delhi Metro Extension: The metro extension has made Dwarka more accessible.
- Bharat Vandana Park Dwarka: A 200-acre park in Sector 20 will feature replicas of Indian monuments, sky bridges, and water canals.
- Yashobhoomi Convention Centre: This state-of-the-art convention centre will host international events, boosting the area’s appeal.
- Largest Golf course in Dwarka under construction: Largest Golf Course: The construction of the largest golf course in Dwarka is underway, adding to its recreational amenities.
- Diplomatic Enclave: A new diplomatic enclave is being developed, enhancing the region’s status and attracting international investments.
Several government initiatives have further enhanced Dwarka’s appeal. The Yashobhoomi Convention Centre, Bharat Vandana Park, the largest golf course, and the Diplomatic Enclave are significant developments boosting the area’s infrastructure. Additionally, the All India Football Federation headquarters and excellent metro connectivity contribute to Dwarka’s growing status as a prime location for living and business.
Rising Property Prices
According to ANAROCK Research, the average residential prices in Dwarka have increased by over 28% from 2019 to the first quarter of 2024. In Q1 2024, the average price was approximately Rs 21,100 per sq ft, up from Rs 18,650 per sq ft in 2019. Even in the last two years, from 2022 to 2024, prices have risen by 13%, reaching around Rs 9,850 per sq ft in 2022.
Commercial Real Estate Boom
Dwarka is also seeing significant growth in commercial real estate. This is driven by upcoming IT and ITES hubs in Sectors 23, 24, and 25, as well as the India International Convention and Expo Centre (IICC) in Sector 25. The IICC, with its large convention and exhibition space and metro connectivity, is set to become India’s largest convention centre.
Dwarka Infrastructure Projects
- Dwarka Expressway: This new 27-kilometre, eight-lane expressway connects Dwarka to NH-8 near Manesar in Haryana, reducing travel times to key hubs like Gurgaon and the airport.
- Urban Extension Road-II (UER-II): Spanning 75 kilometres, this road will cut travel time to the airport and connect Dwarka with other parts of Delhi and NCR.
- Bharat Vandana Park: A 200-acre park in Sector 20 will feature replicas of Indian monuments, sky bridges, water canals, an 18-hole golf course, and multiple sports complexes.
Investment Opportunities
Dwarka’s transformation has made it a top investment choice for both domestic and international investors, including Non-Resident Indians (NRIs). The Delhi Development Authority (DDA) has allocated Rs 7900 crore for Dwarka’s infrastructure, which includes 4,300 houses, community amenities, and enhanced horticulture and landscape plans.
The new diplomatic enclave in Sector 24, similar to Chanakyapuri, along with the proximity to IICC and UER-II, makes Dwarka especially attractive to NRIs. The area’s cosmopolitan appeal and world-class amenities offer high returns on investment, safety, and a promising future.
Dwarka’s rise as a real estate hotspot is a result of strategic planning and robust infrastructure. With ongoing and upcoming infrastructure projects, Dwarka offers a mix of residential and commercial properties catering to diverse investor needs. It stands out as a beacon of opportunity in India’s growing real estate market, attracting investors from around the world.