Dwarka NH Status to Push Projects Located Alongside Dwarka Expressway
Residential projects located in Gurgaon alongside Dwarka Expressway had “Work in Progress” signboard for around 6 years. There are certain land acquisition issues in Delhi and Gurgaon which led this 18-km stretch to delay completion. The projects located along the expressway are in different stages of development. Some of them are getting finished, some are almost done, and others are still waiting to add additional floors. Nitin Gadkari, Union Transport Minister, has announced to accord Dwarka’s National Highway status at Happening Haryana summit. It will be the hope for thousands of property seekers who invested here and looking for possession of such homes. Manohar Lal Khattar, Chief Minister of Haryana, declared the final deadline as June 2017.
Now the question is how a national highway status will benefit Dwarka Expressway. According to the experts, the finalization of expressway project will be boosted because it will be controlled by NHAI (National Highways Authority of India). After the transfer, as per the Highways Act, Dwarka Expressway is all set to fall under highway administrator by NHAI. In Gurgaon and Delhi, land acquisition will soon become faster once National Highways Act Section 3(d) is issued. The disputes related to compensation will be fixed soon once the road is developed by NHAI.
Another important question which should be answered is whether noise is made on allowing NH status to the stretch of 150 meters will find any impact on real estate prices. According to Executive Director and Founder, Prashant Kaura, GenReal Property Advisers Private Limited, the market is depressed now. Once the highway is completed in Haryana and patches are made after land acquisition disputes, we may see some sort of activities in the real estate market. As of now, some sort of sales is happening and settled at around Rs. 6000 per Sq. ft.
NH Status will benefit some of the projects located along Palam Vihar and Khirki Duala areas which cover sectors 104, 102, 90, 89, 88 etc. Several developers seem to match their schedule of delivery and completion of projects with the deadline of highway completion. The projects in Delhi may take longer time.
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