Dwarka Expressway- A dream Gone Awry
A part of the Master Plan 2031, Dwarka Expressway is an ambitious project linking Delhi and Gurgaon. Covering the belt from Dwarka RTR Crossing to Kherki-Dhaula Village, it is going to be an 18 km long high-speed 8-lane corridor and would greatly help in reducing the commute time between Delhi and Gurgaon. When the plan for Dwarka Expressway project was passed, industry experts saw it as the lifeline of NCR's future real estate development. By now, numerous projects are launched by renowned developers who are offering more than 33,000 units in attractive residential options.
But as most other projects in the country, this one also didn't proceed as expected. Moreover, Dwarka Expressway is plagued by land acquisition issues, causing a delay in the completion of the basic infrastructure. This is a major hindrance in the real estate development in this belt. In July 2011, the contract for the development of 14 km of Dwarka Expressway was given to Indiabulls Real Estate, of which 4 km was caught up in matters of litigation, and 2 km of that is resolved.
The issues related to the remaining 2 km stretch can be divided into three parts. A stretch of 700 meters was to facilitate connectivity to the much touted Reliance SEZ. However, it was cancelled, thereby leaving the entire 700 meters of the expressway undeveloped until now. Another stretch of 300 meters go through the village Kherki Dhaula, which is only now close to resolution. And the remaining 1000 meters stretch is also stuck due to the pending railway over bridge, the contract for which has been handed over to the Indian Railways.
Also, this last stretch of 2 km passes through Palam Vihar. For the construction of this stretch, 500 families are required to be displaced. HUDA launched a rehabilitation policy wherein these families will be allotted plots in sector 110A and 37C. Though the plan looks promising, there is no final decision made in this respect. Because of this, the construction along this 2 km area is still impending.
In spite of the slump in the realty market and the delay in constructions, the value of Dwarka Expressway property has appreciated by 100% in the last 4 years. Property prices along the belt of sector 109-113 and sec 103-106 are expected to show a steep rise. The commercial belt that is close to the locality along sec 106, 113, 112, 88 and 114 is also a major reason for the impetus to the residential real estate scenario in the area. Providing the shortest route to the Millenium City and the IGI Airport, Dwarka Expressway will be one of the most flourishing real estate belts of the NCR, once completed. Moreover, the second diplomatic enclave will also be developed near Dwarka Phase II.
However, the above-mentioned data are only optimistic expectations of the industry players. Even after the disputes are resolved, it will take at least two to four years for the Expressway to be fully functional. Also, the rehabilitation issue is causing a lot of trouble as the people involved are stubborn about acquiring a higher compensation. Not to mention, those who have invested in the upcoming projects in this area are worried as they are unclear on the status of the completion of the construction work and the following supportive infrastructure will be in place. To make things worse, it also seems that the width of the road will not be equal to the originally expected 150 m. All these factors have led to the real estate market in this area to go down, rather than flourish. And the people who have invested here are finding it hard to get closer to their dream homes.