In the past couple of years, Dwarka’s realty market has certainly undergone a paradigm shift. Dwarka is witnessing a new trend in lifestyle living with high-rise apartments and planned townships coming up in the region. Besides residential flats and apartments, the concept of integrated township is also ushering in Dwarka with many prominent players busy developing exclusive projects
here.
In the last two years, the rate of residential property in Dwarka has doubled. One cannot find a good residential property in less than Rs 70 lakh now. And what came as a blessing in Dwarka is Metro, which has emerged as a matter of major convenience for the residents here. Before that, it was difficult for the residents to commute to far fled areas like CP and North Delhi.
Dwarka has a total of 29 sectors, of which, 23 are functional. And because of the Metro and underpass, occupancy rate in the city has reached to 40% as against 20%. It can also go up to 70-80% if the CBI clears all the colonies. There are many people who are highly interested in buying a residential property in Dwarka.
Within a few years, ISBT will also come up in Sector 23, Dwarka. Besides being closely connected to the airport, it enjoys added advantages such as well planned areas, wide roads, big marketplace, and a better connectivity to many important places in the Capital City.
The most notable development in the city is a ten-acre fashion hub, which is going to come up in the city among various others. Also, with the individuals having hunger for entertainment, in the coming future it is certainly going to become one of the most happening places in Dwarka, says Ms Leena Singh, Ashima-Leena Designers.
On the whole, Dwarka definitely has a bright future as the government has planned its Phase II in terms of relocating some prime usage there.
As there is an unavailability of land in the rest of Delhi, Dwarka has become an obvious choice for real estate investment in the region. Sector no. 23 is almost developed and Sector 24, 25 and 26 are under development, amongst the 29 sectors of Dwarka.
On the other hand, the coming up of 32-lane Expressway has remarkably linked Dwarka with Delhi, and the property values here have a positive impact of the development.
Co-operative Housing in Dwarka
In Dwarka, Co-operative Group Housing Society (CGHS) forms a major component of housing type. More than 350 CGHS have received the allotment of land out of which 75 per cent has been completed and another 25 per cent are in an advanced stage of completion. Amongst CGHS, over 70 per cent comprises 3BHK apartments and above while the others are studio apartments and 2BHK apartments, which are very less in number.
There are around 326 CGHS that are currently operational and on an average 100 people stay in a society. If compared to other big colonies such as Rohini, Dwarka’s flats are much more expensive. A normal and simple flat in Rohini costs around Rs 35 lakh while the same in Dwarka costs Rs 55 lakh.
As per a MD of Khushi Properties, Mr.Mukesh Singh , “Three-four years back, people who had invested in Dwarka would sell off a 2BHK apartment to get a 3BHK apartment in older colonies of West Delhi such as Janakpuri and Vikaspuri.”
Real estate trends in Dwarka
To buy an apartment in Dwarka, people are selling off their apartment(s) in the neighbouring societies as people wish to stay in an area with newer construction, better and social infrastructure.
DDA flats in Dwarka: The Delhi Development Authority (DDA) has developed 40,000 residential units under self financing, mega housing, HIG, MIG and incremental housing schemes. The authority has given special consideration to the economically weaker sections (EWS) of society. It has planned a number of EWS, LIG and Resettlement Housing Schemes in the area. There are close to 20,000 DDA flats in Dwarka of which 8,000-10,000 are occupied. Among DDA flats, more than 70 per cent are ready and are waiting for allotment.
With such promising projects in the pipeline, Dwarka real estate is definitely a potential investment market. So invest now and be a part of this promising real estate investment destination.
Bharat writes on behalf of Khushi Properties & Developers Pvt Ltd, Dwarka, which is an organisation dedicated to meet every aspect of the consumers needs in the real estate industry.It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At Khushi Properties you can get your solutions for real estate related issues.
Address:
Khushi Properties & Developers Pvt Ltd
301, Plot No. 9, Vikas Surya Galaxy
Sector-4, Dwarka, New Delhi-110075
Contact Number: 011-25075555
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