A cluster of developing areas along Dwarka Expressway in Gurgaon – Sectors 88A, 99, and 99A in the main – have become attractive proposition for buyers after some of the large development firms entered the market here.
Located along the Dwarka Expressway, Sectors 88A, 99, and 99A have attracted a lot of attention from buyers, investors as well as the industry on account of their location, surrounding infrastructure, and connectivity.
Commenting on the advantages of the area, Nayan Raheja, ED of Raheja Developers, said: “Location of the region, availability of apartments at affordable prices, RERA-compliant offerings, and subsidies under the Pradhan Mantri Awas Yojana for the MIG segment makes the region unique.” The firm has spoken about healthy sales in its project, Raheja Vanya, in Sector 99A.
The sectors, put together, have projects by a number of national and regional development firms. Some of the well-known names include Raheja Developers Ltd, Godrej Properties, Prime Infradevelopers, Pareena Infrastructures, ATS Group, Assotech, Pivotal Infrastructure, Vatika Group, and Ashiana Landcraft Realty.
Most of these sectors have remained stable in rates. Sector 99A, which is relatively new, saw slight correction in average rates compared to others.
The relatively high-priced Sector 88A offers 1BHKs to 4BHKs in the size range of 700 sq ft to 3,000 sq ft. Compared to this, Sectors 99 and 99A offer 2BHKs to 4BHKs in the size range of 450 sq ft to 2,800 sq ft.
While Sector 88A remains the highest priced, Sectors 99 and 99A are priced lower, in average rates. Compared to these, the average rate along Dwarka Expressway has not seen much deviation from the previous year.
“The rates have remained largely stable on account of demand. Demand dropped in the past owing to ambiguity over RERA, but it has picked up again in recent past,” says Sumit Singh, a consultant who works in the region.
The plus point about these sectors is the surrounding basic social and physical infrastructure, which is well developed. Even neighbouring villages like Garhi Harsaru, Basai, and Gopalpur are well-developed. “All of them have sector roads leading to prominent locations,” Sumit Singh says.
WHAT LIES AHEAD?
Realtors in the area say that the rates here are going to be at current levels for some time on account of oversupply of units. With some price rationalization, the sectors along the Dwarka Expressway will continue to entice mid-segment buyers.
Anarock Property Consultants Pvt Ltd says in a report that there has been a small decline of 6% in unsold units, between the third quarter of 2016 and the third quarter of 2017, in the NCR.
With the completion of the expressway some time away, new buyers may have the opportunity for huge bargains. However, it is advisable to factor in the completion dateline of the project.