Dwarka’s Fairytale Development Story

Any story on Delhi realty markets and you will most certainly come across accounts of the spectacular growth of Dwarka as a residential destination. Dwarka is one of south west Delhi’s foremost localities and possesses 29 sectors in all. 23 of these sectors have already been developed immaculately and several other infrastructural improvements are also in the pipeline. Dwarka is well connected to Gurgaon and this is one of the biggest reasons behind the spiraling demand for apartments for sale in Dwarka Delhi. The International Airport lies approximately 10 kilometres away from Dwarka while the Airport Express Line has revolutionised access to the airport through the Sector 21 metro station.

The locality is home to several major markets, including those in Sectors 10, 6 and 12. Sufficient parking spaces and wide roads are other plus points of this locality. This locality is also referred to as one of the biggest ever housing colonies across all of Asia and there are multiple available apartments for sale in Dwarka Delhi on the back of fast rising demand. Gurgaon is a corporate and commercial hub and is located only 10 minutes away from the locality. The National Highway 8 also runs near the project along with the Najafgarh Road, Outer Ring Road and Pankha Road. The Rewari railway line also lies near the locality.

Dwarka’s housing market has also grown due to easy access to several prominent areas in Delhi like West End, Vasant Kunj, Uttam Nagar, Vikas Puri, Vasant Vihar, Najafgarh, Janakpuri, Bijwasan, Delhi Cantonment and Palam Vihar. The locality is home to approximately 1718 residential complexes and enclaves and the population has crossed 1, 100, 000 here as per several reports and studies. The DDA has also allotted land for the development of several foreign embassies and missions in Dwarka. This will certainly boost overall development in the locality to a huge extent. The road, MRTS and metro networks have contributed to the rise in demand for residential units in Dwarka. The locality alone possesses 8 metro railway stations.

The area is well on its way towards becoming a big ticket finance and residential hub of Delhi. The property market consists of high end apartments, studio apartments, special housing projects for senior citizens and more. The DDA has also introduced several pioneering initiatives in this locality including cycle sharing projects and e-buses. The DDA is also looking at positioning Dwarka as a smart city. The Dwarka Expressway has also transformed the face of the area with more and more premium projects being constructed in that location. The Dwarka Sector 10 neighborhood is also being readied to host an upcoming finance hub like the one in Mumbai and this will definitely scale up residential and commercial demand alike in the locality over the next few years.

Gurgaon-Dwarka Expressway is being heralded as the next big residential hotspot by developers and several leading players are operating here, including Assotech, Tata Housing and Adani among others. With infrastructural developments and the initiatives undertaken by the DDA, Dwarka is well on its way towards becoming one of Delhi’s hottest residential cum commercial areas in the future.

Is It The Right Time For Home Buyers To Invest in Delhi?

Home buyers in NCR have much to rejoice about as prices have fallen to a good extent in the area. There are as many as 1.93 lakh apartments lying vacant across the NCR, which would take almost 3 years for builders to clear. Therefore, not only do home buyers have bargaining power over the price of the property but also sufficient choices to select their home from.


Research has recently showed that the sales of property in Delhi and NCR have dropped by 43 percent almost. This is one of the worst performances displayed by the area in the real estate market in the past decade. There are several reasons for fall in sales of housing property. The top few have been listed below:

1.      Slow economic growth

2.      High inflation

3.      High rates of interest

4.      High property rates

Because of the slowdown in the property market, developers have been forced to slash their prices. Flats for sale in Delhi neighbourhoods such as Mayur Vihar and Dwarka are available for Rs 55 lakhs or so in resale. These flats are of 2BHK configuration. For a new apartment of this configuration, one would have to spend Rs 65 lakhs almost.

It seems the price correction was much needed as property prices had skyrocketed in Delhi in the past couple of years. Delhi was the most expensive city for purchasing real estate in India even a few years ago. Now, even in prime neighbourhoods like Panchsheel Park, South Extension and Vasant Kunj, where mostly resale flats are available, prices have staggered considerably.

Apart from the correction in prices of property, there are a couple of other reasons why investors and home seekers should consider properties in Delhi.

1.      Downside risk of pricing in metros and Tier II and III cities have lowered to a good extent. This has happened after the ascent of the new government in the Centre. From here onwards, it is predicted that property prices would increase by almost 8 to 10 percent. The sales volume for properties shall also recover in this period. Infrastructure and land development shall also spur a growth of demand for properties and their support prices.

2.      Lower interest rates: High borrowing rates was one of the reasons why home seekers averted property purchase. However, the RBI has already initiated several cuts in repo rates to encourage more people to take loans. Also, the government has increased the exemption limit on home loan interest payable to Rs 2 lakhs from Rs 1.5 lakhs for self-occupied property. This will help consumers save tax on flats for sale in Delhi.

3.      Growth of the Economy- The government has adopted several initiatives such as Make in India and easier land acquisition for industries to revive production in the country. This would lead to an increase in employment and hike in salaries as well. With an increasing purchasing power, more people would be able to purchase properties. The finance minister has commented that they look forward to a sustained rate of growth at 7 to 8 percent over the next 3 to 4 years. This has given much hope to investors in the real estate market.