Dwarka: Future city : Times Of India Delhi; Date: Aug 8, 2009; Section: Times Property; Page: 92
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sunil sareen
Aug 8, 2009, 12:11:01 PM8/8/09
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FYI please
http://epaper.timesofindia.com/Repository/ml.asp?Ref=Q0FQLzIwMDkvMDgvMDgjQXIwOTEwMA==&Mode=HTML&Locale=english-skin-custom
Publication: Times Of India Delhi; Date: Aug 8, 2009; Section: Times
Property; Page: 92
Dwarka: Future city
Both property values and vacancies are high while transactions are low in
the residential realty of Dwarka, yet developers are not cutting down on
property values. Brix Research on the reasons
Dwarka is located in Southwest Delhi, near the international and domestic
airports of New Delhi. It is surrounded by NH-8, outer Ring Road, Najafgarh
Road, Pankha Road, and the Rewari railway line. Janakpuri residential area
and Delhi Cantonment are the other major landmarks, in the vicinity, while
Gurgaon is also close by.
The sub-city provides housing for nearly 2 lakh families. Besides DDA
flats,
Co-operative Group Housing Societies (CGHS) form a major component of
housing in Dwarka. A number of EWS (Economically Weaker Section), LIG (Low
Income Group) and re-settlement housing schemes have also been developed by
DDA in the city.
Sector 16B and 17A have a number of colleges; Sectors 5 and 12 house
some premium eating joints like Pizza Hut and Dominoes. The prime commercial
markets of Dwarka are in Sectors 4-6 and 10-12. The major markets in Dwarka
are found in Sectors 6, 10 and at the Ashirwad Chowk, which is the junction
of Sectors 4, 5, 11 and 12.
Value trends
During Q3, Q4 2008-2009, residential property values in Dwarka witnessed
8-20% drop, which was also the recession period. The market was inactive
during the slowdown and there were hardly any transactions worth the
mention.
Currently, apartments and builder floor capital values in Dwarka range
between Rs 5,000 and Rs 10,000 per sq ft and rental values are in the range
of Rs 10,000-18,000 per month.
Local brokers say owing to self-sufficiency of the sectors and
connectivity to Delhi and other NCR cities, property in Dwarka is considered
a good buy. The rental-housing segment in Dwarka is more active in
comparison to the capital segment. However, compared to other NCR towns,
Dwarka still lags behind. Many development projects are underway but their
impact can only be known once they are operational, real estate agents of
the city say.
Infrastructure
The sub-city is well connected through the Metro Rail and it is expected
it will be connected to Gurgaon in the near future. However, potable water
and the lack of proper public transport is a concern for residents, as well
as potential buyers. Security in Dwarka is another distress area. Although
every society has its own security, cases of snatching, and other mugging
incidents are very common here. Residents attribute these incidents of crime
to a lack of proper street lighting and insufficient police patrol in the
whole area.
Upcoming projects
Certain upcoming projects are expected to give Dwarka a complete
makeover. These projects include Delhi’s fifth and largest ISBT (Inter State
Bus Terminus) at Sector 23, India’s largest Exhibition and Convention Center
to be built by DLF in Sector 24, and several 5-and 7-star hotels have also
been planned across the sub-city. These are most likely to come up before
the Commonwealth Games to be held in 2010.
Conclusion
Despite all the pain and concern, local brokers and developers are
hopeful things will change for the better and Dwarka as a property market
will grow.
It is anticipated that once it is fully developed, Dwarka sub-city will
have one of the best accessibility options with the mother city. These will
include both rail and road accessibility.
Going by its Master Plan, Dwarka is the best urban city possible. It has
everything in its favour - proximity to the airport, a planned Metro Rail
link, railway station, an ISBT, a five-star hotel, diplomatic enclave,
district centres, universities, hospitals, sports complexes and schools.
A little care on the infrastructure front, and with the market price
corrections, Dwarka could be the city of the future.
http://epaper.timesofindia.com/Repository/ml.asp?Ref=Q0FQLzIwMDkvMDgvMDgjQXIwOTEwMA==&Mode=HTML&Locale=english-skin-custom
Publication: Times Of India Delhi; Date: Aug 8, 2009; Section: Times
Property; Page: 92
Dwarka: Future city
Both property values and vacancies are high while transactions are low in
the residential realty of Dwarka, yet developers are not cutting down on
property values. Brix Research on the reasons
Dwarka is located in Southwest Delhi, near the international and domestic
airports of New Delhi. It is surrounded by NH-8, outer Ring Road, Najafgarh
Road, Pankha Road, and the Rewari railway line. Janakpuri residential area
and Delhi Cantonment are the other major landmarks, in the vicinity, while
Gurgaon is also close by.
The sub-city provides housing for nearly 2 lakh families. Besides DDA
flats,
Co-operative Group Housing Societies (CGHS) form a major component of
housing in Dwarka. A number of EWS (Economically Weaker Section), LIG (Low
Income Group) and re-settlement housing schemes have also been developed by
DDA in the city.
Sector 16B and 17A have a number of colleges; Sectors 5 and 12 house
some premium eating joints like Pizza Hut and Dominoes. The prime commercial
markets of Dwarka are in Sectors 4-6 and 10-12. The major markets in Dwarka
are found in Sectors 6, 10 and at the Ashirwad Chowk, which is the junction
of Sectors 4, 5, 11 and 12.
Value trends
During Q3, Q4 2008-2009, residential property values in Dwarka witnessed
8-20% drop, which was also the recession period. The market was inactive
during the slowdown and there were hardly any transactions worth the
mention.
Currently, apartments and builder floor capital values in Dwarka range
between Rs 5,000 and Rs 10,000 per sq ft and rental values are in the range
of Rs 10,000-18,000 per month.
Local brokers say owing to self-sufficiency of the sectors and
connectivity to Delhi and other NCR cities, property in Dwarka is considered
a good buy. The rental-housing segment in Dwarka is more active in
comparison to the capital segment. However, compared to other NCR towns,
Dwarka still lags behind. Many development projects are underway but their
impact can only be known once they are operational, real estate agents of
the city say.
Infrastructure
The sub-city is well connected through the Metro Rail and it is expected
it will be connected to Gurgaon in the near future. However, potable water
and the lack of proper public transport is a concern for residents, as well
as potential buyers. Security in Dwarka is another distress area. Although
every society has its own security, cases of snatching, and other mugging
incidents are very common here. Residents attribute these incidents of crime
to a lack of proper street lighting and insufficient police patrol in the
whole area.
Upcoming projects
Certain upcoming projects are expected to give Dwarka a complete
makeover. These projects include Delhi’s fifth and largest ISBT (Inter State
Bus Terminus) at Sector 23, India’s largest Exhibition and Convention Center
to be built by DLF in Sector 24, and several 5-and 7-star hotels have also
been planned across the sub-city. These are most likely to come up before
the Commonwealth Games to be held in 2010.
Conclusion
Despite all the pain and concern, local brokers and developers are
hopeful things will change for the better and Dwarka as a property market
will grow.
It is anticipated that once it is fully developed, Dwarka sub-city will
have one of the best accessibility options with the mother city. These will
include both rail and road accessibility.
Going by its Master Plan, Dwarka is the best urban city possible. It has
everything in its favour - proximity to the airport, a planned Metro Rail
link, railway station, an ISBT, a five-star hotel, diplomatic enclave,
district centres, universities, hospitals, sports complexes and schools.
A little care on the infrastructure front, and with the market price
corrections, Dwarka could be the city of the future.
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