Dwarka sub-city is mainly an end-user driven market with the
whole infrastructure up and running. It is well-connected with Metro
Rail and airport, and a destination of choice for home buying.
We
have seen a trend wherein, existing residents of Dwarka sub-city look
for better and bigger apartments within the Dwarka sub-city itself.
These are primarily the ones who are residents of the earliest launched
societies in the area and are now looking towards societies with better
maintenance and construction quality. In a way they are looking for
upgrade. Those who are already residing in a 3BHK with twin car parking,
power back-up, etc and are looking towards 3BHK+servant’s room with
other things remaining the same.
We have seen good inventory
available in Sectors 21 and 22 and now Sector 19B being a hot spot. The
price range for the 1,500 sq ft, 3BHK apartment, with parking facility
and power back-up in Sector 7, is Rs 95 lakh to Rs 1.15 crore, depending
upon location of the society, infrastructure quality, internal
maintenance and many other factors.
Is it the right time to buy?
For Dwarka-Gurgaon Expressway, this is the best time for the first-time home buyers, as they will not only get the property
at discounted rates, but also may get further discount of 3-6 per cent,
in terms of freebies. The charges like PLC (Preferential Location
Charges) and club membership can be waived off, based on the level of
negotiation and the type of property.
For
Dwarka sub-city, we have seen the prices softening for the past six
months, and there is no reason for delaying the decision now.
Is it the time to invest?
For Investors, Dwarka-Gurgaon Expressway still holds a lot of opportunities, provided one can spot the properties
under distress. We have been seeing the quantum of distress sales and
one can have a great bargain in these times, when short term real estate
investors are exiting.
It is not recommended to go for investment in the said stretch as far as the newly launched or already launched properties
are concerned as better options are already available. An investor
could rather consider other alternative such as Sohna in Gurgaon and
also Neemrana.
Neemrana provides the best point of price-entry
that many have missed at the Dwarka-Gurgaon Expressway. This is backed
by the whole infrastructural development that is coming up to support
it, with Japanese city coming into existence along with many other
international firms setting up their base.
Rajat Dhar, managing partner, Cogent Advisory
The views expressed in this article are the author´s own. This article was published on magicbricks.com and can be accessed here.
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