Dwarka e-way in Gurugram sees 5-fold jump in average housing prices in 14 years: PropEquity

New Delhi, May 20 (PTI) Dwarka Expressway in Gurugram has witnessed a five-fold jump in average housing prices in the past 14 years with rates soaring over Rs 18,000 per square feet on rising land cost and strong demand, according to PropEquity.

In a statement on Tuesday, real estate data analytic firm PropEquity said, "The weighted average price of new launches rose from Rs 3,753 per sq ft in 2010 to Rs 6,238 per sq ft in 2015 to Rs 9,434 per sq ft in 2020 to Rs 18,668 per sq ft in 2024." The data showed that 42,816 units have been launched in Dwarka Expressway between 2010-2024. The number of units sold during this period stood at 41,899 units.

Samir Jasuja, Founder and CEO, PropEquity, said, "Between 2025 and 2030, over 18,000 units are expected to be launched and over 15,500 units are expected to be absorbed in Dwarka expressway, reinforcing sustained future demand." Prime Minister Narendra Modi last year inaugurated the 19-km of Gurugram stretch on Dwarka Expressway.

"Infrastructure developments like Yashobhoomi Covention Centre and upcoming Dwarka Golf Course in Sector 24 have boosted real estate. The redevelopment of Bijwasan railway station, located at the intersection of Dwarka Expressway and UER II, is likely to improve regional connectivity," PropEquity said.

Commenting on the data, Pradeep Aggarwal, Founder & Chairman of Signature Global, said, "Dwarka Expressway has emerged as a key growth artery in the National Capital Region, catalyzing large-scale urban development and unlocking immense value across both residential and commercial real estate." Over the next five years, he expects a 40–60 per cent appreciation in property values, supported by sustained infrastructure push and a maturing ecosystem of retail, education, healthcare, and business hubs.

Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said, "The jump in property prices is a reflection of the development that has taken shape over the years in and around Dwarka Expressway." Harinder Dhillon, National Sales Head of realty firm BPTP, said, "In the NCR region, the Dwarka Expressway continues to emerge as a bright spot, driven by sustained infrastructure development and growing end-user demand." Sunil Sisodiya, Founder & Chairman of Neworld Developers, said the Dwarka Expressway stands as a compelling example of how infrastructure, even when long delayed, can catalyse real estate transformation once operational.

"What began as a speculative corridor has evolved into a high-demand residential destination, driven by a blend of improved connectivity, growing social infrastructure, and maturing buyer expectations," he said.

Gurugram-based property consulting firm InfraMantra Director & Co-Founder Garvit Tiwari said the Dwarka Expressway has emerged as the most sought-after micro-market in NCR with price growth nearly doubling in last five years.

Vijay Harsh Jha, founder and CEO of brokerage firm VS Realtors, said this micro-market has an appetite for more supply and the coming years could witnessed increased real estate activity. PTI MJH HVA