Housing Prices Surges 5X in 14 years at Dwarka Expressway: PropEquity

New Delhi, May 23, 2025: The Dwarka Expressway, once a peripheral corridor on the map of Delhi-NCR, has rapidly transformed into one of the hottest real estate micro-markets in the country.

According to PropEquity, housing prices along this 29 km stretch have surged fivefold over the past 14 years, a testament to the corridor’s meteoric rise and the region’s shifting real estate dynamics.

Dwarka Expressway has showcased a whopping residential property price surge during mid-2024. This jump is not only a reflection of robust demand but also of the infrastructural promise that the expressway has delivered.

Due to increasing demand and growing land costs, typical house prices along Gurugram’s Dwarka Expressway have increased fivefold in only 14 years to nearly INR 18,000 per square foot. Between 2010 and 2024, 42,816 apartments were launched and 41,899 units were sold, according to PropEquity statistics.

The region has rapidly evolved into a dynamic ecosystem, offering unparalleled connectivity, world-class amenities and exceptional investment opportunities.

Dwarka Expressway is setting new benchmarks for luxury living in NCR. The emphasis on creating sustainable, integrated communities ensures that this region will continue to thrive as a top real estate destination.

“We have signed an agreement with Marriott International Inc. to bring Westin Residences to Gurugram. The Westin Residences Gurugram is poised to be the largest branded residences and the first standalone residential property under the Westin brand without an on-site hotel,” said Sudeep Bhatt, Director strategy, Whiteland Corporation.

“With the Westin Residences Gurugram, we will also bring the highest standards of wellness, personalised services and global amenities directly to our homeowners. This evolution will not just be about offering a stellar customer experience but also about offering an enhanced quality of life where residents will be able to enjoy the comforts and convenience of a resort-like environment in their own homes.”

PropEquity’s data shows a 101 per cent leap in just the last three years with prices climbing from INR 8,630 to INR 17,357 per sq ft between 2021 and 2024. The pace accelerated further in 2024 with a 30 per cent price increase in a year, signalling a demand-supply mismatch favouring sellers.

Rohit Kishore, CEO, Hero Realty, said, “The Dwarka Expressway has swiftly positioned itself as one of the most dynamic and promising micro-markets in the NCR. Strategically situated between Delhi and Gurugram, it provides better connectivity, strong infrastructure and well-planned urban development, making it a transformative opportunity for end-users and investors.”

Now that the 16-lane expressway is fully operational, “we’ve witnessed a noticeable shift in buyer sentiment. As an investment corridor, the Dwarka Expressway showcases rapid infrastructure growth and steady price appreciation”.

He added, With IGI Airport just 12 km away, Aerocity within 10 km and landmark developments like the India International Convention Centre, Diplomatic Enclave II and the upcoming metro extension nearby, this corridor is not just a place to invest; it’s become a sought-after real estate destination.”

The expressway’s inauguration in March 2024, connecting Delhi’s Dwarka with Gurugram’s Manesar, has been a game-changer. Improved connectivity to IGI Airport, the Gurugram commercial belt and central Delhi has made the corridor a magnet for end-users and investors.

The Haryana section alone, built at INR 4,100 crore, has unlocked vast swathes of land for residential and commercial development. Gurugram is seen as the epicentre of real estate development in Delhi-NCR. The city leads Delhi-NCR in price appreciation with a significant year-on-year surge along the Dwarka Expressway as of Q1 2025—the highest among the top eight cities.

The corridor, encompassing sectors 99 to 114, has seen over a thousand residential units launched since 2018, accounting for nearly a quarter of Gurugram’s total supply.

Harinder Dhillon, National Sales Head, 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.”

With major connectivity projects nearing completion and increasing interest from both developers and buyers, “the corridor is gaining momentum. It is set to play a significant role in driving the region’s real estate growth in the coming months”.

Along the expressway, the luxury and premium segment is driving the surge. This aligns with a broader trend across Gurugram, where luxury homes are increasingly favoured by affluent buyers seeking larger, amenity-rich residences.

The appetite for under-construction projects is also prominent with a larger chunk of sales seen in Dwarka Expressway. The expressway’s success is emblematic of a wider resurgence across Delhi-NCR. The region saw a rise in residential property prices with Gurugram and Noida leading the charge.

Despite soaring prices, unsold inventory has dropped sharply, indicating sustained demand and healthy market fundamentals.

“This growth is driven by the city’s strategic location and ongoing infrastructure developments, such as the Dwarka Expressway and Delhi-Mumbai Expressway. As a major corporate hub, Gurugram attracts professionals seeking premium living spaces,” said Adil Altaf, MD, Trinity. 

“The demand for luxury properties remains robust, fuelled by high-net-worth individuals and NRIs. With developers focusing on upscale projects, Gurugram has emerged as a leader in India’s luxury real estate sector, surpassing cities like Mumbai in ultra-luxury housing deals.”

The road ahead for Dwarka Expressway is filled with more opportunities in terms of demand and fresh launches. With the expressway fully operational, it anticipates continued launches of luxury, commercial and retail projects. The corridor is expected to remain a priority development zone with further price appreciation likely as infrastructure matures and lifestyle aspirations rise.

Dwarka Expressway is a notable case of how connectivity transforms value. The corridor is not just improving mobility but also improving lifestyles. In summary, the fivefold surge in Dwarka Expressway housing prices over 14 years is a vivid illustration of how infrastructure, location and evolving buyer preferences are reshaping the real estate landscape of Gurugram and the broader Delhi-NCR region.