Dwarka Expressway, Mumbai’s Powai among realty hotspots: Report
The Dwarka Expressway in the National Capital Region (NCR) and Powai area in Mumbai are among the major growing real estate markets in the country, a report said on Monday.
“Dwarka Expressway continues to be one of the major residential destinations in the Delhi-NCR. Located between the crossroads of Delhi and Gurgaon, DXP is a major Real Estate catchment in the region,” said the report by 360 Realtors.
Besides, a residential hub, the region is also evolving into a major commercial catchment as IT hubs are being deployed across sectors -- 89,113 and 114, the report noted.
The report further said that in the last 12 months, average property prices have eased out to the tune of 2.5%.
Average prices have been stable in the past quarter. “DXP has a range of properties ranging from Rs 5,000 per square feet to Rs 9,000 per square feet. As there are properties that are in the affordable range as well, prices have eased out.”
On Powai, the report said that it has come a long way in the last two decades to emerge as a residential hotbed.
“Powai first shot into prominence when Indian Institute of Technology (IIT- Powai) was established in the 1960s. However, it took another three decades before massive construction activities started in Powai,” it said.
The report observed that Powai enjoys smooth connectivity with other parts of Mumbai through an extensive road and railway network. It is accessible through the Eastern Express Highway, Saki-Vihar Road and Jogeshwari-Vikhroli Link Road, among others.
Besides, the report lists Hinjewadi, Wakad and Manjari areas of Pune, Kanakapura Road, Hosur Road and Whitefield areas of Bengaluru, Gachibowli and HITEC City of Hyderabad as major real estate destinations.