Flats for Rs 3.5 cr: 340 homes sold out on Dwarka Expressway for Rs 825 cr

ATS Homekraft, a flagship realty company of ATS group, has sold around 340 luxury homes in the first phase of its new project on Dwarka Expressway, Gurugram for Rs 825 crore. The apartments are priced between Rs 2.5 and Rs 3.5 crore. 

Dwarka Expressway connects Gurugram in Haryana with Delhi’s Dwarka suburb and Indira Gandhi International Airport.

The company launched the premium residential project 'Sanctuary 105' along the Dwarka Expressway in Sector 105 earlier this month and has managed to sell all the 334 units launched in phase 1 of this housing project, which is spread over 13 acres. 

Extending over 29 kilometers, Dwarka Expressway is an 8-lane high-speed corridor and represents one of India’s most ambitious urban infrastructure initiatives. Its primary purpose is to alleviate congestion on NH-48 (Delhi-Gurgaon Expressway), providing commuters with an alternative route for their journeys between Delhi and Gurgaon.

Several major real estate developers have launched high-end projects along the Dwarka Expressway, marking it as the next big destination for luxury living. With names like Adani Realty, Tata Realty, Sobha, and Godrej Properties leading the charge, this stretch is becoming a focal point for young homebuyers looking for stylish and well-connected residences.

As per a recent PropEquity report, the average price of new projects along Dwarka Expressway touched a record high of Rs 17,357 psf in July 2024 as compared to July 2021, when it stood at Rs 8,630 psf with the growth rate remaining close to 101%. 

This demand rush is on account of the government’s thrust on improved connectivity among key hubs, all of which are increasing the appeal of the area for homebuyers, business houses, and investors alike.

Among the many micro markets in Gurugram, Dwarka Expressway has seen a rise of 30 percent in the average price of new launches between July 2023 and July 2024. This is despite supply increasing from 4,329 to 5,012 units during this period, and can be attributed at least in part to the inauguration of the expressway in March 2024.

Adani Realty has unveiled its  new project, Oyster Grande, in Sector 102-102A, promising a blend of elegance and modern amenities. Similarly, Tata Realty has launched Tata La Vida near Sector 113, offering a contemporary lifestyle just a stone's throw from the bustling city. Sobha's Sobha City in Sector 108 is ready for move-ins, providing a seamless transition for those eager to embrace luxury living.

ATS Homekraft received expressions of interest from more than 700 customers for the project. The sale bookings value of these 334 units is Rs 825 crore.

"There has been very little supply in the Rs 5-crore category. We have tried to address this gap," said Udaivir Anand, Managing Director of ATS Homekraft.

"The company will develop around 750 apartments in this project, which has a built up area of 23 lakh square feet and a saleable area of over 16 lakh square feet.

Each tower only has two apartments per floor. The company would also develop 1.3 lakh sq feet high-street retail space within this project. The construction work has started on this project.

" Dwarka Expressway is poised to revolutionize Sector 102, transitioning it from a largely underdeveloped region into a dynamic and well-linked residential and commercial center. By significantly enhancing access to major areas such as Delhi, Gurgaon, and IGI Airport, the expressway has invigorated the local real estate market, drawing interest from both prospective homeowners and investors. As development progresses, Sector 102 is anticipated to emerge as one of the most desirable locations in the NCR, promising substantial returns for investors and an exceptional living experience for residents," said Saurab Saharan, Group Managing Director, HCBS Developments.

According to property consulting firm Anarock's findings, the real estate market in Delhi-NCR has undergone significant transformation over the past five years, with Gurugram emerging as the focal point for both investors and end-users. Dwarka Expressway and Sohna Road are at the forefront of this real estate boom, with rapid development and infrastructural enhancements contributing to their appeal.

Dwarka Expressway had the eight-highest supply of homes between 2019 and June 2024 at 20,250 units, among top micro markets, showed Anarock data.  Despite this, higher demand has led to steeper price appreciation. The expressway ranked fourth in terms of price appreciation during the same period.

Even Signature Global capitalised on this trend. Their recent launch, DE LUXE-DXP, a premium housing project, sold out within days, achieving record pre-sales of Rs 3,600 crore.

About the ATS Homekraft Project

• Potential revenue of Rs 2,200 Cr

• Investment from the group in the project of INR 1,300 Cr

• 13.08 Acres

• 80% Green Area

• 750 apartments – total saleable area of 16.2 Lakh sq ft

• High Street mall within the society of 1.3 lakh sq ft

• Total built up area of the project is about 23 lakh sq ft

• 11 towers, only 2 sizes 3BHK of 1850 sq ft and 4BHK of 2800 sqft

• Divided into 2 phases – first one to have about 475 apartment

• Only 2 apartments per floor

• Density of only 70 units per acre

• Lowest overall FSI of 2.25 on Dwarka Expressway

• Ultra modern club house of about 50,000 sq ft of activity area, spread across 4 activity floors

• USPs includes – Dense Miyawaki forest,  swimming pool, all modern sports facilities, unique tree house, indoor badminton court

• Total launched inventory only 344 units – 204 of 3.5BHK and 140 of 4.5 BHK