With unavailability of land in rest of Delhi, Dwarka has become an apparent choice for real estate investment in the region. Out of the total of 29 sectors in Dwarka, 23 are almost developed and Sector 24, 25 and 26 are under development. Nevertheless, the opening up of 32-lane Expressway has remarkably linked Dwarka with Delhi, and the property values here have an obvious impact of the development.

Co-operative Housing

Co-operative Group Housing Society (CGHS) forms a major component of housing type in Dwarka. Land to more than 350 CGHS has been allotted out of which 75 per cent has been completed and another 25 per cent are in an advanced stage of completion. Amongst CGHS, the majority (over 70 per cent) comprises 3BHK apartments and above (i.e. 4BHK, 3+1 servant room or a Study) while the remaining are studio apartments and 2BHK apartments, which are a few in number.

Currently around 326 CGHS are operational and on an average 100 people stay in a society. About 70 per cent of these are occupied. Compared to other colonies such as Rohini, Dwarka’s flats are more expensive. An average flat in Rohini costs Rs 35 lakh while that in Dwarka costs Rs 55 lakh.

According to property broker Jai Saini of Saini Estates, “Three-four years back, people who had invested in Dwarka would sell off a 2BHK apartment to get a 3BHK apartment in older colonies of West Delhi such as Janakpuri and Vikaspuri.”

Market trends

To buy even a 2BHK apartment in Delhi’s Dwarka, people are selling off their 3BHK apartment in the neighbouring colonies as people aspire to stay in an area with newer construction, better ambience and social infrastructure.

DDA flats: The Delhi Development Authority (DDA) has constructed 40,000 residential units under self financing, mega housing, HIG, MIG and incremental housing schemes. Special consideration has been given to the economically weaker sections (EWS) of society. A number of EWS, LIG and Resettlement Housing Schemes have been planned. There are about 20,000 DDA flats of which 8,000-10,000 are occupied. Among DDA flats 70 per cent are ready and are waiting for allotment.

“DDA flats in Dwarka are unrecognizable as stereotype DDA flats. In many sectors, they are built on the new pattern, are multi-storeyed with lifts, have coloured facades instead of the typical grey ones and have earthquake proof system. These residential properties defy the old low-quality ‘mass housing’ image of DDA flats.

These flats are more costly, with greater area size, than the ones in older colonies of Janakpuri and Vikaspuri which were built around 1960s,” said Vijaypal Singh, a property consultant.

By Ruby

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