In the real estate discussions in Gurgaon, Dwarka Expressway has become almost ubiquitous, losing meaning like "prime location". Before you proceed with the purchase of M3M Capital apart from that, let's ask a question which the buyer should be asking: What do you pay for at ₹24,000 per square foot? Is it the address or the project?

Usually it's both. So, what does it mean?

The expressway premium, explained

Dwarka Expressway is the most significant factor driving new-launch pricing in the region for the past few years, connecting Dwarka in Delhi to Gurgaon. However, the neighborhood near IGI Airport, along with its own growth in commercial facilities and improved connectivity with both the cities, have helped rates to rise steadily. That isn't a marketing gimmick, it's just the reality of a stretch of road when it has gone from "under construction" to "actually usable".

The problem: not all projects on the expressway are created equal. Value can vary significantly within a broad range of locations based on how far from the main highway, what sector you are in, and how close the closest metro or rapid transit point will be. Therefore, the use of "Dwarka Expressway" as a location tag is not as informative as it appears.

What M3M Capital offers

From the perspective of configuration spread, M3M Capital is located in this corridor that covers the following:

• ● 3 and 4 BHK apartments
• ● 270 sq yd villas
• ● Penthouses

A 4 BHK of 2500-3000 SqFT is priced at ₹24,000/SqFT, putting it around the ₹6-7.2 Cr mark (this is a rough estimate and the carpet area and pricing sheet will be required for maths to be done by the buyer). It is not a top of the line, but it is in the upper-mid section of the corridor.

What that price is actually buying you

At this rate, you're paying for three things – the reputation of M3M which has established a fairly credible track record of delivery timelines and amenity quality in Gurgaon; for the specific sector, which is close to the operational length of the expressway; and for any unit level differentials (facing, view, floor) the project offers.

None of that's a criticism on the project. Just because it's expensive is not the same as it's expensive compared to what.

Before signing up to any of the following, you should ask yourself the following questions:

• ● Construction stage and RERA-registered possession date – this is not a box to tick as new launches have been made on this corridor with erratic track record with regard to timelines.
• ● This can further bring up an additional charge of ₹24,000/SqFT, which is called Floor rise and PLC charges.
• ● Actual distance to nearest operational metro or expressway access point (preferably on a map rather than a brochure diagram)
• ● Similar resale prices in other comparable sectors to get an idea of whether the premium is remaining the same or if it's more of a launch phase figure

Our take

The M3M Capital is priced similar to a project that anticipates the Dwarka Expressway narrative to continue and has, to date, largely enriched the early investors in the corridor. It is up to you whether it's the correct ₹6-7 Cr choice or not, depending on the details of the units.

For the actual pricing sheet, floor plans and a straight comparison with other Dwarka Expressway launches like MAX 361 or Hero Homes, please contact us.

Call Ashiana Real Estate Consultants

S-120 (GF), Palam Vyapar Kendra, Palam Vihar, Gurgaon-122017, Haryana.

+91-98100 76991 | info@ashianaestates.com