Dwarka will be the second diplomatic enclave in the Indian capital after Chanakyapuri.
At present the proposed land is a narrow 10-foot road on the outskirts of Dwarka in southwest Delhi, with marshy fields on either side. The need for a second diplomatic enclave arose after the Ministry of External Affairs (MEA) got several requests from a host of countries that were keen to have missions in a country that is touted as an emerging world power. More than 60 missions are in Chanakyapuri, in south Delhi, and there is hardly any land left for others. Embassies of at least 39 countries of Central Asia, South Asia and some smaller African and Latin American countries that operate from rented apartments in various parts of south Delhi will be allotted plots in the new area.
Looking at the place today, it is indeed hard to believe that in a few years swank embassy buildings will replace the paddy fields and diplomatic sedans take the place of the bullock carts that trundle through the rutted roads. Even basic infrastructure like roads, electricity, water and sewer lines are something unheard of by the residents of the villages nearby.
Three villages surround the 70-acre plot identified by the Delhi Development Authority (DDA) after it got a request from the urban development ministry for land where the diplomatic enclave could come up. Divided into three sectors 27, 28 and 29, the area comes under phase-2 of the Dwarka development plan. While phase-1 construction is almost complete and is largely inhabited, the land covered in the second phase is still owned by villagers.
DDA says the diplomatic enclave planning is in the final stage. "We are in the final stage of planning. We have acquired most of the land and the process is on to acquire the remaining land needed to construct the diplomatic enclave. As soon as we acquire the land we will start construction and that will take about three years to get completed," DDA spokesperson told.
Realising the boom in property prices once the diplomatic enclave takes shape, property dealers have already set up shop and are quoting sky rocketing prices. The villagers themselves aren't too happy with the deal offered by DDA. The DDA has acquired land at throwaway prices. DDA just paid Rs.25 lakh (Rs 2.5 million) for an acre of land. The villages that come under this plan are Bamnoli, Bhartal and Dhul Siras.
DDA will take charge of the land and will provide basic infrastructure such as road and electricity and will then hand it over to the ministry of external affairs. Dwarka, which is supposed to be the largest sub-city in Asia, will also have the largest convention and exhibition centre. Slated to come up in Sector 24 on a 35-acre area by year 2010, it would be on a scale comparable to the Suntec Convention Centre in Singapore and would be made up of three components - an International Convention and Exhibition Centre, hotels and commercial facilities.
Its proximity to the international airport, an expanding Metro network and other ambitious projects such as building India's largest convention centre were a few reasons why the government zeroed in on Dwarka to be the second diplomatic enclave.
Dwarka has become so popular because it has a lot going for it,according to the property and real estate agents.
There are a total of 29 sectors in Dwarka, out of which 23 are functional. Last year, occupancy was 20 per cent, but now because of the metro and the underpass, it has gone up this year to 40 per cent. If the CBI clears all the colonies, within a year it might further go up to 75-80 per cent. Many people are interested and waiting to get a place in Dwarka.
Within one and a half years, an ISBT will also start in Sector 23 of Dwarka. Well-planned townships, wide roads, big market places, close to the airport, and well connected to the rest of Delhi, because of the metro. In spite of sky-high prices, these are some of the reasons why so many Delhizens with deep pockets have opted to invest in Dwarka.
This, while the rest of Delhi remains cluttered with possibly no more land area available. A ten-acre fashion hub is set to come up at Dwarka. 'Dwarka becomes the best choice for tourists, 5 and 7 star hotels are also coming there. It's definitely going to become a happening place. There's so much land available there.
So what's in store for this township that was once considered back-of-beyond?
The future of Dwarka is good in the sense that the government has planned Phase II in terms of shifting some prime usage there.
Once the airport gets operational, that entire region of Delhi will become more prime than it was yesterday. So, if you are looking for some property, Dwarka is the place to head to but hurry, for plots are disappearing fast...!!!
Real estate developer DLF plans to build a Rs 6,000-crore international convention centre near New Delhi's Indira Gandhi International Airport. The centre will be located at one of the capital's fastest growing areas - Dwarka.
Delhi Development Authority (DDA) has already assigned the contract for designing, development and operation of the international convention centre to DLF. The complex will include 25 meeting rooms with total seating capacity of over 2,000 delegates and two 5,000 sq mt exhibition halls.
The main convention hall of the centre, proposed to be set up on a 20 lakh sq ft area valued at Rs 900 crore, will accommodate 12,000 delegates with telescopic seating arrangements. The hall would be capable of partitioning in multiple smaller halls. The hotel complex will have a minimum of 800 rooms. At least one five-star hotel in the complex is projected to have 300 rooms.
The proposed centre will also have a commercial complex with food and beverages facilities, shopping malls, multiplexes, offices and ancillary support units. A hotel complex, to be constructed in a 6.5 lakh sq ft area, would comprise 835 rooms of different categories. The facilities will accommodate premium boarding and lodging complex for international students and diplomats, indoor and outdoor sports facilities, and global art and craft village.
With all these developments happening in Dwarka the fact is that still the occupancy rate remainsg at a disnal 40 % . Then why the Prices of Husing Socities in Dwarka are higher than Rohini which is much more populated as of now. Can somebody please advise whether the prices of 3BHK flats in Dwraka would more rise or fall in coming months (because a lot of reports are there indicating fall in proces) as I need to take a decision when to buy . My main aim is not investment but to have a settlement but still if I buy now at such a high price & say after 6 momths the prices fall it would be bad for me . So, please advise when to go ahed with getting ahead to buy a flat - Now or some time later ?
Property Prices will down or not down in Dwarka City
During Q3, Q4 2008-2009, residential property values in Dwarka witnessed 8-20% drop, which was also the recession period. The market was inactive during the slowdown and there were hardly any transactions worth the mention.
Despite all the pain and concern, according to the dwarka's local website DwarkaCity.com things will change for the better and Dwarka as a property market will grow.
Second diplomatic enclave: DDA says ready to allot land
The capital's second diplomatic enclave, proposed by the Delhi Development Authority (DDA) in 2007, is now ready for allotment.
According to sources in the DDA, land development in the allocated area is nearly complete. The enclave only awaits further direction from the Ministry of External Affairs (MEA), which at present is in talks with foreign missions to gauge the quantum of allocation required for each country.
Only last month, senior officials from the DDA inspected the developed diplomatic area in Sector 24, Dwarka. "DDA officials were satisfied with the level of development in the new diplomatic area. Roads have all been laid, along with sewage lines. The enclave is ready for allocation," a senior DDA official said.
So far, the MEA has received around 50 applications from countries for land allotment. The requests range from space for embassies to cultural centres. While at least 60 diplomatic missions are housed in Chanakyapuri, embassies of at least 39 countries function out of rented apartments, primarily in South Delhi.
Sources said these 39 countries would get top priority in the Dwarka diplomatic area.
The DDA has earmarked around 222 hectares of land for the diplomatic area. Senior DDA officials said they were holding meetings with the MEA and the Ministry of Urban Development to determine the institutional requirement.
According to sources in the DDA, the rates for each allotment would be finalised after discussing the issue with the Urban Development (UD) Ministry.
"There are different rates for each allotment, depending on the type of institution. For example, zonal rates would differ from rates for charitable institutions. We are discussing this issue with the UD Ministry," a senior official said.
He said the MEA would soon communicate to the DDA the required allotment for each application in the new diplomatic area.