With a population that is multiplying year on year and an infrastructure that is struggling to support it, decongesting traffic in the National Capital Region (NCR) has become the topmost concern of the state as well as central government. One of the ambitious steps taken in this direction is the Delhi-Meerut Expressway which would reduce the travel time between the two cities to 45 minutes.
The 90 km long expressway will connect the two cities via Dasna in Ghaziabad. It is being developed in three stages- first, from Delhi to Dasna; second, from Dasna to Hapur and the third will be a 37 km long green alignment. The National Highway Authority of India (NHAI) proposed the construction of four stretches and a six lane connector. The proposal had already been approved by the center and now it has also received a nod from the cabinet regarding its environment clearance.
Delhi-Meerut Expressway is going to benefit NCR’s realty market in several ways:
Widening of NH-24
NH-24 has already emerged as an affordable location in Delhi/NCR; it offers 1-2 BHK apartments that cater to the mid-segment buyers. Now with the widening of the highway, as a part of the Delhi-Meerut plan, will further enhance the scenario. NH-24 is a real estate hub because there are several small cities on both sides of it. And since it provides direct access to Delhi, Noida and Ghaziabad, the stretches connecting to other cities like Hapur, Meerut and Dasna will flourish with real estate projects. These are going to be very busy stretches. While it is too early to predict the pricing behaviour of the projects, the prices of existing ones have already surged. Affordable projects will mushroom along this growth corridor.
Markets that will Benefit
Since NH-24 is the starting point of this ambitious development, Ghaziabad, Noida, Indirapuram and Noida Extension will be the major benefitters. Other already populated areas like Raj Nagar Extension, Greater Noida West, Kaushambi, Siddharth Vihar and Crossings Republik will also eat a piece of this cake. As the main idea behind it is to decongest NCR, the areas around the Ghaziabad-Indirapuram stretch will be at advantage.
Hub of Affordable Housing
NH-24 is already known for the affordable nature of its real estate. However, the investors are averse about putting their money in the market because of the unsure state of appreciation. For end-users, lack of proper connectivity came out to the major determinant. With Delhi-Meerut Expressway in the pipeline, both these issues have been resolved. Though projects along the stretch will continue to be affordable for quite some time, the appreciation prospects are higher. Decongested traffic will make lives easier along the highway. It is starting to come out as a desired location for end-consumers as well as the investors.
The cabinet gave a green nod to the Dasna-Meerut six lane connector which will be constructed at a cost of Rs 1,658 crores. The congestion-free expressways will not only promote real estate but also commercialization and urbanization of the location.
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