NCR i.e. the National Capital Region is a prominent region to live, work and experience modern-day lifestyle. Over the years this area has witnessed expansion and development on both urban infrastructure and social infrastructure have been the focus for all the Governments.
Formulation of NCR Region
The NCR region and its board were formulated under the National Capital Region Planning Board Act 1985. According to this act, NCR is equal to the NCT of Delhi and the boundary of the National Capital Region in 1985 covered an area of 34,144 Kms.
In 1997, Gautam Budh Nagar district was formed and this was the third NCR city of Uttar Pradesh after earlier induction of Ghaziabad and Bulandshahr. After this, Bhagpat district was also formed and this was derived from Baghpat tehsil of Meerut district.
The next expansion of NCR witnessed the inclusion of three more districts namely Bhiwani and Mahendragarh in Haryana and Bharatpur in Rajasthan. This pushed NCR boundary by 34 percent i.e. 45,887 kms. With the inclusion of few more cities the National Capital Region today is spread over more than 50,000 kms area.
Prior to the formulation of NCR region, this area was described as the Delhi Metropolitan Area in the Delhi Master Plan 1962.
NCR Region and Investments
A total of 24 cities across three states including Uttar Pradesh, Haryana and Rajasthan are part of this region. Today, the multinational companies look to invest mainly in the NCR region and thus the migration of professionals to these cities demand quality housing units and this has boosted the property market of NCR. So, the rise in job opportunities led to the development of land parcels into townships and the setting up of these projects open getaways to the small business and shops.
The industry experts feel that a city needs to gain momentum to develop like the Noida and Greater Noida areas have received as this will bring in more and more investors. In the present scenario, the professionals are earning good and thus they don’t mind to pay a handsome rental amount or a unit value however, the accommodation should match upto their living standard.
The development in infrastructure, security, educational and healthcare sector makes NCR region a paradise for investors.
World-Class and Futuristic Living
The NCR region holds value for the homebuyers in many contexts and the most important reason is the lifestyle offered by this area. The high-rise residential towers, availability of reputed educational establishments and the smooth connectivity to reach the destination without getting stuck in congestion has made the National Capital Region the first choice for homebuyers.
People today prefer a world-class living atmosphere so that their kids can learn and turn into successful professionals. In fact, today sports have taken over academics and thus the upcoming sports academies and dedicated sports areas inside the premises of residential projects make NCR heaven for homebuyers.
Growth opportunities and Increasing Urbanization
The continuous coming in of investors in the National Capital Region [NCR] played a pivotal role in the expansion of this area. Thus, the Government took notice of developing facilities like airports and other facilities.
The investors have calculated the Return on Investment as soon as the proposal to develop Jewar International airport at an estimated cost of Rs. 19,000 crores was laid. The development of Special Economic Zones [SEZs] has open doors to excel in both professional and personal life pave way for a bright future of the NCR region.
Connectivity NCR Region
Dwarka Expressway is a 26.7kms long stretch that is currently under-construction and will connect Delhi with Gurgaon the NCR city of Haryana. This expressway is proposed to start from Shiv Murti in Mahipalpur in Delhi and will go upto Kherki Daula Toll Plaza in Gurugram in Haryana.
Similarly, the Delhi-Meerut expressway will cut down the travel time between the national capital city and the NCR city of Uttar Pradesh. This expressway was earlier known as NH 24 and now this 96kms long stretch will have 14 lanes which will resolve the issue of vehicular congestion that has been reported from a long time.
All this makes the National Capital Region a perfect place to reside for the homebuyers and a smart place to put in money for the investors.