As the title suggests, this blog aims to understand the impact of the Delhi-Mumbai Expressway on the real estate market in the region surrounding it. There is no doubt that the Delhi-Mumbai Expressway project is a large and ambitious undertaking on the part of the government. It represents a huge step towards creating a better infrastructure in the country.
Approximately 70% of the construction of the Delhi-Mumbai Expressway has been completed, and work on the remaining portion is expected to be completed by December 2023. This information was provided by the Ministry of Roads and Transport.
By constructing this megaproject of Rs 98,000 crore, not only will the journey from Delhi to Mumbai become easier, but also will the real estate market in this entire region experience a surge in demand. With its 1350 km length, this expressway will link Delhi with Jawaharlal Nehru Port in Navi Mumbai.
In addition to facilitating real estate development, infrastructure and agriculture, this project is expected to stimulate schemes related to industrial manufacturing and agricultural production.
It is estimated that 50% of traffic going from Delhi to South will be diverted to this project after it begins. Construction of this expressway has used 80 million tons of cement and 10 million tons of steel, making it one of the world’s largest roadway projects.
Several cities will benefit from investment in business parks, logistics parks, and townships due to the expressway.
As the Delhi-Mumbai Expressway develops, more housing, townships, warehouses, and commercial properties will be built, boosting the Indian real estate sector.
Gurugram, Alwar, Kota, Ratlam, Neemuch, Vadodara will all be connected by this huge expressway. Some areas have already seen an increase in demand for property.
Upon completion of this project, investment will accelerate in new cities’ real estate and townships. There has been an increase in commercial and manufacturing activity in these areas in recent months.
There will be about 10 lakh trees planted along the highways as part of this project. A solar-powered lighting system will be used on the expressway. Wildlife will also be separated from traffic at a separate intersection.
Investors and buyers of property should consider properties in the Delhi NCR area
If you intend to buy near the highway, it is a good idea to buy land or property close to the expressway’s entrances. Sohna’s Alipur neighbourhood along the Sohna-Gurgaon Corridor may be of interest to investors who have a 3-4 years time horizon.
There is also the opportunity to earn short-term profits on investments in the Neharpar area of Faridabad near the bypass.
For those who are looking for long-term investment, there are a number of properties being offered near the under-construction expressway in Haryana, which includes Sohna, Palwal, Manesar, and Nuh. NHAI, the national highways authority of India, has taken up the initiative and is studying the legal options for establishing a number of townships and commercial hubs along the highway.
It’s important to consider a few things before your hard-earned money is invested in the proposed community:
The upcoming greenfield township will take a few years to develop into a community that can call itself home. People should consider moving to the township when people start moving in, especially if they have good schools, hospitals, and decent connectivity to roads, trains, and airports.
It is wise to consider investing in property around the Delhi NCR expressway if you are considering investing in property in this area.
Would you like to know more about the opportunities available to you? You can contact Roodland India and get guided into what’s best for you!