Be it Dwarka Expressway, Noida Extension , Noida Expressway, Raj Nagar Extension, action in real estate is all concentrated in certain pockets of the Delhi NCRregion.
Sharad Jhingan, the chief operating officer (Pvt Equity Fund) at Lanco Infratech Limited, says: "In India, most of the development takes place around existing urban agglomerations, akin to clusters or pockets of projects. These projects may be promoted by different developers but are typically located in close proximity to each other with very little to differentiate. As a result , in normal times, developers chase customers and only in good times do we find the reverse trend, barring for some exceptionally good projects."
So where is the realty action concentrated at the moment? "The expressways and national highways is where all the property development is taking place," says Sushant Muttreja of Earth Infrastructure. The company recently launched two residential projects , one on the Dwarka Expressway and the other on the Yamuna Expressway . "People look for affordable housing and these can only be provided at these high-speed transport corridors that offer good connectivity and affordable options," Muttreja says.
People from different parts of India are continuously migrating into the Delhi NCR to study, explore new businesses , land a job, or for career advancement . Thus, the population here is increasing exponentially and there is a huge requirement for residential and commercial space, as well as social infrastructure, to cater to these burgeoning numbers.
No wonder then that the expressways and national highways are turning into hubs for realty action. These offer excellent connectivity by road and existing and proposed connectivity by the Metro network and the infrastructure being developed by the respective state governments and civic authorities here has given a boost to their realty profile.
Projects are mushrooming along the Noida-Greater Noida Expressway, the Yamuna Expressway, the KPMGexpressway, NH-24 , NH-58 , NH-8 , NH-1 , the Dwarka Expressway, Raj Nagar Extension at a rapid clip and finding favour with end users and investors alike.
Take a look at the Dwarka-Gurgaon Expressway, which is an 18km stretch of 150-metre-wide road, starting from Dwarka Phase 2 and joining NH-8 near Kherki-Dhaula . The average rate is approximately Rs 3,600 per sq feet and sizes here range from 1,200 to 3,000 sq ft. The main developers here include BPTP, Ramprastha, Indiabulls, Uppals, Raheja, Sobha, Chintels, Spire, etc. Apart from the connectivity through the expressway, this area is also close to the IGI Airport and is preferred by pilots and senior staff of most airlines.
A spokesperson of the Raheja group, which has a couple of projects on the Dwarka Expressway, says: "Given the strategic advantage which this location enjoys, it was an ideal location for a number of residential projects . The area is very close to the international airport, Dwarka as well as the new diplomatic enclave, which makes it an attractive location for buyers, considered from every possible angle."
Source:economictimes.indiatimes.com
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