NH-24 widening work on full swing will boost property rate in 2018

As per the Delhi high court order, there is a go ahead to NHAI for the widening of NH-24 and this is also good news for the real estate businessmen because the property rates will boost.

There is a go ahead by the Delhi high court as far as the widening of Delhi-UP border to Dasna stretch of NH-24 is concerned. This is actually a highly congested section of highway and there is expansion of the portion to 14 lanes. There has been a process of approval initiated by the NHAI board leading to an immediate work on the 19.3 km stretch. The best bidder was already selected in this regard. The completion of this project will lead to a boost in the prices of property in Ghaziabad and the adjoining areas of the capital city of Delhi.

• As per the media reports, one of the bidders for this project of 1600 crores was disqualified by NHAI and it was during the process of technical bidding, this bidder faced rejection from the governing body. The work was on delay because of this because the bidder had challenged this in Delhi high court. Because of this there was a halt on work in this particular stretch.
• As per the NHAI officials, there is availability of land with them for widening this stretch and the tree cuttings have also been done. All this development is seen as a boost in prices when it comes to the Ghaziabad real estate 2018. The buyers who have earlier purchased properties in Ghaziabad and in other parts of Delhi-NCR are in an advantage.

Public private partnership

This project of widening of NH-24 is to be done under the public private partnership and the selected bidder will be given time of six months as far as the tie up of finances for this particular stretch is concerned. By this, the properties in NH-24 and around it will soar high financially.

December 2018 is the deadline

The PM of India has put December 2018 as the deadline to complete the project and because of this, the authorities are under pressure to get it done. All this has gone in favour of the rate boost of the flats in Ghaziabad and all other commercial and residential properties in the adjoining regions. It is a sign of benefit for buyer and seller.