438 km long national highway 24 has been a great landmark in the history of Delhi NCR real estate that gives a new meaning to real estate pillars: Delhi, Noida, and Ghaziabad. Previously known only for Indirapuram as a mid-segment housing hub, the NH-24 has a new realty identification that takes Ghaziabad real estate to new heights. Thanks to the availability of abundant land on both sides of the road that makes the corridor responsible for the up-going growth curve.
With the spate of new residential construction projects on both sides of the road, the corridor to future real estate development is being seen as a viable option for home buyers and real estate investors looking at affordable and low-mid segment housing options. From widening of the national highway and widening of Delhi-Meerut expressway that continues on the existing NH 24 up to Dasna, the national catches all eyes and emerges as a big competitor to its big brothers Noida and Gurgaon.
There are several factors that make the corridor a future point of real estate market. Better connectivity and shorter commuting time is simply one of them as the road boasts of new upcoming link roads. When it comes to talking about capital and rental values along the NH-24 stretch, real estate industry heavyweights have a different saying. “The development would ease the lives of people living on the Ghaziabad-Indirapuram stretch as this project is expected to decongest NH-24 that connects Delhi with Meerut. Ghaziabad has been in a growth mode for the past couple of years and has of late become a favourable investment destination. Considering the large population base in the city, infrastructural developments such as the extension of the Metro route to Ghaziabad and the construction of Delhi-Meerut Expressway project would increase the demand from investors as well as end consumers,” says Vineet Relia, Managing Director, SARE Homes.
The road is set to offer immediate benefits to micro-markets of Delhi NCR real estate as it is simply a real estate gateway for Ghaziabad and Noida. Launching of the most affordable homes in all categories gives more opportunities to millions of people who want to reside in the prime and green locations of Ghaziabad. “The stretch from Nizamuddin Bridge to Dasna is the most crucial line on NH 24. The launch of this project will relax the existing residents and commuters along with igniting demand for residential real estate across NH 24. Investors will now make a comeback in these regions which will help in clearing the piled up inventory in the market,” says VikasBhasin, MD, Saya Group.