Widening of NH-24: The Highway to Affordable Housing

With the launching of the mega Rs 7,500 crore project by Prime Minister, the hurdle to widen Delhi-Meerut Expressway has been cleared in January 2016. Thanks to the cabinet for enhancing the realty fortunes of the areas in the vicinity of National highway 24 and 58. Being developed as part of the Delhi-Meerut Expressway project, NH-24 has won central as well as state governments’ nod for widening into a 8-lane road from 6-lane. This move will not only witness a significant de-congestion of the highway but also give a new meaning to the growth and expansion of Ghaziabad real market. Moreover, the national highway is set to bring more home buyers who are looking for affordable housing in all housing segments. Be it 1, 2, 3 or 4 bhk homes, leading real estate companies are ready to stun property buyers and investors with paying less and get more.

“This widening project will greatly help in decongesting Delhi, provide a smoother ride throughout the stretch and allow an unprecedented realty growth of NH 24 and its adjoining regions such as Noida, Greater Noida West and micro pockets of Ghaziabad such as Indirapuram, SiddharthVihar, Crossings Republik, Raj Nagar Extn. and others. There will now be a sudden rise in demand for residential property across this stretch in the upcoming few months,” said Deepak Kapoor, President CREDAI-Western U.P. & Director, GulshanHomz.

With Wave City and Landcraft’s Golf Links townships, the national highway not only offers affordable luxury housing option but also home price appreciation. “Real estate development along corridors has become a trend across India. Transport corridors like national highways and state highways across India have witnessed significant real estate development during the real estate boom. The government has also helped in boosting and promoting industrialization in these areas. Combination of production units, public utilities, logistics, environmental protection facilities, residential areas, social infrastructure, administrative services and industrial areas has been systematically planned along corridors,” says Manu Garg, the director of Landcraft.

Some of the areas in and around NH-24 are selling like hot cakes and bringing in fruitful results for both property investors and developers. “These infrastructure developments will see an increase in residential demand and witness appreciation of prices. This will be the most sought-after address in the near future. With Noida office sectors in the vicinity, these areas witnessed fast habitation and became the development of choice rather than a default development,” says Manoj Gaur, the managing director of Gaursons India Ltd.