Does the slow traffic on NH 24 aggravate your already frenzied morning mood? There is a reason for you to cheer now. The widening of the Delhi-UP link road, that is, the stretch from UP gate to Dasna has been approved by the authorities after four years of its conceptualization. Not only will it impact the traffic situation on the road, but it will also prove to be a boon to the real estate market in the surrounding areas such as Noida and Ghaziabad.
As an initial part of the project, the road from Akshardham to the UP Gate has already been widened to eight lanes. However, as one enters Ghaziabad, the road becomes narrow and is visibly insufficient to contain the traffic and sustain speed. The widening of the complete highway will result in a smoother run to Ghaziabad in future. A few under-passes too, are planned along the stretch to maintain the flow of traffic. The highway is majorly used by people travelling to Ghaziabad in areas such as Vaishali, Kaushambhi, Vasundhara, Indirapuram, Crossings Republik and Eletronic City in Noida.
Owing to this, realty markets of both Noida and Ghaziabad are expected to be impacted positively. Sanjay Saxena of Aditya Associates says, “The demand and prices of residential properties are anticipated to double with the widening of the road. The effect will be seen on all the adjoining localities such as Indirapuram, Vaishali, Vijay Nagar and Crossings Republik. Already there are about 25 to 30 new residential projects coming up on the stretch.”
Several township projects by developers such as Ansal API, South Asian Real Estate, Landcraft Builders and Wave Infratech can be found along the highway. Noida’s Electronic City too lies on the same stretch.
Manish Wadhwa of Omega Buildcon & Realtors says, “Along with Indirapuram and Lal Kuan, buyers would also be seen moving towards locations such as Govind Puram, Crossings Republik and Mahagun Puram once the construction on the road is completed. “ Along this stretch properties are available in a wide budget range. “For instance, adds Wadhwa, “while the property values in Indirapuram are higher at around Rs 6,000-7,000 per sq ft, Govind Puram offers lowest prices of around Rs 2,000 per sq ft.”
The stretch has residential, commercial and industrial developments happening at the same time. Thus, the broadening of the road is most probable to have its impact on the realty prices and demand in both Ghaziabad and Noida. Now, it’s worth watching how a broadened road will help in retaining the realty prospects of these areas.
Source 🙂 The Times Of India
primorealty 