LORD OF RINGS - Express development around Delhi
Work on the long-awaited Kundli-Ghaziabad-Palwal (KGP) Express way [also known as Eastern Peripheral Expressway] and Kundli-ManesarPalwal (KMP) Expressway [also known as Western Peripheral Expressway] has begun in right earnest after the central government set a deadline of 300 days for the completion of the project.
Once complete, these two expressways will form a ring around Delhi and increase connectivity and ease of travel to the surrounding areas of the national capital, opening up large areas for real estate development--in residential, commercial, and office space segments.
Also, with a cluster of 13 theme-cities planned along the length of the expressway circuit, employment opportunities in the NCR region will shoot up bringing in more opportunities for the realty sector.
Construction of the six-lane, 135km-long KMP Expressway is being done in two parts. The first part, a 53km-long segment from Palwal to Gurgaon, passing through five districts of Haryana--Sonipat, Jhajjar, Gurgaon, Mewat, and Palwal--is operational; work on the remaining portion, the 82km-long segment from Gurgaon to Kundli, is in full swing.
Work on KGP has also resumed at a feverish pace. The KGP route will form a semicircular girdle along the eastern side of Delhi, pass through the districts of Sonipat and Faridabad in Haryana, and Baghpat, Ghaziabad, and Gautam Budh Nagar in UP.
Both the peripheral expressways are touted as the country's first and smartest ring-highways with features like advanced, intelligent traffic system (ITS) with variable message display system (VMS), live signage to guide drivers about road conditions ahead, traffic jams, or accidents, etc.
Another major benefit from these two expressways is that they will not only decongest the traffic burden on Delhi roads, by nearly 60%, they would also result in lowering the pollution levels in the national capital drastically. The whole project is expected to improve infrastructure and boost economic activity in all the districts that they cross in Uttar Pradesh and Haryana.
Kamal Taneja, MD of TDI Infracorp, says: “Apart from decongesting vehicular traffic, the two expressways will also bring economic boom to regions like Kundli, Ghaziabad, and Palwal, as they will significantly improve the connectivity of these areas with Delhi. Kundli has been singled out by many IPC's and government bodies as the next base for logistics and warehousing owing to its connectivity, infrastructure, and facilities, apart from a good supply of water and electricity.“
Rakesh Sharma, MD of Ideal Group, said that this circular ring expressway has modelled on the lines of King's Highway 401 in Canada.
Ravinder Taneja, vice-chairman of TDI Ltd, says: “The KMP Expressway will prove to be the single major catalyst in the industrial, residential, and commercial development of Haryana. The KMP area will majorly contribute in the `Housing for all by 2022' in the Delhi NCR.“
Rakesh Yadav, chairman of Antriksh India, said: “The KGP Expressway is likely to improve the economic and social conditions in all the areas it covers. The project is also expected to provide a thousands of job opportunities, which will attract real estate developers to enter the market. With the Supreme Court directive to the NHAI to wrap up the project by July, 2018, I see a great future for this region.“
The Haryana government's plan for the expansion of Metro Redline Route, from Rithala to Narela, to Kundli is also expected to give a new lease of life to the real estate market there.
The Sonipat-Kundli region has already seen a spurt in real estate development with many developers building mega townships and commercial projects. TDI Infrastructure is the largest developer in this area with 1,250 acers of land bank. Other major developers here are Ansal Properties, Eldeco, Omaxe and Raheja, Parsvnath, Ambience, Parker, Anant Raj Group, Tulip Infrastructure, Collage Group, Eros Group, AJS Builders, Divine, Vardhman, Jindal Greens, among others.