4 Major Infrastructure Initiatives That Will Transform NCR’s Realty Market
NCR has seen the highest migration in the country. To cater to the needs of the burgeoning population and future development, the government has proposed various infrastructure projects. These aim to provide better social and physical infrastructure for residents. Some of the major infrastructure initiatives proposed by the government are as follows:
|
Infrastructure Project |
Key Areas |
Implementation Stage |
Remarks |
|
Delhi- Mumbai I Industrial Corridor (DMIC) |
NUP, Haryana, Rajasthan, Gujarat and Maharashtra |
Expected to be completed by 2017 |
Expected to be the biggest infrastructure project in India; to be funded (about Rs 10 billion) by India and Japan; it would be spread across 2700 km with six mega investment regions |
|
Regional Rapid Transit System (RRTS) |
Delhi, Panipat, Alwar, Meerut |
To be implemented in phases after approval |
To provide integrated multi-modal transportation system between Delhi and its satellite towns; to be developed by NCRTC at a cost of about 71,120 crore |
|
Delhi-Jaipur Expressway |
Delhi, Jaipur |
Yet to be cleared |
The 272-km long expressway is estimated to cost about Rs 11,750 crore |
|
Expansion of Delhi Metro (Phase III) |
Badli, Bawana, Najafgarh, Bahadurgarh, Ghaziabad, Faridabad and Noida |
Expected to be completed by Dec, 2016 |
Biggest of all DMRC projects; to add 140 km to existing Metro network in Delhi |
DMIC is so far the biggest infrastructure project in India and Delhi/NCR is one end of the project. The project aims to promote industries, manufacturing and provide employment, which overall improves the economic situation. This project holds a key role in the housing demand of NCR. Gurgaon, Greater Noida, Bhiwadi, Faridabad and Ghaziabad are the cities which will have major impact due to the project.
RRTS will ease the travel situation in Delhi/NCR. This is a proposed integrated multi-modal transportation system connecting Delhi to its satellite towns, which will ease the housing pressure on Delhi, encouraging people to travel for work from the satellite towns. Another project which is proposed with a similar idea is the Delhi-Jaipur expressway. This is also an initiative to ease the travel conditions between the two cities as it is also a part of major trade route.
DMRC’s Delhi metro phase-3 is the most awaited project as it allows people to stay at affordable places and travel for work in the most efficient way. Many developers and builder are developing residential projects along the metro corridors.
