New growth corridors of Delhi-NCR- Part 2
This article is a continuation of the New growth corridors of Delhi-NCR- Part 1
Neemrana
Neemrana, strategically located on NH-8, is among the fastest growing industrial centres in North India. It is a town in Rajasthan and part of the NCR which is in proximity to prime industrial areas such as Bhiwadi, Bawal, Khushkhera and Tapukara.
Industrial growth is the key driver of real estate development across the office, retail, commercial and residential segments in Neemrana. It is also is also a part of the Delhi Mumbai Industrial Corridor Phase I development. Availability of non-licenced land along NH-8 priced at Rs 1.2 crore per acre is luring developers. Some developers are acquiring land while some renowned developers like Eldeco, Ashiana and Anant Raj have already been launching projects. There is great potential for low-cost housing, affordable housing and integrated township projects in Neemrana.
Major projects such as developing a Korean Dedicated Manufacturing Zone, a Global City spreading over 40,000 acres, a cargo airport, etc are in the pipeline. Neemrana is also a strategic stopover in the Delhi Mumbai Freight Corridor.
Yamuna Expressway
The 165-km long Yamuna Expressway, after Noida, has been emerging as the next node for large-scale developments such as integrated townships and logistics & warehousing hubs. Proximity to Delhi and availability of land parcels are the potential drivers of this region.
As per the 2021 Master Plan, 20 percent of land has been allocated for residential development and 28 percent for industrial zones, while a substantial 21 percent is set aside for the green belt.
The price of land in Yamuna expressway is much lower compared to parts of the Delhi-NCR with non-licensed land available at Rs 1 crore to Rs 5 crore per acre. The prices of apartments are in the range of Rs 2,200 to Rs 3,500 per sq ft while plots are priced at Rs 14,000 to Rs 32,000 per sq ft. The low price range of properties on Yamuna Expressway has been luring end-users.
The proposed Delhi Mumbai Industrial Corridor is expected to pass through Dadri and will boost the development of warehousing and Special Development Zones along the expressway. Besides this, the developments such as Jaypee Sports City, Gautam Buddha University and Night Safari coming up along with other social infrastructure projects, are contributing to the sub-market in becoming a good residential hub.
NH-24
The national highway 24 offers excellent connectivity with various parts of the NCR and also the nation. The proposed upgrading and widening of NH-24, would offer better infrastructure and development opportunities. The stretch passing through Ghaziabad is in proximity of Indirapuram and Crossings Republik, which are the prime the existing residential sub-markets exhibiting huge investment potential.
The stretch provides easy access to the established residential and industrial corridors of Noida, and also grants excellent connectivity to the national capital Delhi, which are the prime factors attracting real estate developers to this part. At present, non-licensed land chunks are available in NH-24 in the price range of Rs 4 crore to Rs 5 crore per acre.
Projects along NH-24 are available at lower prices and reputed developers such as SARE, Wave Group, Antriksh, Land craft, Mahagun etc. are developing townships offering a wide range of residential properties with prices that would fit all pockets.
The Uttar Pradesh Government has proposed five underpasses on the 28-km stretch from Dasna to Indirapuram and making this stretch signal-free. Widening of the highway to six lanes to decongest traffic, widening of the stretch between Ghaziabad and Indirapuram towards the Delhi border to eight lanes, a road connecting NH-24 to Greater Noida before the Indirapuram Crossing have also been proposed. A Metro station has also been proposed at Indirapuram although the timeline has not been set for the project.
