In Union Budget 2018, ₹ 5.97 lakh crore is allocated to creating and upgrading infrastructure which is 20% more than last year budget allocation. For the Ministry of Road Transport and Highways, the budgetary allocation has been increased to Rs 71,000 crore for 2018-19 from Rs 64,900 crore in the ongoing fiscal.
It is an established fact that prosperity in real estate industry is directly proportional to its infrastructural development. Infrastructure development has always been an important area to focus for the Narendra Modi led NDA government. In Union Budget 2018, ₹ 5.97 lakh crore is allocated to creating and upgrading infrastructure which is 20% more than last year budget allocation. For the Ministry of Road Transport and Highways, the budgetary allocation has been increased to Rs 71,000 crore for 2018-19 from Rs 64,900 crore in the ongoing fiscal.
Any type of development in infrastructure tend to increase the value of properties available in the adjoining areas. This is mainly because the infrastructure project is considered as a part of USP for the realty developers or landowners as it is an influencing factor for real estate investment and development decisions in cities. Therefore, the better infrastructure can improve the growth of real estate industry to another level.
Hindon Elevated Road to Boost Real Estate Market in Ghaziabad
If one can highlight the key infrastructural developments in Raj Nagar Extension, one cannot ignore the 10.3 km-long, six-lane Hindon elevated road from Raj Nagar Extension to UP Gate which has added more feathers to the cap of real estate in Raj Nagar Extension.
the commuting time from Ghaziabad to east Delhi border will be reduced to just 15 minutes at a permitted speed of 80 kmph. Commuters traveling to Meerut, Hapur and beyond get to benefit from a clear passage courtesy of the six-lane Hindon elevated road.
Hindon elevated road is now operational and traffic easing from Ghaziabad, the city is sure to witness a boost in the demand for properties which will increase the prices of properties.
With such infrastructural developments, it is sure to become one of the key highlights of NCR real estate market and going to witness an exemplary surge in demand for properties.
Eastern Peripheral Expressway To Boost Real Estate Market In Delhi-NCR Region
Eastern Peripheral Expressway is the country’s first Green Highway, with landscaping, plantation with approximately 2.5 lakh trees and completely lit by solar energy. The Expressway farmers, traders and the people of the NCR region and neighboring states of UP, Uttarakhand as a whole will greatly benefit from the expressway by providing better road connectivity in the Delhi NCR region. The region will also get a major boost to the transport infrastructure, making it more efficient, speedier and less polluting, which in turn, will give a major boost to the economy of the region as a whole.
Impact on the property market
Dwarka Expressway To Boost Real Estate Market In Delhi-Gurugram
Dwarka Expressway also known as Northern Peripheral Road is high-speed link road. The road will connect Delhi and Gurugram and therefore it will be a boon to commuters traveling from Delhi to Gurugram and Manesar offering them a congestion-free travel. It will provide faster access to the airport and the areas will also have an access to the proposed diplomatic enclave as well as the present Metro corridor.