The Mumbai-Delhi expressway is a much-anticipated project that will connect the two metropolises of India. This project has been in the works for many years and is finally becoming a reality. The expressway will be a six-lane highway that will reduce travel time between the two cities from approximately 20 hours to just 8 hours! As one can imagine, this is excellent news for business owners and commuters alike.
But what does this mean for Mumbai’s real estate market? In this blog post, we will discuss the construction of the Delhi-Mumbai Expressway and its potential impact on the Mumbai real estate market.
About the Delhi–Mumbai Expressway
The work must be completed for a total cost of Rs. 1 lakh crore. It travels through Haryana’s (80 km); Rajasthan’s (380 km); Madhya Pradesh’s (370 km); Gujarat’s (300 km); and Maharashtra’s (300 km) conditions (120 km). The present 24-hour trip time will be reduced to just 12 hours by this highway, which will have 8 lanes (4 lanes in each direction) that run in reverse areas.
This highway, together with the Western Dedicated Freight Corridor, will serve as the backbone of the Economic Delhi-Mumbai Corridor.
A Complex but Multi-Purpose Developmental Approach
The government’s defined ambition to achieve more accessible, durable, and infrastructure-backed growth depends on the Delhi to Mumbai expressway. It will forge solid institutional ties between industrial production, infrastructure, agricultural development, and residential development.
It will encourage methodical investment into towns, logistical parks, commercial parks, and clusters nearby. The growth of the local textile, garment, chemical, and agricultural sectors will receive special attention. The creation of substantial logistical initiatives to increase commerce and exports will supplement this.
A few other significant infrastructure initiatives, such as the Delhi-Mumbai Industrial Corridor and the Western Dedicated Freight Corridor, would also contribute to the success of the Expressway.
Together, these three substantial projects will significantly strengthen the supply chain and provide the Indian economy with a level of resilience that has never been possible.
For those unaware, WDFC is a sizable railroad network that runs freight services connecting Dadri in UP to the JNPT seaport in Mumbai. The project will permit 100 km/hour of freight transportation. The DMIC is one of the largest industrial corridors linking the capital city with India’s economic hub.
Encouragement for Real Estate Development
The Delhi-Mumbai Expressway’s construction would provide a solid foundation for developing housing developments, townships, warehousing, commercial buildings, etc., which will result in noticeable growth for Indian real estate. It will establish the proper connection between the key parties involved, such as the developers, the governmental institutions, and the financial organizations.
Numerous emerging metropolitan areas, like Jaipur, Kota, Ratlam, and Vadodara, to mention a few, are traversed by this huge expressway. Additionally, it would be within driving distance of other major cities like Bhopal, Ahmedabad, Indore, etc.
Alignment of Greenfield
The construction of NH-8 through densely inhabited areas would’ve warranted the restoration of a significant portion of the population on either side. It increases the expense of acquiring land, thus increasing the complexity. The public authorities chose a greenfield layout because of these factors.
It is a well-known fact that the construction of roads causes a shift in demand for various real estate uses. Smaller to moderate real estate setups might now contemplate renting spaces thanks to the room’s availability.
The Bottom Line
The long-awaited Delhi-Mumbai expressway is finally under construction. This new expressway will reduce travel time between the two metros from 20 hours to just 8. This new expressway will profoundly impact the real estate markets of both Mumbai and Delhi. The most immediate impact will be felt in the suburban areas along the expressway route in Mumbai.
Properties along the corridor are already seeing an increase in demand as buyers look to capitalize on the expected infrastructure boom. Piramal Realty, one of Mumbai’s leading real estate developers, offers properties in Mumbai.
Visit our website to learn more about the latest offerings along the Delhi-Mumbai expressway.
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