Real estate development on NH-24 has registered steady growth in recent times. Realty players give credit to private developers and the government for having brought the NH-24 region to this level.
Across the Hindon, areas like Indirapuram Extension, Crossings Republik, Mehrauli village, Govindpuram Extension, and Wave City are considered as hot locations for real estate development. These areas have seen a slew of realty project launches with the forthcoming integrated township and group-housing projects affording a good alternative to the crowded Delhi region.
It is expected that this area will create an attractive environment for high-quality living, with places of work, recreation and residence within easy distance of each other.
The Ghaziabad Development Authority (GDA) has approved a number of housing projects, which are in an advanced stage of construction; some have been delivered and people have moved in, as the place transforms into a habitable real estate zone.
The forthcoming townships and group-housing projects are well connected to national highways, namely, NH-24 and NH-91, and are in close proximity to Raj Nagar and Kavi Nagar. Realty players like Wave Infratech, SARE Homes, Landcraft, Ashiyana Homes, Ansal API, Aditya, Nitishree, Jaipuria, etc, have launched several projects here.
Why to Invest in Projects on NH-24
NH-24 is an important expressway where a lot of construction activity has been taking place in recent times.
The road transport and highway ministry has finally moved a proposal to convert the Delhi border-Dasna stretch of NH-24 into an eight-lane corridor. The widening of the 20km corridor, which is used by over 2 lakh vehicles daily, will bring relief to commuters who often get caught in long jams. The project will make this stretch an ideal place for all those who are looking for commercial or residential solutions.
Earlier, public transport was the main drawback on NH-24, which looks to be easing with some new infrastructure projects proposed for the area. The GDA and the Delhi Metro Rail Corporation (DMRC) have approved a project to extend the Metro line up to Mehrauli village. The high-speed train project and the FNG corridor will also improve the connectivity of along NH-24. The entire developing zone is being given a makeover with flyovers and underpasses.
These improvements have changed the definition and image of NH-24 among homebuyers, and lent a positive impact on the growth of real estate industry of Ghaziabad. To free the local traffic, some important crossings at the busy NH-24 are getting a makeover.
After UP Gate, an important T-point connected from NH-24 and Dabur Chowk, some of the ‘chaurahas’ (crossings) where local traffic is highly congested at peak hours like Kala Patthar, Abhay Khand and CISF Cut are being renovated. According to the plan, the 20km stretch of the NH-24 up to Dasna Tiraha will soon be widened from existing four lanes to six lanes.
Widening of NH-24
The Ghaziabad Development Authority has got the sanction to widen the NH-24 from four to six lanes. The Union surface transport ministry has also approved the construction of three underpasses that were proposed by the GDA. The authority had recently sent a proposal to NHAI to transfer land to the authorities.
The Ghaziabad Development Authority has earmarked the underpasses and FOBs (foot overbridge) that would be built to decongest traffic on an urgent basis. This will utilize existing underpasses at Shipra Mall and the carbon factory along NH-24 and lay new service roads to divert traffic.
The Noida authority is also planning a flyover from the old FNG highway, apart from a semicloverleaf. The three new underpasses proposed by the GDA would be constructed along the stretch from Lal Kuan to UP Gate. Besides, the authority has proposed laying of new service roads at Chhajarsi, CISF crossing and Kala Patthar, which would be aligned with the national highway in order to prevent congestion at these points and streamline traffic between Ghaziabad and Noida.
The three foot overbridges have also been planned at the District Collectorate, Vijay Nagar and Khoda to facilitate movement of pedestrians.
The Noida authority is planning to make the Sector 62 crossing signal-free, as thousands of commuters get stuck in traffic here every day during peak hours; an underpass and two cloverleaves are required to ease the movement of traffic here.
Real Estate Market Scenario On NH-24
For those who are looking for good investment options, in commercial and residential sectors, Ghaziabad’s NH-24 region has emerged as the ideal destination.
The built-up rates of the group housing projects in the vicinity of NH-24 are in the range of Rs 3,200-3,500 per sq ft, while in Crossings Republik the range is Rs 3,200-3,600 per sq. ft.
Alok Kumar Upadhayay
Real Estate Professional