How FNG Expressway Will Change NCR Real Estate Market
The much-awaited transport corridor, Faridabad-Noida-Ghaziabad (FNG) Expressway, is finally nearing completion. Soon, the four cities - Faridabad, Noida, Ghaziabad and Gurgaon, which are the nerve centres of the National Capital Region's realty market, will be connected by a common route. Set to become operational by next year, the expressway is coming in as a breather for thousands of commuters. Covering a journey from Faridabad to Ghaziabad or Noida, was until now, a herculean task but will no longer be as the commute time, will reduce to just half an hour.
The six-lane FNG Expressway, is a part of the Eastern Peripheral Expressway or National Expressway 2 or Kundli-Ghaziabad-Palwal (KGP) Expressway. Spanning 56 kilometres, this stretch covers 20 kms in Noida-Greater Noida, 8 kms in Ghaziabad and the remaining 28.1 kms in Faridabad.
Besides reducing traffic congestion, the corridor is about to emerge as a big realty destination. MakaanIQ tells you how the FNG Expressway will transform the NCR's roadmap.
FNG Expressway to be a national highway
The National Highway Authority of India (NHAI) has been given directives to develop the corridor as a National Highway. When commuters will begin using the expressway, there would likely be reduction in traffic congestion in existing road networks, apart from a drop in vehicular pollution levels. This is especially beneficial for heavy vehicles, which had to cross Delhi to reach Haryana.
The Eastern Peripheral Expressway, which carries the FNG Corridor, is being developed with world- class features such as smart highway traffic management systems (HTMS), landscaping as well as wayside amenities like petrol pumps, repair services, motels, etc. Service lanes on both sides of the expressway, will also be developed.
There are plans to convert thee FNG expressway into a 75-kilometre stretch extending up to Sohna, in Gurgaon. This will be yet another landmark development inn India's infrastructure front.
Supporting infrastructure projects for FNG Expressway
To set the stage, development authorities had launched a demolition drive to remove encroachments along the route. Similarly, efforts were taken to resolve legal issues with farmers.
The development of two bridges linking Noida to Faridabad, have received a go-ahead from the NCR planning board. One of them links Noida's Sector 168 with Faridabad's Badoli Village, while the other connects Sector 150, Noida, to National Highway 2 in Faridabad.
In addition, two flyovers - one at Vijyant Thapar Marg in Sector 88 and another at Noida-Greater Noida Expressway near Sector 142, will be constructed.
Emerging localities on the FNG Expressway
The localities which fall along the corridor, are likely to witness growth in residential as well as commercial real estate development. Noida's Sector 63 near National Highway 24, along with Sectors 117, 118, 121, 122, 137, 142, 143, 150 and 168 are gaining a strategic locational advantage due to this project. Also, the corridor will link Dalelpur in UP, cross Haryana's Mehatpur, Lalpur, Bhupauni and Khedi Villages and would finally join NH 2 near Palwal. Newly-developed localities of Faridabad entailing Sector 66 to 89, that form a part of Neharpar, are also clear winners in terms of connectivity.
The FNG Expressway offers huge potential for sale of land plots. The new corridor will also see an increase in budget homes for the middle-income groups. Property developers promoting their projects on these localities, are strongly banking on the connectivity factor as a major growth driver.