How Will NH-24 Expansion Change The Face Of NCR?
The proposed widening of the National Highway-24 is expected to take off in August. Also known as the Delhi-Meerut Expressway, this 438-kilometre-long highway links national capital Delhi to Lucknow via Ghaziabad, Hapur, Moradabad, Bareilly, Shahjahanpur and Sitapur. Although the highway has been recognised as a fast-developing affordable housing corridor in the National Capital Region (NCR), its expansion plan has assumed more significance in the wake of frequent traffic jams and lack of public transport.
MakaanIQ looks at some important aspects of NH-24 and how its expansion can change the face of NCR.
Key aspects of NH-24
- Cost: NH-24 is being widened under a Rs 7,500-crore project
- Length: Starts from Nizamuddin Bridge in Delhi and continues up to Dasna
- Housing: Low-mid-segment housing options are available at affordable property prices
- Timeline: The project is expected to be completed in two-and-a-half years
- The project's scope: The 87-kilometre project comprises a six-lane expressway and 4+4-lane highway, service roads, cycle tracks, flyovers, elevated sections, and minor bridges, railway overbridges, vehicular underpasses and pedestrian underpasses
Project's impact on housing market
- Affordable housing: The development of NH-24 Expressway will lead to growth of affordable housing segments, particularly accommodations in 1- and 2-BHK categories within the price range of Rs 15 lakh to Rs 30 lakh. Projects in varying budgets are also available along the stretch.
- Traffic: Widening of the route will streamline the traffic scenario and minimise commute time, especially from Ghaziabad to Delhi.
- Prices: The affordable housing market is likely to witness the highest appreciation in prices.
- Likely beneficiaries: Major areas that will benefit from the project include Indirapuram, Vaishali, Noida Sector-62, Crossings Republik, Greater Noida West, Siddharth Vihar and Hi-Tech and integrated townships. NH-24 is a densely populated route and the number of housing projects as well as buyers are expected to rise.
- Connectivity: After completion, the route will provide excellent connectivity to Ghaziabad, Noida and Greater Noida, leading up to Meerut and Hapur.