NH-24: Emerges As Cradle Of Housing Investment
NH-24 Near Delhi Emerges As Cradle Of Housing Investment For Those Seeking Affordable Homes
Given the surge in prices of residential real estate across key UP cities - Noida, Greater Noida and Ghaziabad (part of the national capital region), the National Highway-24 has emerged as the cradle of investment for housing properties, in the last four years. For those willing to settle in green zone and yet remain within a stone's throw from Delhi, NH-24 , in recent years, has come up as a prime alternative for those seeking affordable homes.
Not only has the stretch provided next step destination to buyers, located on the hem of East Delhi, it enjoys key facilities like being attached to Ghaziabad, and also at a convenient distance from Delhi. Apart from the country-wide popular townships like Indirapuram, NH-24 has seen the establishment of settlements like Crossings Republik, Ansals API Aquapolis, and Hi-Tech city.
Sanjeev Srivastava, chief executing officer (CEO), Crossings Infrastructure, says: "NH-24 absorbs the influence of Delhi and the neighbouring 'hot township' of Indirapuram. We landed here after realizing a logical growth potential in the area. The highway has a number of colleges. If the highway is being widened, it offers a lot of scope for inhabitants and residents of these future townships." These townships promoted by single firms or consortium of builders say they are offering premium facilities within affordable range.
Key townships
While Crossings Republik is being developed by a syndicate of seven builders including Gaursons India, Assotech, Mahagun, Suptertech, Paramount, Ajnara and Panchsheel groups on about 360 acres, Ansals API is another township that is being raised by Ansals API on around 125 acres. Both the townships, located with easy accessibility to Delhi, Ghaziabad and Greater Noida, offer customers a host of choices from basic to premium to luxurious 2-3-4 bedroom choices. Developers are also offering discounts on early bookings to buyers.
Crossings Republik is being developed on an integrated-mode of development with facilities of a hospital, markets and education centres within the township.
Proximity to National Capital
"NH-24 has come up as an area for people who want to live close-by to the National Capital. Most bookings have come from people who have their professional calling in Delhi. People who have booked their houses are more of buyers than investors," says Raman Singh, a local property consultant. "And , if the GDA improves its surrounding infrastructure, the quality of life in the settlements located alongside the NH-24 would considerably improve," he adds.
Hi-Tech township
Even areas beyond the Hi-Tech city are geared for development with private builders in the process of acquiring land. Further, on the NH-24 , the Hapur Pilakhuwa Development Authority (HPDA) is keen to develop pockets on its land.
The Hi-Tech township is also high on the priorities of Ghaziabad Development Authority (GDA) and private developers. Much is being speculated on the prospects of the township, which is to be developed by Uppal Chadha group and Suncity Projects.
The Mayawati government has also announced a Hi-Tech Township Policy 2007 for the development of Hi-Tech townships across the state. As per the policy, the townships would be developed on a minimum of 1500 acres of land and seeks a capital outlay of at least Rs 1000 crores.
A strategic highway
Besides supporting several residential townships, the highway is the main connecting route between Delhi and Kumaon region. Nearly 5000 tourists traverse between Delhi and Uttarakhand through this road.
The flip side
The traffic explosion on NH-24 is a grave threat to the development of the region! Considered to be one of the most fatal and fast highways, National Highway-24 witnesses huge jams and bumper-tobumper traffic during peak hours and this has taken away the sheen off the area, to a great extent. The situation is particularly bad at Sales Tax Chungi near Vijay Nagar intersection, where long queues of parked trucks can be seen through the day on roadsides. Experts say the problem is only going to worsen in the coming years, if the authorities do not step in to address the problem.
Being the main connecting road between Ghaziabad, Noida and Delhi, people from Ghaziabad, take this route to heading for Noida, Greater Noida and Delhi.
Rakhi Agwarwal, a senior manager with a leading multinational bank in Delhi, who takes this route to her office everyday, says: "It is a very harrowing scene during peak hours when the traffic simply crawls or comes to a halt entirely. There is hardly any traffic sense to be seen on the road. While in one lane there are buses and cycles, in the other, there is fast flow of cars and twowheelers. It's very difficult driving through this stretch. What will happen to after two years later?"
Road widening, need of the hour
Till sometime back, the PWD, and NHAI denied working on any such plan to widen the highway. Mohammad Nisar, executive engineer (PWD), said: "Although a major section of the NH-24 stretch between Delhi-UP Border and Ghaziabad is with us but we are not executing any such proposal of widening the highway. The matter is pending with the ministry of surface transport, which is looking after this section." According to Nisar, a private consulting firm had already submitted the proposal to the ministry in June 2006.
Source: economictimes.indiatimes.com By Akash Vashishtha Feb-22-08
Given the surge in prices of residential real estate across key UP cities - Noida, Greater Noida and Ghaziabad (part of the national capital region), the National Highway-24 has emerged as the cradle of investment for housing properties, in the last four years. For those willing to settle in green zone and yet remain within a stone's throw from Delhi, NH-24 , in recent years, has come up as a prime alternative for those seeking affordable homes.
Not only has the stretch provided next step destination to buyers, located on the hem of East Delhi, it enjoys key facilities like being attached to Ghaziabad, and also at a convenient distance from Delhi. Apart from the country-wide popular townships like Indirapuram, NH-24 has seen the establishment of settlements like Crossings Republik, Ansals API Aquapolis, and Hi-Tech city.
Sanjeev Srivastava, chief executing officer (CEO), Crossings Infrastructure, says: "NH-24 absorbs the influence of Delhi and the neighbouring 'hot township' of Indirapuram. We landed here after realizing a logical growth potential in the area. The highway has a number of colleges. If the highway is being widened, it offers a lot of scope for inhabitants and residents of these future townships." These townships promoted by single firms or consortium of builders say they are offering premium facilities within affordable range.
Key townships
While Crossings Republik is being developed by a syndicate of seven builders including Gaursons India, Assotech, Mahagun, Suptertech, Paramount, Ajnara and Panchsheel groups on about 360 acres, Ansals API is another township that is being raised by Ansals API on around 125 acres. Both the townships, located with easy accessibility to Delhi, Ghaziabad and Greater Noida, offer customers a host of choices from basic to premium to luxurious 2-3-4 bedroom choices. Developers are also offering discounts on early bookings to buyers.
Crossings Republik is being developed on an integrated-mode of development with facilities of a hospital, markets and education centres within the township.
Proximity to National Capital
"NH-24 has come up as an area for people who want to live close-by to the National Capital. Most bookings have come from people who have their professional calling in Delhi. People who have booked their houses are more of buyers than investors," says Raman Singh, a local property consultant. "And , if the GDA improves its surrounding infrastructure, the quality of life in the settlements located alongside the NH-24 would considerably improve," he adds.
Hi-Tech township
Even areas beyond the Hi-Tech city are geared for development with private builders in the process of acquiring land. Further, on the NH-24 , the Hapur Pilakhuwa Development Authority (HPDA) is keen to develop pockets on its land.
The Hi-Tech township is also high on the priorities of Ghaziabad Development Authority (GDA) and private developers. Much is being speculated on the prospects of the township, which is to be developed by Uppal Chadha group and Suncity Projects.
The Mayawati government has also announced a Hi-Tech Township Policy 2007 for the development of Hi-Tech townships across the state. As per the policy, the townships would be developed on a minimum of 1500 acres of land and seeks a capital outlay of at least Rs 1000 crores.
A strategic highway
Besides supporting several residential townships, the highway is the main connecting route between Delhi and Kumaon region. Nearly 5000 tourists traverse between Delhi and Uttarakhand through this road.
The flip side
The traffic explosion on NH-24 is a grave threat to the development of the region! Considered to be one of the most fatal and fast highways, National Highway-24 witnesses huge jams and bumper-tobumper traffic during peak hours and this has taken away the sheen off the area, to a great extent. The situation is particularly bad at Sales Tax Chungi near Vijay Nagar intersection, where long queues of parked trucks can be seen through the day on roadsides. Experts say the problem is only going to worsen in the coming years, if the authorities do not step in to address the problem.
Being the main connecting road between Ghaziabad, Noida and Delhi, people from Ghaziabad, take this route to heading for Noida, Greater Noida and Delhi.
Rakhi Agwarwal, a senior manager with a leading multinational bank in Delhi, who takes this route to her office everyday, says: "It is a very harrowing scene during peak hours when the traffic simply crawls or comes to a halt entirely. There is hardly any traffic sense to be seen on the road. While in one lane there are buses and cycles, in the other, there is fast flow of cars and twowheelers. It's very difficult driving through this stretch. What will happen to after two years later?"
Road widening, need of the hour
Till sometime back, the PWD, and NHAI denied working on any such plan to widen the highway. Mohammad Nisar, executive engineer (PWD), said: "Although a major section of the NH-24 stretch between Delhi-UP Border and Ghaziabad is with us but we are not executing any such proposal of widening the highway. The matter is pending with the ministry of surface transport, which is looking after this section." According to Nisar, a private consulting firm had already submitted the proposal to the ministry in June 2006.
Source: economictimes.indiatimes.com By Akash Vashishtha Feb-22-08