In recent years, Indian has planned, proposed and developed many expressways which have not only made traveling easier but also created a positive impact on the Real Estate market of the surrounding areas. According to statistics, in 2014 there was 91,287 km of expressways developed which has increased many folds by 2018 i.e. to 1,31,326 km. Some of these projects include Eastern peripheral expressway,Kundli-Manesar-Palwal Expressway (KMP or Western Peripheral Expressway) and a portion of Delhi-Meerut Expressway.
Other proposed expressways in the list are Bangalore-Chennai Expressway, Delhi-Mumbai Expressway, Ganga Expressway, and Purvanchal Expressway, etc. All these proposed expressways will boost connectivity to major location, create job opportunities as well as generate a potential in the realty market.
Take a look at some of the key proposed expressways:
This expressway between the political and financial capital of India i.e. Delhi and Mumbai was proposed by Highway Ministry in 2018. The work on this expressway has already started in phases. It is said that the expressway will reduce the traveling time between Delhi to Mumbai by just 12.5 hours to that of 24.5 which is the current time. The expressway is expected to get completed by 2020 and the estimated cost of the project is Rs 1 Trillion. Delhi-Mumbai expressway will pass through 5 different states starting from Delhi thereby covering Haryana, Rajasthan, Madhya Pradesh, Gujarat, and Maharashtra. Expert suggests that it will not only boost trade but will also intensify the realty markets of the cities and districts from where it will pass.
This project was recently announced by UP CM Yogi Adityanath and will be constructed between Meerut and Prayagraj. Touted as World’s longest highway, the estimated cost of the project is Rs 36000 crore which will be built on 6,556 hectares of land. The phase 1 of the expressway will pass through major districts of UP namely Meerut-Amroha-Bulandshahr-Budaun-Shahjahanpur-Kannauj-Unnao-Rae Bareli-Pratapgarh and Prayagraj.
The second phase will link Tigri to UP-Uttarakhand Border of Haridwar and Prayagraj to Balia. The state government has also planned to develop industries, SEZ along the expressway which will pave the way for residential projects in the future.
Also known as Mumbai-Nagpur Super Communication Expressway or Maharashtra Samruddhi Mahamarg, this 8-lane, 701 km long expressway is currently under construction and will connect Mumbai to Nagpur. It is said that this expressway will reduce the traveling time between the two cities to just 8 hours. The estimated cost of the project is Rs 46000 crores and is expected to complete by 2020. The Land acquisition work is completed and the construction work has also started. It will pass through 10 districts and 350 villages boosting the realty as well as the business sector considerably.
To be developed between two popular Southern Cities of India, Bangalore and Chennai, this 262 long, 8-Lane expressway, is predicted as a boon for the commuters. This expressway will reduce traveling time between the two cities by just 4 hours. The expressway will be constructed in three phases with phase-1 development to take place between Hoskote and Bethamangala. It is said that this expressway will boost the industrial sector in major cities like Walajapet and Panniyur. Companies like Bajaj, Mahindra and Nissan have already set up their base here. It will also be going to boost the real estate market of the passing districts and cities with leading developers already coming up with their housing projects here.