Activity in the Indian real estate market is booming, especially in the Punjab and Haryana regions. The government’s ambitious plans for infrastructure development, which include building new roadways, are a major factor in this expansion. In addition to increasing connectivity, these new roads are opening up a substantial amount of real estate opportunity.
The Highway Impact
The landscape of the area is expected to be completely transformed by the three main highways under the Bharatmala Pariyojana: Ambala-Delhi, Panipat-Dabwali, and Hisar-Rewari. A number of reasons will raise land values once these roadways are built and made accessible to traffic:
➡️ Better Communication
Reduced Travel Times: People will choose to live and work in the area more frequently if commutes are easier and more convenient.
Enhanced Accessibility: Businesses will be able to access new markets and possibilities thanks to improved connection, which will boost investment and economic activity.
➡️Increased Demand for Real Estate
Residential: As more people relocate to these areas, there will be a greater need for housing, which will raise the price of residential real estate.
Commercial: The increased accessibility and connection in these regions will draw businesses, increasing demand for commercial real estate, including retail stores and office buildings.
Industrial: By making it easier to transport materials and goods, the new highways will draw manufacturing facilities and industries, which will raise the demand for industrial land.
➡️Infrastructure Development
Public Facilities: To increase the allure of the areas along the new highways, the government is probably going to make investments in public facilities including schools, hospitals, and recreation centers.
Social Infrastructure: Better utilities like electricity, water, and sanitary facilities will improve locals’ quality of life and draw more tourists to these places.
Real Estate Projects Along the New Highways
Numerous real estate developers are already starting projects in the area after realizing the possibilities of these new highways. These developments provide a variety of choices, ranging from luxurious villas and commercial areas to reasonably priced housing.
➡️ 11 projects totaling Rs 6,393 crore have been sanctioned by Union Minister for Road Transport and Highways Nitin Gadkari to develop national highways in Haryana.
➡️ The 11 projects include the Rs 5000 crore East-West Expressway from Dabwali to Panipat, as well as several underpasses to enhance road connectivity and traffic flow. By building this expressway, Haryana’s western region will be accessible, providing quick access to both the eastern region of the state and the Meerut region of Uttar Pradesh.
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Real Estate Projects Along the New Highways
Numerous real estate developers are already starting projects in the area after realizing the possibilities of these new highways. These developments provide a variety of choices, ranging from luxurious villas and commercial areas to reasonably priced housing.
Important Trends in Real Estate
Affordable Housing: The expansion of affordable housing developments in these areas is being propelled by the government’s emphasis on cheap housing as well as the rising demand from the middle class.
Luxury Housing: As India’s rich class grows, there is a growing demand for upscale residences and villas, particularly in locations with beautiful scenery and easy access to facilities.
Commercial Real Estate: Demand for office space, retail stores, and industrial warehouses is being driven by the expansion of enterprises and industries.
Mixed-Use Developments: These projects offer a comprehensive living and working environment by combining residential, commercial, and retail elements.
Specific Real Estate Projects Along the Ambala-Delhi Highway
➡️Zirakpur: Numerous residential and commercial constructions have made this area a significant real estate hub. Some notable projects include:
- Gulnaar Meadows
- Sushma Chandigarh Infinium
- Unitech Global Business Park
- Maya Garden City
- La Prisma
➡️Panchkula: This city specializes in gated communities and luxury houses, but it also offers a variety of business and residential assets.
➡️Yamunanagar: The strategic position of this industrial city is driving up demand for commercial and industrial real estate.
Opportunities and Challenges:
Although Punjab and Haryana’s real estate markets are expected to grow significantly, there are several obstacles that must be overcome:
Land Acquisition: Purchasing land for real estate developments can be a difficult and drawn-out procedure.
Regulatory Obstacles: Project schedules and expenses may be hampered by delays in clearances and approvals.
Infrastructure Development: The government must make sure that the growth of roads, water supplies, and sanitary facilities keeps up with the growth of real estate.
Notwithstanding these obstacles, Punjab and Haryana have enormous real estate growth potential. These states have the potential to become important Indian real estate markets with adequate preparation and implementation.
Conclusion :
For the real estate industry, the building of new highways in Punjab and Haryana is revolutionary. These roadways are propelling the expansion of commercial, industrial, and residential real estate by enhancing connectivity, drawing in investment, and opening up new opportunities. Addressing the issues and ensuring sustainable growth are crucial as the area develops further.
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