The Delhi-Meerut Expressway has already been inaugurated by Prime Minister Narendra Modi and will lower overall commuting time to 45 minutes between Meerut and Delhi. The first green and smart highway in the country, namely the Eastern Peripheral Expressway, was also launched by the Prime Minister. Widening of this entire stretch till Meerut may impact real estate markets positively according to experts and lead to an increase in prices.
The first phase of the stretch runs through well-established micro markets like Patparganj and Mayur Vihar and portions of Indirapuram. Prices may marginally increase in these areas. Areas such as Dasna and others may start transforming into coveted realty zones with the widening of this entire stretch. Prices may also go up across areas like Crossing Republik and Siddharth Vihar along the way.
Widening the Meerut Expressway should certainly scale up demand for projects in the entire region. Prices may also go up once established or branded real estate developers come up with more projects along the stretch. Overall buying sentiments may improve with the widening of the expressway. At a natural level, improvements in overall road connectivity will certainly lead to an increase in prices.
In case of the Noida Expressway, it did spark real estate development for the National Highway 24 and a similar phenomenon may be observed in the future for the Meerut Expressway. Widening will make several areas more accessible and this may boost real estate prospects. The warehousing industry is already expected to get a boost with the opening of the Eastern Peripheral Expressway.
Key points that will boost real estate include the lowering of travel time to 45 minutes between Meerut and Delhi. This will be the first bridge in India to get solar power systems, drip irrigation and vertical gardens along with attractive lighting systems. The project covers 82 kilometres and there will be 14 lanes for the first 27.74 lanes while the remainder will be a 6-laned expressway. The portion between Dasna and Delhi which covers 19 kilometres, should be executed by May 2019.
By August 2018, the stretch between Haspur and Dasna which is 22 kilometres, will be completed and bids have already been sought for the completion of the stretch between Meerut and Haspur which spans approximately 31 kilometres. The Eastern Peripheral Expressway is the first highway in the country to get solar power and rainwater harvesting provisions for every 500 metres. There will be 40 fountains and 36 national monuments that will be showcased as well.