The government has given the approval of widening the NH 24 which at the moment is completely in Uttar Pradesh. It has a great connectivity and brings in smooth traffic to Ghaziabad. According to the officials, the second phase of the Delhi – Meerut expressway this national highway will be widened to give a smooth passage to a heavier traffic. This widening project will start from UP gate till Dasna. It is likely to be completed until May 2019 and the government has given the deadline to be May 2020.
Moreover the first phase of Delhi – Meerut highway which is coming from Akshardham to UP gate is likely to be completed in coming few months. Once the connectivity is build till Dasna. There would be a reduction in traffic in a lot of parts of Delhi as well as NCR. With this highway, one of the cities that is going to be affected positively and negatively is Ghaziabad.
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Due to this NH project Ghaziabad is going bear many changes and one of them is the swelling in the real estate business. The lubricated passage of the highway will surely increase the rates of the property, prices of houses and rent of the homes build in this passage.
If we were to belief the reports, there are a few bidders for this project of 1700 crore who were disqualified by National Highway Authority in India. Their bidding faced rejection from the governing body during the initial phase of technical bidding. This caused more delay in the work and the further delay was because the bidder challenged this rejection in the Delhi High Court. Due to this case this particular work was kept on halt for some time.
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If we were to see the negative side of the extension of the NH 24 then, according to officials there is a lot of space in some area which will provide ease in widening the road but at the same time in some areas the trees are already cut down or are in the process. This will harm our natural environment causing a lot of problem. So this can be counted as another negative result for the same.
After the completion of this project in 2019 or 2020, there will be a huge leap in the real estate of Ghaziabad. So, the buyers who have already purchased property in Ghaziabad or Delhi-NCR region will be at a profit side and will bear a lot of advantage from this.
The widening of NH 24 is not just a public or private affair. It is a partnership between both. Although the bidders are not yet selected but when they will be, they will have to tie up the finances for this stretch in just 6 months. Due to NH 24 widening, the property in Ghaziabad and all the areas around this national highway will soar high abruptly.
The government have given a particular deadline to the officials that has to be met. To do so there is a lot of pressure on them moreover, all this is going to give high kick start to the rates of the flats and property.