– By Karan Bedi
It is well established that increased connection promotes regional socioeconomic growth. Cities that are linked by effective networks for transportation and communication optimise the flow of people, products, services, and ideas, fostering trade and economic development. The Western Dedicated Freight Corridor’s upcoming Delhi-Mumbai Industrial Corridor (DMIC) and the various economic hubs along the Delhi-Mumbai Expressway (NH 248A) will change the game for various regions and stimulate economic activity.
Once completed, the Delhi-Mumbai Expressway will significantly reduce the required travel time from 20 to 12 hours. It will be the longest motorway in the nation, spanning 1390 km through Delhi, Haryana, Madhya Pradesh, Gujarat, Rajasthan, and Maharashtra. The 8-lane motorway, which has the option of being expanded to 12 lanes, will not only connect a number of economic hubs, including Udaipur, Jaipur, Kishangarh, Chittorgarh, Ajmer, Kota, Ujjain, Indore, Bhopal, Ahmedabad, Vadodara, and Surat, but it will also help realise the government’s goal of developing international manufacturing hubs. This will have measurable positive effects on the real estate industry across all market categories, including residential, commercial, retail, leisure, hotel, warehousing, township, etc.
The demand for nearby residential and business properties will rise as a result of the motorway. The influence of this new chapter in economic activity has excited a number of real estate professionals. The project has been hailed as a “watershed moment for the Delhi-NCR real estate markets.
Highway will pave the path for more accessible, sustainable, and infrastructure-backed growth in the states it goes through. It will support the systematic expansion of investment opportunities into business parks and clusters, sizable logistic parks to support exports and trade, and new townships nearby. The area’s tourist and hospitality sectors will benefit from the Expressway as well. The improvement of the area’s infrastructure and transportation options will enhance general living conditions and make it a more desirable place for people to live and work, increasing demand for real estate.
The Expressway has been built with top-notch features, such as RFID tags, automatic toll collection, and CCTV surveillance. It is anticipated that these features will increase traveller convenience and safety on the Expressway while also drawing more people to the area as residents and investors. A key selling point for the motorway is that it will cut the current 18 to 20-hour travel time between Delhi and Mumbai to just 12 hours. Businesses will find it easier to operate between Delhi and Mumbai thanks to the improved connectivity and shorter travel times, which will raise demand for commercial and industrial buildings nearby.
The Expressway is also anticipated to give the region’s struggling tourism and hospitality sectors a much-needed boost. Tourists will have more options for where to stay and eat because of the better access between the two cities. Overall, the opening of the Delhi-Mumbai Expressway is an important milestone for India and is anticipated to have a big impact on the local real estate market. The motorway is anticipated to give the economy a much-needed boost, create jobs, and simplify travel between Delhi and Mumbai for both individuals and businesses. The highway demonstrates how hard the Indian government is working to upgrade the country’s infrastructure and give its citizens a higher standard of living.
Simply put, the Delhi-Mumbai Expressway is anticipated to have significant effects on India’s infrastructure and economy. The region is a desirable location for businesses and investors due to the shorter travel distances and more job opportunities. The increased demand for residential and commercial properties is expected to boost the real estate market, particularly in Sohna and Gurugram. The improvement in transportation facilities will make the region even more appealing to investors and developers.
(Karan Bedi is the Director of JMD Group.)