More than 70% of the work is completed on the long-sought Delhi Mumbai Expressway. The Rs 98,000-crore mega project is slated to start operations in 2023, as per the latest briefings by the Road & Transport Ministry in India.
The access-controlled project will be 1350-km long and spread across 1500 hectares, seamlessly connecting Delhi with the Jawaharlal Nehru Port in Navi Mumbai. Once completed, the project will divert 50% of the traffic that moves southwards from Delhi. The expressway is among the biggest roadways projects in the world and will involve 80 million tons of cement and 10 million tons of steel.
It is developed under the flagship of NHAI with the help of a Special Purpose Vehicle (SPV). GOI is offering institutional support to delimit any adverse impact on the environment, promote clean energy and fight any possible climatic fatigue. The project will see the planting of “close to 1 million trees” across the highway. The lighting in the expressway will be run with the help of solar energy. There will also be arrangements for separate crossroads for wildlife. Meanwhile, it will also reduce the carbon footprint drastically.
A Nuanced But Multi-Purpose Approach to Development
The Delhi-Mumbai Expressway is integral to the government’s outlined vision to create a more approachable, sustainable, and infrastructure-backed development. It will create strong institutional linkages between real estate development, infrastructure, agriculture, and industrial manufacturing.
It will drive systematic investment into business parks & clusters, logistic parks, and townships in its proximity. Special focus will be given to developing textile, apparel, chemical, and agro-industries in the vicinity. This will be augmented by the development of large-scale logistic projects to boost trade and exports.
The Expressway will also draw strength from a couple of other major infrastructure projects, including the Western Dedicated Freight Corridor and the Delhi-Mumbai Industrial Corridor.
These 3 large-scale projects in conjunction will significantly improve the supply chain and offer an unprecedented amount of resilience to the Indian economy.
For the uninitiated, WDFC is a vast railway network of freight services starting from Dadri in UP and reaching JNPT port in Mumbai. The project will allow freight transport at speeds up to 100 km/ hr. DMIC is one of the biggest industrial corridors that will connect the national capital with the commercial epicenter of India.
Boost for Tangible Real Estate Development
The Delhi-Mumbai Expressway will bring tangible growth to Indian real estate by giving a robust framework for developing housing projects, townships, warehouses, commercial properties, etc. It will create the right link between major stakeholders involved, including developers, governing agencies, and funding institutions.
The extensive expressway passes through numerous upcoming urban corridors such as Jaipur, Kota, Ratlam, Vadodara, to name a few. It will also be at an approachable distance from other existing cities such as Ahmedabad, Bhopal, Indore, etc.
Already property demand has started to jump at the entry point of the expressway, which also includes Sohna and Faridabad in Haryana. As the project approaches completion, systematic investment inflow into new urban corridors, townships, SCOs etc. will steeply increase. Meanwhile, as commercial activities and manufacturing clusters evolve, it will also naturally drive real estate demand in the areas nearby.
(By Ankit Kansal, Founder & MD, 360 Realtors)