After a drought of nearly seven years, the
much awaited KMP Expressway was recently given a green signal by our Honourable
Union Minister of Road Transport, Highways and Shipping, Mr. Nitin Gadkari. Out
of the much delayed 135.6 Kms long Kundli-Manesar-Palwal (KMP) stretch, the
first phase from Palwal-Manesar, which is 52.3 Kms in length, has been
inaugurated. The other phase of 83.3 Kms (Kundli-Manesar) is likely to be
completed in the next one year. With the first phase ready for traffic use,
National Highway 2 (NH 2) is now connected to National Highway 8 (NH 8). An
elevated corridor on NH 2 has also been announced that will cover all the four
intersections in Palwal. The opening of KMP Expressway will not only reduce the
traffic burden from Delhi, but increase the real estate prospects for regions
falling along NH 2 and NH 8.
“The first leg
of the KMP Expressway has been finally opened after a seven years long delay.
This will allow vehicles coming from Jaipur to bypass Delhi towards Faridabad
or even Agra. With this, there will now be a much greater footfall across these
Highways that will help in enhancing the housing and commercial demand in the
long run”, comments Kushagr Ansal, Director, Ansal Housing.
Geographical Advantage
Since the
opening of this stretch, NH 2 has been directly linked to NH 8 via Palwal and
Manesar, the patch which has been completed at a cost of Rs. 457.81 crore. The
stretch is free for commuting for the next two months, post which, cars will
have to pay Rs. 1.3 per Km and Rs. 4.5 per Km for heavy vehicles. The stretch
will have four toll plazas that will allow the commuters to pay for the desired
stretch rather than the whole corridor. Explaining the geographical advantage
that this stretch holds, Avneesh Sood, Director, Eros Group says “Once the
entire 135.6 Kms long KMP Expressway is complete, the regions falling along NH
1, NH 2 and NH 8 which are mostly tier 2 & 3 in nature, will see an upsurge
of realty demand in the long run. Apart from decongesting Delhi, this will
allow greater footfall in Kundli, Manesar, Palwal and its adjoining regions
that will result in better infrastructural development. Investors in particular
are sure to see this as a boom as prices in these regions are much more
competitive than Delhi and Gurgaon.”
The KMP
Expressway, also known as the Western Peripheral Expressway will pass through
Palwal, Gurgaon, Mewat, Jhajjar and Sonipat districts. The Eastern Peripheral
Expressway will connect Kundli, Ghaziabad, Gautam Budh Nagar and Palwal; thus
allowing a wonderful network. “This stretch is now active for public and will
allow commuters to travel without touching Delhi. Having a major road transit
facility in vicinity helps save travel time and money as well; and history has
been a witness to how infrastructure plays a vital role in the upbringing of
real estate prospects of a region. The realty prospects of the regions across
Western U.P. and Haryana are sure to witness a flourish which will promote commercial
and housing development in the micro pockets”, avers Rajesh Goyal, Vice
President CREDAI-Western U.P. & MD, RG Group.
Boost to Realty
It has always
been observed that infra upgradation and connectivity play a vital role in
shaping up the realty projection for regions. The news of KMP becoming active
is very crucial for the real estate markets of Gurgaon and Ghaziabad
specifically, as these regions were nearing saturation due to price escalation.
Other regions in the vicinity will now come up as a result of the blend of
Western and Eastern Peripheral Expressways. “Several emerging destinations
across the country are unable to make an impression on the potential buyers due
to the absence of proper infrastructure. A residential property buyer will always
buy once the region where he’s investing has a sound infrastructure in place.
This not only allows residents to receive a good habitat but at the same time,
receive future capital appreciation which is usually possible with developing
regions. KMP Expressway will now act as a perfect catalyst to fuel to the
realty growth in the regions”, elucidates Rakesh Yadav, Chairman, Antriksh
India.
This Expressway
holds extreme significance not only because it will ease the traffic flow but
will connect Northern Indian states with Central and Southern counterparts. KMP
Expressway will connect four of India’s major National Highways; NH 1
(Delhi-Ambala-Amritsar), NH 2 (Delhi-Agra-Varanasi-Dankuni), NH 8
(Delhi-Jaipur, Ahmedabad-Mumbai) and NH 10 (Delhi-Hisar-Fazilka-India &
Pakistan Border). “KMP Expressway is extremely crucial if we look at it from a
PAN India perspective. Major tier 1 realty regions such as Delhi, Mumbai,
Punjab, Gujarat, etc. are connected through it. This Expressway will take real
estate sector interstate and allow NCR specific developers to expand their
regions for development. NCR real estate has received a tremendous gift that
will allow micro regions to develop and investors to find a new hub”, concludes
Ankit Aggarwal, CMD, Devika Group.
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