Decongestion of Delhi
has long been on the cards and ever since the idea of satellite cities was
formulated, there have been talks of interlinking them from the outskirts
making sure that vehicular traffic between them does not need to pass through
the national capital. Eastern Peripheral Expressway was one such project, a
part of which is termed as the FNG Expressway connecting Faridabad, Noida and
Ghaziabad. The six lane expressway is touted to be around 56 Kms long and will
connect NH 24(NH 9) with NH 2 engulfing Ghaziabad, Noida and Faridabad. 20 Kms
stretch of the expressway falls under the Noida – Greater Noida region and is
expected to be complete by this year end. Once complete in true senses, this
expressway will not only unlock land parcels in the regions along it but also
allow working classes to buy affordable houses on the outskirts of the city
which will cumulatively change the urban landscape of the region.
Throwing light on the
same, Rakesh Yadav, Chairman, Antriksh India Group says, “History has been a
witness to how well-developed infrastructure and connectivity shapes up the
real estate prospects of a region. There exist a direct relation between real
estate in a region and the region’s development with respect to infrastructure
and connectivity. You talk about India and other countries, everyone’s real
estate performance bets upon decent infrastructure and connectivity in the
region to make sure that target audience is grabbed for short term which can be
carried till long term as well. Localities with better road connectivity always
get picked first in case of buying or developing the property and hence one can
say that the completion of this expressway will boost real estate to a great
extent in the adjoining regions.”
The same goes on to exemplify
for both commercial and residential real estate which is very well reflected in
the words of Manoj Chaudhary, MD, Airwil Infra who says, “Connectivity and
quality of roads reduces the travel time between places hence increasing the
approachability between them. Connectivity improves the social meetings with
friends and families with low fuel expenses, low travel time and low distance.
Travelling to workplaces also gets improved as the amount of time taken for
reaching workplaces is reduced. As the time taken to travel to workplaces is
reduced; hence people can enjoy their life apart from the office and spend more
time with friends and families thus enhancing their lifestyle. Also, once a
commercial property sets up in a region, it banks high on external catchment
and if the location is well connected with decent infrastructure, it becomes 50
percent easy for the commercial property to meet its supply.”
FNG Expressway is bound
to outshine the existing status of Noida’s already famed real estate because of
the seamless connectivity it will provide to its multiple sectors such as
sectors 137, 142, 150, 168, etc. Describing this further, Dhiraj Jain,
Director, Mahagun Group says, “For a real estate region to be successful,
location, connectivity and infrastructure play the maximum role. The supreme
positioning of this expressway is sure to enhance the unmatched connectivity of
these regions and give buyers another reason to invest in these sectors. This
will ensure that people employed not only in Noida or Greater Noida but also in
Faridabad can look out for residential options in these sectors. Also, with a
proposed SEZ in vicinity of this expressway, it will open employment
opportunities for people from both ends of the expressway.”
Concluding on the
benefits of this patch on NCR’s realty market, Deepak Kapoor, President
CREDAI-Western UP & Director, Gulshan Homz says, “This project once
completed will be a true blessing in disguise not only for a daily commuter as
it will smoothen the nightmarish traffic on the 56 kms stretch, but is also one
Infrastructural development which will prove to be a true boon for Real Estate
Developers. Along with the stretching metro connectivity, all farfetched areas
of Delhi NCR will slowly become more and more accessible and bring them to the
forefront for the general masses. There are further plans to connect all five
prime regions of Noida, Ghaziabad, Faridabad, Greater Noida and Gurgaon through
a network of planned expressways which will further enhance the connectivity of
the entire NCR.”
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