NH 24 widening set to unlock real estate potential

For nearly a decade Sanjeev Chaudhary, regretted his decision of buying a house at Crossings Republik on National Highway (NH) 24. Connectivity with NH 24, was the only reason that he had invested in a large integrated township in the location, in 2006. “I am not living in Crossings Republik, as living there and commuting for work, to any other part of Delhi-NCR, will be a nightmare. Adding to my woes, is the fact that there is hardly any scope for resale in this market and rental values are also less than 1 per cent. The NH-24 that should have been the lifeline for this market has, in fact, proven to be a punishment, due to congestion and bottlenecks,” he laments.

However, Chaudhary and hundreds of other buyers like him in the region, now have reason to cheer as the decks have been cleared for widening of the NH-24 into a 14-lane highway. 

This move is likely to benefit, not only the property market of Crossings Republik but also many other locations along the way. 

Property markets, right from Noida Extension to Lal Kuan in Ghaziabad and up to Meerut, are suddenly witnessing a spurt in transactions, due to the widening of the 21-km stretch of NH-24.

Improved connectivity

The Road Transport and Highways department is building the Delhi-Meerut Expressway, starting from Nizamuddin Bridge on Ring Road. Once finished, commuters will be able to reach Meerut from Delhi in 45-60 minutes and the travel time to Haridwar and Dehradun, will be reduced by almost an hour. 

The existing NH-24 will be widened to 14 lanes (presently it has eight lanes) up to UP Gate, while the stretch between UP Gate and Dasna will be converted to an eight-lane road. The next phase of the Expressway, will include a six-lane stretch joining Meerut bypass, on a new alignment from Dasna to Meerut.

Rajesh Jalan, a local property agent, expects more developers to launch projects near NH-24, as this area has huge land bank and boasts of good social infrastructure facilities like a police station, post office, banks and ATMs, schools and colleges, hospitals besides the Ghaziabad Railway Station and metro station. “The prices of residential projects in Noida and Gurgaon, have skyrocketed. Rental properties have also become inaccessible for the common man. The only option, is to explore new and emerging locations. The bottlenecks on NH 24 have, thus far, been a deterrent. Now, it will change,” he maintains.

Opportunities for buyers and developers

Developers are naturally sensing big business opportunities in the region. Nikhil Hawelia, MD of the Hawelia Group, asserts that once the process to decongest NH-24 is over, it will give a new lifeline to the property markets of Noida, Noida Extension, Indirapuram, Kaushambi, Ghaziabad and Crossings Republik. “As early as 2006, Newsweek magazine had rated Ghaziabad among the top 10 global destinations. However, the traffic bottlenecks on NH-24, killed the potential of the region. Widening of NH-24 will bring the region back in the reckoning to emerge as a global destination. The kind of land parcels that are yet to be explored in this stretch, make its case very strong,” says Hawelia.

Urban planning experts believe that NH-24 is certainly a better destination than the other NCR locations, because it is equidistant from east, north, south and central Delhi. 

It is especially beneficial for people of Ghaziabad, Noida and Delhi. Moreover, the apartments in this region are available at affordable prices and thus, hold great potential for appreciation, with the widening of the highwat and other infrastructure developments.

— With inputs from