WHAT ARE THE GAINS?
It could be too early to expect Mahendragarh, Bhiwani and Bharatpur to benefit significantly from their inclusion in the NCR
What will be the outcome of the recent decision of the government to add three new entrants - Mahendragarh and Bhiwani in Haryana and Bharatpur in Rajasthan - to the exclusive NCR club? If one takes the examples of Hapur, Bulandshahar and Bagpat, which were included in the NCR a few years ago, magic should not be expected to happen overnight.
According to the NCR Planning Board (NCRPB), the expansion is for the purpose of promoting a balanced regional development, ensuring that urban infrastructure facilities such as transport, power, communication, drinking water, sewerage and drainage are brought at par with Delhi. These districts can now avail of benefits such as access to funding for infrastructure projects at concessional rates. The move also ensures that these regions will develop a proper master plan conforming to the regional plan and providing scope for the much-needed affordable hous- ing to people.
Ramesh Menon of Certes Realty is of the opinion that these are mere announcements that are not exciting enough for industries to set up shop in these areas.
“These are long term investments. Growth will take place in these pockets only after Gurgaon and Sohna in Haryana or Indirapuram and Crossings Republik in Ghaziabad have realised their full potential,” says Anckur Srivasttava of GenReal Advisers.
Ajay Aggarwal of the Avalon Group, which has several projects in Bhiwadi, Rajasthan, says the city commands a good price in the market primarily due to its proximity to Gurgaon. Comparatively, Bharatpur is located further away. “If ever we decide to launch something in the area we may bring in plotted development, villas or low rise units. An NCR status cannot be the only magnet for investors.”
Navin Raheja says that his company will explore options in the new districts only when some infrastructure work has been done, resources are in place and there is progress on ground. “I do not see immediate opportunity in the area,” he adds.
Lack of coordination between states and poor enforcement of rules has meant that integration within the region has remained a pipe dream. Development, too, has occurred only in selected Alaknanda CR Park Defence Colony East of Kailash Greater Kailash Kalkaji Lajpat Nagar Malviya Nagar New Friends Colony Green Park Saket Okhla Ladosarai