E-ways to al­low Delhi to breathe easy

Fast-track­ing the KMP and KGP projects will ease Delhi’s traf­fic prob­lems and boost bud­get hous­ing in Soni­pat LENGTH 136 km 135 km 70 km COST 4,115 crore 7,558 crore 2,129 crore THE KMP BOT­TLE­NECKS

HT Estates - - NEWS - Van­dana Ram­nani

Some i mpor­tant en­vi­ron­ment con­cer ns will be ad­dressed through three projects worth ₹ 13,802 crore launched in Soni­pat this week. In what can per­haps pro­vide a ma­jor re­lief to the Na­tional Green Tri­bunal, Prime Min­is­ter Naren­dra Modi gave the green sig­nal to the con­struc­tion of the 341-km KundliMane­sar-Pal­wal ex­press­way, the east­ern pe­riph­eral, the KundliG­hazi­abad-Pal­wal ex­press­way and the 12-lan­ing of the NH1, the life­line of north In­dia. To curb pol­lu­tion in the na­tional Cap­i­tal, the green tri­bunal had re­cently di­rected all com­mer­cial ve­hi­cles en­ter­ing Delhi to pay en­vi­ron­men­tal com­pen­sa­tion charge in ad­di­tion to the toll tax. It has or­dered that the com­pen­sa­tion would be payable at the rates of ₹ 700 for two-axle ve­hi­cles, ₹ 1,000 for three-axle and ₹ 500 for four-axle and above. Nearly 66,000 heavy com­mer­cial ve­hi­cles en­ter Delhi daily.

Once the 271-km ring around NCR ( that in­cludes the west­ern pe­riph­eral and the east­ern pe­riph­eral ex­press­ways) are ready, th­ese ve­hi­cles would start us­ing the high-speed link to trans­port goods and not en­ter the Cap­i­tal at all, re­duc­ing pol­lu­tion and de­con­gest­ing the Na­tional Cap­i­tal Ter­ri­tory of Delhi.

Cur­rently, at least two lakh trucks bound for Mane­sar ware­hous­ing fa­cil­i­ties pass through the Cap­i­tal, tak­ing the NH8 be­fore reach­ing their des­ti­na­tion. Sim­i­larly, trucks trans­port­ing goods from Mum­bai and Gu­jarat ports and even from south of In­dia are forced to pass through Delhi be­fore hit­ting the NH1 in Soni­pat dis­trict. While the trucks bound for Mane­sar This pro­ject will now be 6 lane in­stead of 4 lane From Mukarba Chowk (Delhi) to Pa­ni­pat ham­per the smooth flow of traf­fic (mostly tourists and other trav­ellers) to and from Jaipur, heavy ve­hi­cles from Gu­jarat, Mum­bai and south In­dia cause ma­jor traf­fic prob­lems in the Cap­i­tal. That is one of the rea­sons why the much-de­layed KMP and KGP projects have been fast tracked to meet their re­spec­tive time­lines.

Be­sides re­duc­ing pol­lu­tion lev­els, the ex­press­ways will also play an im­por­tant role in ac­cel­er­at­ing eco­nomic ac­tiv­i­ties, de­vel­op­ing ware­hous­ing fa­cil­i­ties and giv­ing a boost to real es­tate de­vel­op­ment in the states they pass through.

Ac­cord­ing to Jas­mine Singh, se­nior director – in­dus­trial and lo­gis­tics, CBRE South Asia Pvt Ltd, the KMP will not only de­con­gest NCR but also re­duce pol­lu­tion in Delhi. It will also lead to de­vel­op­ment of new lo­gis­tics mi­cro mar­kets and re­lo­ca­tion of the cur­rent as­sets, thereby eas­ing the con­ges­tion on NH8.

Once com­pleted, ar­eas around the KMP in­ter­changes will see de­vel­op­ment of large lo­gis­tics parks as well as other com­mer­cial de­vel­op­ment be­cause of avail­abil­ity of large tracts of land at rea­son­able value and faster ac­cess t o t he en­tire NCR mar­ket. Ap­prox­i­mately 5 mil­lion sq ft of lo­gis­tics as­sets are likely to be added in this cor­ri­dor by 2020.

To cite an ex­am­ple, land along NH8 is cur­rently avail­able for ₹ 4 crore per acre and on NH1 at around ₹ 2.5 crore an acre. At the nodal points be­tween KMP and KGP, large tracts of land can eas­ily be bought for any­thing be­tween ₹ 90 lakh and ₹ 1.25 crore, say ex­perts.

Th­ese in­fra­struc­ture projects have been pend­ing for long but will now def­i­nitely get com­pleted. The area will then de­velop quickly as a trans­porta­tion, ware­hous­ing and an education hub. This will lead to job cre­ation, es­pe­cially in fields such as cold stor­age, spe­cific ware­hous­ing op­por­tu­ni­ties etc. Chances of In­dia’s en­tire e-com­merce ware­hous­ing shift­ing to this belt, too, look bright now. All th­ese op­por­tu­ni­ties will also make the area an af­ford­able hous­ing hub and not the in­vestors’ des­ti­na­tion it’s known as, says Pankaj Goel, CMD, Ex­press Ap­proval of the KundliG­hazi­abad-Pal­wal (KGP) Ex­press­way and the green sig­nal to re­sume con­struc­tion on the much de­layed 136km-long KundliMane­sar-Pal­wal (KMP) Ex­press­way will ac­cel­er­ate the eco­nomic ac­tiv­i­ties and pro­vide tremen­dous op­por­tu­nity for real es­tate de­vel­op­ment in Haryana, UP and Ra­jasthan

The orig­i­nal dead­line for the KMP Ex­press­way was July 2009 but the pro­ject was de­layed due to lit­i­ga­tion. The Mane­sar-Pal­wal section of the ex­press­way is likely to be com­pleted by Jan­uary 2016 while the Kundli-Mane­sar section is likely to be com­pleted by Au­gust 2018. M/s Es­sel In­frapro­jects Lim­ited will now be con­struct­ing the Kundli-Mane­sar section

Builders Ltd. Big-ticket pur­chases in the range of ₹ 2,500 per sq ft can def­i­nitely be eas­ily made in this re­gion.

So, will the an­nounce­ments by the PM have an im­me­di­ate im­pact on realty prices? Not re­ally, says Anckur Sri­vast­tava of GenReal Ad­vis­ers. A few years ago there was en­thu­si­asm here be­cause in­vestors hoped that the KMP would be com­pleted and lo­gis­tics parks would come up along­side the ex­press­way. It was ex­pected that im­prove­ment in in­fra­struc­ture would lead to im­proved real es­tate val­u­a­tions. The sub­se­quent de­lays have made in­vestors cau­tious. Hav­ing said that, prices may start im­prov­ing once there is ac­tual work on the ground and time­lines are met, he adds.

Timely com­ple­tion of the KMP ex­press­way is ex­pected to ac­cel­er­ate eco­nomic growth and give a boost to the real es­tate mar­ket in Soni­pat

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