Facts on the nh24 pro­ject

HT Estates - - FRONT PAGE -

What about the NH24 widen­ing pro­ject? The over 80 km pro­ject will be un­der­taken in four parts – Niza­mud­din Bridge to the UP Bor­der, from there to Dasna and on­wards to Hapur and Meerut. The cost of the en­tire pro­ject en­tire ro­ject is es­ti­mated at ₹ 7,566 crore

The land ac­qui­si­tion is­sue: The ex­pan­sion of the Delhi-Hapur stretch will be im­ple­mented through the hy­brid an­nu­ity model which is an­other vari­ant of the pub­lic private part­ner­ship model. This model helps in elim­i­nat­ing de­lays in com­ple­tion of work

Con­sis­tent de­lays and time­lines: As for com­ple­tion of the NH24 pro­ject, it will take about three years to build. It’s likely to be com­pleted by the end of 2018. As of now it has missed sev­eral dead­lines and has been de­layed for over six years now

Res­i­den­tial mar­kets that will ben­e­fit: Only ar­eas that have ready-to-move-in units and are priced in the range of ₹ 3,500 to ₹ 4,000 are likely to see some amount of price ap­pre­ci­a­tion com­pared to es­tab­lished mar­kets such as Indi­ra­pu­ram or Vaishali in Ghazi­abad or Pat­par­ganj or Mayur Vi­har 2 in Delhi

Im­pact on prop­erty val­u­a­tions: There will not be much im­pact on real es­tate prices in the next 12-18 months. Ex­cite­ment has yet to build up over the NH24 story yet as ev­ery­one is wait­ing for ac­tual work to be­gin on the ground but once the pro­ject is com­pleted it will im­pact cer­tain mar­kets

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