The new financial corridor involving Delhi and Dehradun was announced by the Union Minister of Road Transport and Highways Nitin Gadkari in February. The 210-kilometer, six-lane express highway project, which is anticipated to be awarded by August 2021, will be completed by 2023. The Delhi-Dehradun Expressway will decrease travel time from the national capital to Dehradun from 5 to two hours.
A new six-lane road will be constructed from the Sahranpur bypass to connect with Haridwar in the new financial corridor. This route would reduce the current six-hour journey time involving the national capital and Haridwar to just two hours. The actual estate sector on the stretch is going to advantage from the improvement, and realtors are upbeat about the improvement.
“Delhi-Dehradun Expressway is going to benefit real estate on the stretch; it will make more reputed developers come up with projects in tier II cities falling on this stretch as many buyers would love to have homes at places where prices are little less than Delhi. The travel time matters these days, and only 2.5 hours to Dehradun will help people buy second homes or holiday homes in this Hill city,” says Harvinder Singh Sikka, MD, Sikka Group.
Real estate improvement along corridors has grow to be a trend and gives a lot of prospective across India. Transport corridors like National Highways and State Highways across India have witnessed considerable realty improvement in the course of the actual estate boom. The government has also helped in boosting and advertising industrialization in these regions. A mixture of production units, public utilities, logistics, environmental protection facilities, residential regions, social infrastructure, administrative services and couple of industrial regions has been systematically planned along the corridors. These have additional helped and accelerated financial development.
Haridwar is one of the well-liked destinations, which will advantage from the Expressway. The city is currently on the radar of persons searching for vacation properties, and now more persons will invest there. “People have always been worried about the time taken to move from Delhi to Haridwar, but with this Expressway, the frequency of travel will increase. The serene atmosphere of Haridwar helps people rejuvenate and get charged up for the hectic professional life. We hope that work completes on time, and with this real estate around this Expressway will prosper, which will add value to people’s lives,” says Nagaraju Routhu, CEO, Hero Realty.
Talking about the improvement, Abhishek Bansal, Executive Director, Pacific Group, says, “Weekend travels to Dehradun mean that retail sector, especially, malls will benefit from it. People love to shop and enjoy at places that are away from their work cities, and with only 2.5 hours of travel, people would throng Dehradun for the perfect getaway that it promises. We foresee a new wave of mall culture in the city as there would be a huge increase in footfalls, especially on weekends.”
Another enhance for the actual estate in Uttarakhand is the Metro rail corridor planned from Nepali Farm to Vidhan Sabha in Dehradun district. The 73-kilometer Deharadun–Haridwar–Rishikesh Metro Rail corridor in Uttarakhand was authorized by the Unified Metropolitan Transportation Authority (UMTA) in June 2020.