With the government and NHAI focusing on expediting the construction of the expressway between Delhi-Jaipur, the land prices of the areas surrounding the highway have spurt up by nearly 40 percent. The areas that have witnessed a sharp rise in realty prices are Manesar and Rewari in Haryana and Ajeetgarh and Neemrana in the state of Rajasthan. But NHAI is yet to acquire land for this project.
Although, the highway was proposed in 2013, not much progress was made due to land acquisition hurdles. It is not the first time that with such news the real estate prices have shot up when road development projects are proposed as it leads to improvement in infrastructure and connectivity.
The Delhi-Jaipur Expressway is proposed six-lane expressway which will reduce the distance between the two cities by almost 40 km and reduced the current travel time of 4 to 6 hours to around 2 hours. The 235 km long express highway will run through the Rajasthan, Haryana, and Delhi and will occupy some section of National Highway NH8.
This new expressway’s need was felt due to insufficient roadways to connect Delhi to the states of Rajasthan, Gujarat and the business capital Mumbai. We believe this spurt in land prices is positive for real estate players like DLF and HDIL who have the presence in this region.