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Real Estate >> News
Rapid Growth of Residential Complexes in Delhi and the NCR
By
siliconindia
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Tuesday, December 3, 2013
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Delhi : Construction is at an all-time high and continues unabated, be it of residential complexes, offices, shopping malls or infrastructural projects such as expressways, Metro track lines and elevated corridors. All these have greatly contributed to the image of Delhi and the NCR as having one of the best infrastructures in the country. While the model of the Metro is being adopted in several other cities, looking at its immense success in Delhi, highways and elevated corridors have also boosted connectivity and reduced the travelling time between destinations.
A recent example is the Yamuna Expressway which fulfils the criteria for being hailed as one of the best infrastructural feats in India. The development of the Metro linking various parts of Delhi and the NCR including Noida, Gurgaon and Ghaziabad has been a boon and the development in the NCR also has been nothing short of exceptional. All these have provided greater comfort and connectivity to the people.
The success of such infrastructural products has been captured by real estate developers who have been grabbing opportunities to construct residential hubs in these well-connected areas. The construction of these projects including those of shopping malls has also initiated a demand for residential construction around the land surrounding these areas. For instance, massive developmental activities are also underway in the satellite towns of Panipat, Manesar, Bhiwadi, Kundli and Sonipat due to the proposed construction of the orbital rail corridor as well as the Kundli-Manesar-Palwal (KMP) Expressway.
Development in such far-slung areas is all an impact of the rapidly progressing infrastructural prowess of the region and as such has contributed greatly to the upliftment of Delhi and the NCR. It has provided greater choice, amenities and feasibility to the customers and has aided in a planned and structured development of the city.
However, there are other regions of the NCR where infrastructural growth has been slow, but tremendous potential exists for the development of residential properties. Only time will tell if this potential is exploited and if the infrastructural growth catches up to allow these areas to thrive.
The upcoming areas of the Dwarka Expressway and addition of new sectors on both the sides of NH-8 up to Manesar are covered in the Master Plan 2021. As a result, development of infrastructure in these sectors is now being taken up actively in order to support the large residential projects that are expected to reach completion within the next 3-5 years. However, in spite of this forward looking approach caused by capacity building and future planning, what remains to be seen is whether the upcoming urban growth will be supported sufficiently by the necessary infrastructure. Fundamentally, while the Master Plan is a plan stating what is intended to be accomplished, it is not a time bound guarantee. However, it is hoped that with the elections around the corner and the promise of a change in the air, the increased focus on development by political leaders will lead to timely implementation of the master plans.
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