Proposed Delhi-Jaipur expressway spikes up land prices
With the government and NHAI focusing on expediting the construction of expressway between Delhi-Jaipur, the land prices of the areas surrounding areas the highway have spurt up by nearly 40 per cent. The area that have witnessed 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.
This proposed six lane expressway 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.
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 presence in this region.