How Delay In Connectivity Can Hard-Hit Real Estate?


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    In 2007, NCR residents were promised a signal-free connect between Delhi and Gurugram. As a result of the announcement, a spree of real estate projects propped up in the locality in both affordable as well as the luxury groups. However, 11 years down the line, it seems to be a far-fetched dream as there is still no clarity on when the project will be completed.

    Although Huda has handed over a part of the land lying between Delhi and Gurugram to NHAI recently, the rain reportedly had paused the construction work and the project has seen a little progress over the last few months. Despite the announcement made by  Union minister Nitin Gadkari in April that the expressway would be ready in one and a half years, it seems to be unlikely that construction will be completed any time soon.

    The major hiccups in the expressway are the structures falling in the alignment of the expressway in Kherki Daula and the high-tension power towers between sector 102A and 88. No wonder, the delay has miffed home buyers who have invested their hard-earned money in different housing projects along the expressway.

    “The government has delayed the project for nearly 11 years, putting the development of Gurugram on hold,” Praveen Malik, a homebuyer from Sector 92 told ET Realty. “Hundreds of people invested their money here, expecting speedy completion of Dwarka Expressway.”

    Several homebuyers have invested in residential projects in Sectors 80-115 along the 18-km-road, also known as Northern Peripheral Road (NPR), in Gurgaon. A 16.5km stretch of the NPR is complete, but the road is not operational end-to-end in Delhi and Gurgaon due to litigation.

    Elsewhere in MMR, CSMT-Panvel elevated corridor and Panvel-Virar corridor has got the real estate market in Navi Mumbai worried. More than 80,000 1bhk flats were launched in Raigad (Navi Mumbai area comprising of Panvel, Kharghar, Khopoli,  Taloja, Dronagiri, Karjat, and Neral belt) in last one year, out of which around 22,000 flats were booked, DNA reported.

    However, since the place is not yet connected, it is feared that buyers won’t be ready to start living there even if they are given possession. In fact, realty experts fear that the area just might become a ghost town.


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