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Impact of infrastructural development on realty market

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Prosperity in any real estate market is directly proportional to its infrastructural development. Roads and highways are the most important infrastructure which lay foundation to the entire development process. The Delhi/ NCR market, post economic slowdown of year 2008, witnessed announcement of many such expressways. This case study is an effort to analyze the impact in the market with a focus on the online search trends.

Published in: Real Estate
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Impact of infrastructural development on realty market

  1. 1. Infrastructure Development and its impact on Realty Market Updated on: June 28, 2016 CASE STUDY SERIES
  2. 2.  Prosperity in any real estate market is directly proportional to its infrastructural development  Roads and highways are the most important infrastructure which lay foundation to the entire development process  The Delhi/ NCR market, post economic slowdown of year 2008, witnessed announcement of many such expressways  Through this case study, we aim to analyse the impact in the market with a focus on the online search trends
  3. 3. Major Expressways Announced in Delhi NCR  1998: Faridabad-Noida-Ghaziabad Corridor (FNG)  2003: Kundli-Manesar-Palwal Expressway (KMP)  2003: Yamuna Expressway  2007: Dwarka Expressway
  4. 4. Faridabad-Noida- Ghaziabad Corridor (FNG) 4-lane 56 km long connecting Faridabad and Ghaziabad via Noida and Greater Noida 1998: Announced but stuck due to political unwillingness 2014: Construction finally started on 19.9 km stretch in Noida- Greater Noida 2015: In July, construction on Noida section almost complete 2015: In November, tender for two bridges on Yamuna initiated; process is expected to complete by mid-2016 2016: In June, NHAI passed proposal to convert non-operational 43 km stretch of FNG corridor into NH. Work to start by January 2017
  5. 5. Property Search Trends factoring FNG Corridor Silence till year 2008 Surged in year 2009 Constant surges from year 2010 onwards Spikes on a regular intervals indicate a diversion of buyers and investors towards FNG The trends clearly show that any development on the corridor has reflected in surge in searches
  6. 6. Kundli – Manesar – Palwal Expressway (KMP) 135.6 km long divided into three sections of 45 km each connecting Kundli and Palwal via Manesar 2003: 1st proposal 2009: Layout, DPR & land acquisition procedures completed. The contract awarded to KMP Expressway Ltd. Deadline – June 2012 2012: 1st deadline missed. New deadline set to May 2013 2015: Multiple deadlines missed. Contract scrapped. Fresh bids invited 2015: January-July, the project converted into 6-lane. Contract awarded to Essel Infra projects for 83.32 km between Kundli-Manesar. Deadline-August 2018 2016: In April, 53 km stretch between Manesar-Palwal opened for public
  7. 7. Property Search Trends factoring KMP Searches in Kundli & Manesar surged in 2010-11 Stabilised post 2012 Manesar saw surge in 2016 Searches in Palwal started rising from year 2012 and still showing upper trends Impact of delayed construction suppressed property searches. Whereas, opening of Manesar – Palwal created positive impact for Palwal Kundali Manesar Palwal
  8. 8. Yamuna Expressway India’s longest 165 km long, 6-lane controlled-access expressway connects Greater Noida with Agra 2003: Yamuna Expressway proposed 2007: Stuck due to Government change & financial infeasibility 2007: In December, development started. Deadline - 2014 2012: In August, project completed ahead of schedule. Inaugurated by CM Akhilesh Yadav
  9. 9. Property Search Trends factoring Yamuna Expressway Property search surged with spike in year 2009. Remained constant till year 2013 with periodic surges Searches rose again in 2013-14 It then slowed down afterwards and remains so till date Significant surge immediately after commencement of construction and completion thereby, indicating direct impact
  10. 10. Dwarka Expressway (NPR) 18 km long and 150 m wide, a high-speed link runs in a smooth parabola from Kherki Daula on NH8 to Dwarka 2007: Project Announced 2010: Only 80% of land acquired to develop 2011: In April, development started for 14 km 2012: Deadline missed to complete 14 km phase. Litigations over land acquisitions 2016: Till January litigations continued. In March, the project got National Highway status, renamed NH-8A Deadline - June, 2017
  11. 11. Property Search Trends factoring Dwarka Expressway Demand for the property around Dwarka Expressway started picking from year 2011 Continued till year 2013 Dipped in 2013 and continues so till date It is evident that commencement of construction impacted in surge of property searches. However, litigations killed the momentum
  12. 12.  Though the Real estate as a sector depends upon many internal and external factors, but infrastructure is one such which determines the future of a particular location and the basics of any infrastructural development start with roads and connectivity. It is thus, said that roads bring life to a location  Unfortunately, roads and highways in our country are themselves struggling to stay alive. As of April 2015, out of all the highway projects around 40% totalling 14,000 km and costing around Rs 94,000 crore were delayed; 70% of these were managed by NHAI and the total cost was close to Rs 80,500 crore  This research report clearly indicates that property markets in and around these highways got instant attention of investors and buyers  However, litigation, roadblock and construction hurdles acted as speed-breakers. Nonetheless, with NHAI's intervention in these highways, things appear to be on right track  As per Mr. Nitin Gadkari, Road Transport & Highway Minister, Government of India, “Road construction in India has accelerated to an all-time high pace of 20 km per day & should reach to 30 km per day in next 5-6 month”. It shows some acceleration in the times to follow
  13. 13. For in-depth report, please contact: info@realtymyths.com

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