Over 70% of work is complete on the long-sought Delhi Mumbai Expressway. The Rs 98,000 crore mega project is expected to start operations in 2023, according to the latest briefings from the Ministry of Roads and Transport in India.
The controlled-access project will span 1,350 km and span 1,500 hectares, seamlessly linking Delhi to Jawaharlal Nehru Port in Navi Mumbai. When completed, the project will divert 50% of the traffic that travels south from Delhi. The highway is among the largest road projects in the world and will involve 80 million tons of cement and 10 million tons of steel.
It is developed under the flagship of NHAI with the help of Special Purpose Vehicle (SPV). The GOI offers institutional support to delimit any negative impact on the environment, promote clean energies and fight against possible climate fatigue. The project will see the planting of “nearly a million trees” on the highway. Highway lighting will be powered by solar energy. There will also be provisions for separate wildlife crossings. Meanwhile, it will also significantly reduce the carbon footprint.
A nuanced yet versatile approach to development
The Delhi-Mumbai highway is an integral part of the government’s vision to create more accessible, sustainable and infrastructure-supported development. It will create strong institutional links between real estate development, infrastructure, agriculture and industrial manufacturing.
It will lead to systematic investments in business parks and clusters, logistics parks and nearby townships. Particular attention will be paid to the development of textile, clothing, chemical and agro-industrial industries in the surrounding area. This will be complemented by the development of large-scale logistics projects to boost trade and exports.
Read also: Why invest in international funds and how to do it
The expressway will also benefit from a few other major infrastructure projects including the Western Dedicated Freight Corridor and the Delhi-Mumbai Industrial Corridor.
The conjunction of these 3 large-scale projects will significantly improve the supply chain and provide unprecedented resilience to the Indian economy.
For the uninitiated, WDFC is an extensive rail network of freight services starting from Dadri in UP and reaching the JNPT port in Mumbai. The project will allow the transport of goods at speeds of up to 100 km/h. DMIC is one of the largest industrial corridors that will connect the nation’s capital to the commercial epicenter of India.
Boost for tangible real estate development
The Delhi-Mumbai highway will bring tangible growth to Indian real estate by providing a solid framework for the development of housing projects, townships, warehouses, commercial properties, etc. It will create the right link between the main stakeholders involved, including developers, government agencies and funding bodies.
The vast highway passes through many upcoming urban corridors such as Jaipur, Kota, Ratlam, Vadodara to name a few. It will also be at an accessible distance from other existing cities such as Ahmedabad, Bhopal, Indore, etc.
Property demand has already started to surge at the entry point of the highway, which also includes Sohna and Faridabad in Haryana. As the project nears completion, the systematic influx of investment into new urban corridors, townships, SCOs, etc. will increase sharply. Meanwhile, as business activities and manufacturing clusters evolve, it will also naturally boost real estate demand in nearby areas.
(By Ankit Kansal, Founder and MD, 360 Realtors)