Delhi-NCR region’s emerging corridors
In the wake of the looming exhaustion of development potential in the sprawling suburban areas of Noida, Gurgaon, and Ghaziabad, real estate action is increasing shifting to some new emerging corridors in the Delhi-NCR region.
The growth of satellite towns as well as other suburban areas of the NCR region is essentially an upshot of the fact that the property costs in these areas are fairly affordable. In addition, these areas also have convenient connectivity with Delhi; along with fast-developing infrastructure, and the availability of capacious and well-equipped residential units.
Another reason for the increasing property demand in the suburbs of the NCR region and satellite towns is that the real estate prices in Delhi, Gurgaon, and Noida have increased exorbitantly. Moreover, there is also a dearth of residential units for accommodating the fast-growing population of migrants from other cities.
In connection with the evident emergence of new corridors in the Delhi-NCR region, Amit Mavi – the MD of a real estate consultancy – said that the realty sector in India’s capital region has undergone a significant change in the last ten years. According to Mavi, the main catalyst for the emergence of new corridors is the disproportion in the demand-supply equation in recent years.
Mavi also added that the emergence of new corridors in the Delhi-NCR region has resulted in “the inclusion of new urban agglomerations to keep pace with the rising demand for real estate asset classes. The new master plans are also a reflection of the same phenomenon.”
Source: Times of India (Delhi)
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