Ghaziabad real estate to get a boost by Northern Peripheral
Ghaziabad- Northern Peripheral road connecting NH-24 with North Delhi is expected to boost up the real estate business by about 10 to 15 percent.
Ghaziabad Development Authority (GDA), in collaboration with Central Road Research Institute (CRRI) planned the road project and the estimated budget for this project is Rs 440 crore. It is expected to be completed by 2014. Once operational, the road will divert Delhi-bound traffic from the city roads.
The GDA and CRRI had proposed a comprehensive mobility plan in 2010 in which the Northern Peripheral was a part. The elevated road connects NH 24 near Dasna to NH 58 and Wazirabad Road in Delhi through Loni.
By solving the logistics problems faced by the local industries, the project is likely to help the Delhi economy to grow. The real estate in Delhi is expected to rise by an additional of 10 to 15 percent. Around 35 percent of the net traffic of Ghaziabad will be diverted if the Northern Peripheral becomes operational. The Northern Peripheral would rise the realty prices in Loni region by about 50 percent from the current levels.
The road would connect cities like Sonipat and areas such as Narela and Bawana with Ghaziabad. It would connect Meerut Road and Dehradun directly with Delhi. Metal industries located in this region will be well connected to steel and other allied businesses of Ghaziabad.
Sonipat is a hub for stainless steel utensil manufacturing and it adds around Rs 800 crore per annum to the city’s economy. With the development of the Northern Peripheral, Sonipat will have easy access to Ghaziabad, which is another hub for steel and its allied industries by which the business can go up and Sonipat can reach the Rs 1,000-crore mark.
GDA has planned to develop IT and IT-enabled hub in Ghaziabad and it is essential to consider the commuters coming from Noida to Ghaziabad, because Noida is an IT hub and a majority of the companies would relocate to Ghaziabad from Noida. The authority should also start planning Yamuna Bridge to connect Sonipat and Ghaziabad.
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