KMP EXPRESSWAY: EMERGING HOTSPOT FOR REAL ESTATE

The KMP (Kundli-Manesar-Palwal) Expressway is one of the most significant transport corridors in the NCR (National Capital Region) and is expected to boost the prospects of real estate on the corridor significantly. 

The Kundli-Manesar-Palwal (KMP) Expressway will improve connectivity to a number of areas in northern, western and southern parts of the NCR. It will provide connectivity to developing areas like Kundli, Sonipat, Manesar, Gurgaon, Faridabad and Palwal. Several leading developers like Parsvanath, TDI and Ansal API have projects under construction along this corridor. 

 Puneet Jain of Property Guru Pvt Ltd said that the delay in the expressway has affected the realty market. Sushant City by Ansal API started giving possession of flats in 2009; yet, some of the units are still unoccupied. Kingsbury by TDI is another completed project in Kundli, where so far, 150 families have started living. The mall in the township TDI City is also expected to give possession in the next two-three months. Jain says “Once the expressway becomes functional, property rates will increase dramatically.”
The KMP Expressway, which is being built by the DS Construction Company, has been divided into three sections of 45km each crossing the National Highway. This internationalclass project will intersect four existing national highways and key railway lines, ensuring better connectivity across the NCR.
It will act as a bypass for traffic coming from north of Delhi on NH-1 and going to south of Delhi on NH-2. It will also provide faster access to the international and domestic airports for cities in Haryana. It crosses NH-1 near Kundli, NH-2 at Palwal, NH-8 at Manesar and NH-10 at Western Bahadurgarh.
Also known as the Delhi Western Peripheral, the Expressway is 135.6km long and is being constructed in Haryana under the 21-year plan. It has brought in many investors into the market. These investors are investing in commercial as well as residential projects on both sides of the expressway.
In Kundli, after the commencement of work on the Expressway in 2007, land
prices increased from Rs 25 lakh per acre to almost Rs 1.5 crore per acre. However, because of the unprecedented delays and numerous missed deadlines, realty market on this stretch too is stagnant at present.
Rising property prices within Delhi has pushed a significant number of buyers towards the periphery. Moreover, with employment opportunities expected to be available in these new industrial cities, people are expected to shift into the Kundli area.
Deepak Agarwal of Property Mart says that developers like TDI, Ansals and Omaxe have come up with megaresidential and commercial projects close to the expressway to cater to future needs. According to KK Associates, the capital value of residential projects coming up here would be in the range of Rs 5,500 per sq ft while the capital value of commercial projects would be in the range of about Rs 3,500 per sq ft.
With good transport and road facilities, hospitals like Medicity are opening their branches within 5km of localities present here. Schools like K R Mangalam, Amity International and DPS have opened their branches near these localities.
KMP Expressway will also soon get one of the largest largest exhibition-cum-exposition centres, which would be planned over 200 acres and would be located at Pachgaon Chowk, close to the industrial township of Manesar in Gurgaon.
Yadav Kumar of K K Associates says: “With many investors and developers coming up, investment in this area will guarantee 100% return within the next onetwo years.Investing here would be more beneficial than investing in stocks or fixed deposits in banks.”
IN KUNDLI, AFTER THE COMMENCEMENT OF WORK ON THE EXPRESSWAY IN 2007, LAND PRICES INCREASED FROM RS 25 LAKH PER ACRE TO ALMOST RS 1.5 CRORE PER ACRE

(Article Source : Times of India) 

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