Residential Projects: Along NCR Expressways

Bangalore: The highways ministry has come up with a proposal to allow residential and commercial structures to be built close to expressway. The first such trial model is likely to be tried along the Delhi-Jaipur stretch, reports TOI.

As per the proposal, the government will acquire the land for the development of expressways as well as provide facilities along the alignment, whereas the private real estate players ought to get land in the surrounding area to develop real estate projects. And as per government calculation, the construction of expressways would cost around 40 crore and 50 crore per km.

The ministry in an effort to promote the Greenfield expressway between Delhi and Jaipur, suggested this proposal to top highway developers at a meeting in Delhi.  Similar to the first model, UP is also coming up with such project along the Yamuna expressway which connects Noida with Agra.

According to sources, this model could probably be a good revenue generation source considering the growth of real estate sector in the NCR region. With this proposal the ministry is looking forward to drive the economic growth by permitting construction of residential and commercial complexes along the expressways.