India’s National Capital Region (NCR) is witnessing unstoppable development activities. Residential, office and retail units are coming up at a feverish pace as the economy is projected to become the second largest after China with GDP growth of 7.5% in current fiscal year. The NCR is the name for the metropolitan area covering the entire national capital territory of Delhi as well as urban areas ringing it in neighbouring states of Haryana, Uttar Pradesh and Rajasthan.
The concept of NCR was termed under Delhi’s first master plan in the year 1962. The aim was to develop a metropolitan area around Delhi to divert increasing pressure of population from the region. The concept was essential in order to protect Delhi’s infrastructure from excessive pressure and a planned development of the region. With constant growth throughout, the last decade brought rapid development of areas including Dwarka in Delhi, some sectors in Noida, Indirapuram, Vaishali and Vasundhara in Ghaziabad, and the famous Golf Course Road in Gurgaon. In the coming decade, many new locations are rising as hubs of real estate action.
The big push in availability of residential apartments and independent floors in the NCR will come from Delhi, which has never seen high-quality construction by private developers as the Delhi Development Authority (DDA) was the sole developer in the region. However, recently private developers have started to construct apartments in Delhi and neighbouring areas at a mind boggling pace. These new generation apartments have modern facilities and amenities such as swimming pools, gyms, elevators, power backups, retail complexes and security systems.
In Gurgaon, areas such as sectors 102 to 113 will be the new centres of development. The Metro Rail which was recently launched from Gurgaon this month, will provide easy access to Delhi. The nearby areas including the domestic and international airport are expected to transform the location. Also the Golf Course Extension has immense potential for growth in.The sector roads are expected to be built soon and extension of Metro Rail line as per the Master Plan will further enhance its connectivity.
In Noida, many sectors along the expressway are currently seeing a slew of construction activities. More new projects have been launched after the Metro Rail started .Even Greater Noida has emerged as an education city with the establishment of several private Universities. It also has multiple expressways planned. In addition, considerable social infrastructure is expected to come up over the next five years including a night safari resort and Formula 1 race track. There is also a possibility of setting up an airport in the vicinity.
Faridabad which was earlier ignored by investors and developers has suddenly witnessed an upsurge in commercial and residential properties that are still available at affordable rates and there is ample land available for development. Areas such as Neharpar and Greater Faridabad are being developed as residential hubs. With the construction of the Badarpur flyover and Metro Rail link, developers have woken up to Faridabad’s immense potential.”In the next seven to eight years, Faridabad will have better infrastructure facilities, improved connectivity and affordability,” says Ashu Singh of Konstruct Properties. “It will be an ideal destination for investment and preferred by the next generation of professionals.”
With, such extensive infrastructure projects proposed and commonwealth games coming up, the plan will be a boon for Delhi to live up to its expectations of a world class city once these projects are transformed into a reality. Till then, Delhi’s residents are in for a nightmare, to face the perils of extensive construction, stoppages, traffic jams and ever increasing population of the NCR.