SECTOR TO BENEFIT FROM THE NEWLY INAUGURATED AGRA – LUCKNOW EXPRESSWAY
It is true that infrastructure serves as the backbone for the real estate sector of any region and the landscape of Western Uttar Pradesh’s realty sector is expected to achieve newer heights as the much awaited Agra – Lucknow Expressway has been formally inaugurated. With the rising demand for tier 2 & 3 regions, this infrastructural development will allow untapped regions of the Western U.P. to come into the limelight and further promote the real estate prospects in those regions. Apart from developing various regions along the expressway, this roadway will also allow the commuters to save a lot of time while travelling and also help in decongesting the traffic on the alternate route.
Ashok Gupta, CMD, Ajnara India Ltd. explains the importance of infrastructure that a robust infrastructure system ensures that we are able to move goods and services, but also people in the most effective possible way which helps in enhancing their efficiency. Infrastructure is significant for economic growth, employment opportunities and access to markets and services. This high speed Expressway will not only allow smooth travel options but will on the other hand open up new doors for infrastructural developments around the stretch.
The Agra – Lucknow Expressway will now serve as a seamless connecting link not only between Agra and Lucknow but also between Delhi and Lucknow. The travel time between Agra and Lucknow has been reduced from the usual 7 hours to 3 hours now and between Delhi and Lucknow has been reduced from the usual 9 hours to an astonishing 6 hours for now making it almost equivalent to rail travel. The entire stretch which is 6 lanes broad, spans over a distance of 302 Kms and has been built in a record time of 23 months by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) at a cost of INR 13, 200 crores which was stipulated to go as high as INR 15, 000 crores.
Emphasizing on the positives of Agra-Lucknow expressway, Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group says, “The regions along the newly inaugurated Agra – Lucknow expressway will be the new hotspot investment destinations in the coming future enjoying excellent road connectivity along with rail and waterways. The wave of development will rise to encapsulate not only infrastructural development but a holistic growth and once the expressway will be fully operational it will add to the attractiveness of the region eventually leading to the boost in the realty aspects of the region.”
The expressway is designed to support speeds up to 120 Kms per hour and will have automatic traffic management systems aimed at reducing road accidents and helping even at the time of dense fog. There are plans to expand this expressway into 8 lanes and in order to facilitate this, all the bridges and underpasses have been made 8 lanes. This will also help avoid traffic congestions and bottlenecks. It also includes 4 rail over bridges, 57 minor bridges, 13 major bridges, 9 flyovers, 148 pedestrian underpasses and 74 vehicular underpasses. This expressway will be connected to the much hyped Yamuna Expressway via an Agra Ring Road. It covers 10 districts, 236 villages and 3, 500 hectares of land. It connects Agra and Lucknow via Shikohabad, Firozabad, Mainpuri, Etawah, Auraiya, Kannauj, Kanpur Nagar, Unnao and Hardoi.
Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz says, “With the construction of this ultra-modern Expressway, cities situated in and around this will open up new doors for industrial corridors in these regions. It’s a proven fact that with the better connectivity and good road networks, chances for development and growth of the regions increases. We have great expectations with these projects as we see lot of scope of realty development in the regions coming under these road projects.”
Highlighting the connectivity feature even further, the expressway passes through 2 State and 4 National Highways, and 5 major rivers namely; Ganga, Yamuna, Isan, Sai and Kalyani. A green belt is also being developed on the sides of the Agra – Lucknow Expressway by planting trees on either sides and plants in the median as well. There are provisions of a 3.3 Kms dedicated stretch which has been purposefully built on the expressway for jets to land and take-off in times of ‘war-like emergencies’.
Ashwani Prakash, Executive Director, Paramount Group told that no doubt with the construction of such road networks, regions lying in the stretch of these highways and expressways will have improved connectivity and infrastructural development will get a boost as well. The scope of development of the regions in and around these projects is enormous and future will see vast real estate growth in these areas. Not just this, there is a huge opportunity for the setting up of industrial corridors and foreign investments along these highways and expressways due to connectivity benefits and transportation facilities.
Boost To Realty
With the saturation of major tier 1 cities in NCR, stakeholders, developers and buyers are looking out for options in tier 2 & 3 cities. The development in those regions is bound to be better as they are gifted with modern day architecture, equipments and manpower. Even in case of Agra – Lucknow Expressway, development along the corridor will allow the realty prospects to increase manifolds over the years. As the movement and footfall on the expressway will increase, the realty sector will chip in gradually; as was the case of Yamuna Expressway as well.
Vikas Bhasin, MD, Saya Group says, “Delhi is already paving its path towards a saturation point, with the regions around national capital having sky touching property prices, the regions lying near this project will be bonus additions for home buyers looking for properties at affordable rates. There are lot of growth prospects in these regions once the projects are accomplished and the real estate sector of these areas too are anticipated get a big boost.”