DMIC Project to transform the real estate market of its adjacent areas
The Central government’s most ambitious infrastructure project, Delhi – Mumbai Industrial Corridor (DMIC) is a planned industrial development project between India’s capital city, Delhi and financial hub Mumbai. The 1,483 km long corridor is spread across six states, namely Uttar Pradesh, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Haryana. It aims to develop a few industrial cities adjacent to the project.
The government has planned 13 industrial and 11 investment zones along the entire length of this corridor. As per Colliers International India, the aim of the government is to boost development along major urban centres like Mumbai and Delhi. The cities close to these states will benefit through this, as it going to generate job employment and will also help in the overall development of the areas.
The first phase of the project is planned in Dholera in Gujarat, Shendra-Bidkin in Maharashtra, Vikram Udyogpuri in Madhya Pradesh and IIGNL in Greater Noida, Uttar Pradesh. Investments in these areas are focused on the Industrial and Manufacturing units. Industry experts are of the view that the project aims at developing industrial cities into the smart cities.
Talking about the development of these areas, Mr. PK Alok, Advisor, WTC Noida shared his views on the line and said, “The development along the lines of Delhi Mumbai Industrial Corridor (DMIC) which is India’s pioneering infrastructure programme is aiming to develop industrial cities as smart cities. It has already given birth to hubs like the Mobile Open Exchange (MOX) in Greater Noida, which will drastically reshape the Electronic System Design & Manufacturing (ESDM) sector in the country and will attract investments in various areas to foster growth and development. The iconic World Trade Center Noida (WTC Noida) in the MOX region is one example of such development as DMIC’s geographical viability promises to convert the regions along the corridor as a “Global Manufacturing and Trading Hub.”
Conceived as a global manufacturing and trading hub, the project is expected to double industrial output in the adjoining areas. There are areas which will highlight development. Explaining about the areas which show development, Mr. Ravish Kapoor, Director, Elan Group said “Sohna is emerging as the realty destination of Gurugram. It is accessible from all major cities of the Delhi- NCR. Rapid urbanization and incessant migration of workforce from surrounding states have created tremendous demand for the area. The area has many educational institutes, health centres and business hubs which attracts investors towards here. With this belt coming directly on the 1,485 km-long Delhi-Mumbai Industrial Corridor (DMIC) will further increase demand for the area. The future of this area is excellent and buyers will invest here for sure.”
Thus, India’s pioneering project will spur the demand for the residential as well as commercial projects along the corridor. Being pegged as India’s biggest infrastructure project with an estimated investment of approx $100 billion, the DMIC will also leg-up to the government’s ‘Make in India’ campaign. It is being estimated that the project will bring about a positive change in the lives of millions of people.