Govt may allow residential projects along expressways

2012-02-21 06:46:31

The highways ministry is considering to link the development of capital intensive expressway projects with real estate development in their vicinity. The ministry has mooted the proposal to allow residential and commercial complexes to come up close to the expressway alignment and the first such model could be tried on the Delhi-Jaipur stretch.

However, while government will acquire the land for construction of expressways and allied facilities along the stretches, private players will have to get land in the vicinity for real estate projects. Government estimates suggest that construction of expressways would cost between Rs 40 crore and Rs 50 crore per kilometer.

The ministry put these proposals before top highway developers at a meeting held recently in the capital to push the greenfield expressway between Delhi and Jaipur. This stretch is likely to be a 230-km expressway and would be completely access controlled. A similar model is being tried by Uttar Pradesh government in the case of Yamuna expressway connecting Greater Noida with Agra.

Sources said that considering the high potential of real estate sector in the national capital region (NCR) to generate revenue, this model could work. The ministry had been mulling over the idea to provide access to residential and commercial complexes along the proposed alignment to push economic development in adjacent areas.

The government has approved the construction of 1,000km expressway under NH Development Programme-VI. These include Vadodara-Mumbai (400km), Delhi-Meerut (66km), Kolkata-Dhanbad (277km) and Bangalore-Chennai (334km). In the 12th Five Year Plan (2012-17), the ministry plans to construct another 500km expressway which includes the Delhi-Jaipur stretch.

Real Estate Noida
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