DME to push up housing demand in NCR, say realtors

Meerut: With the 82-km-long Delhi-Meerut Expressway (DME) being thrown open to the public on Thursday, the real estate sector expects a major boom in the National Capital Region (NCR). The project will make way for a better infrastructure and boost demand for housing as commuting time is set to come down to less than an hour at present and eventually, 45 minutes, said real estate players.

“The biggest advantage of the DME is the reduction in commute time from over two hours to just 45 minutes. It will also open up the market for home buyers who may be working in Delhi but want to stay in Meerut. The pandemic has created a need for more and more people to purchase their own homes. The fact that one can buy a home at a far lesser cost than Delhi-NCR and yet be in the capital city limits within 45 minutes’ drive time, will be a big boon for real estate development,” said Manish Aggarwal, managing director, North & East India, JLL India.

“Road network is one of the key factors that helps in boosting the growth of real estate in any city. Infrastructure and road development makes way for good connectivity of a location, civic amenities and social infrastructure facilities such as schools, colleges, healthcare, entertainment, dedicated water, electricity supply and public gardens. Also, we have always observed that not only do people give preference to the project at such locations but the resale value of houses in such areas increases,” said Punit Agarwal, MD and CEO of Nirvana Realty.

Rajendra Agarwal, BJP MP from Meerut, said, “The DME will bring development not only in Meerut but across west UP. This will boost investments in Meerut and NCR as more companies would like to open their offices and stores here.”