Namo Bharat Corridor Boosts Real Estate Surge
The launch of the Delhi-Ghaziabad-Meerut stretch of the Namo Bharat corridor has significantly boosted land prices and real estate demand in nearby areas. Improved connectivity is driving more investments in residential and commercial properties, supported by the Meerut Development Authority's land-use plans.
- Country:
- India
The introduction of the Namo Bharat corridor connecting Delhi, Ghaziabad, and Meerut has catalyzed a significant increase in land prices, rising as much as 67% since October 2023, per the National Capital Region Transport Corporation (NCRTC).
Land rates near operational Namo Bharat stations have climbed from approximately Rs 8,000 - Rs 12,000 per square yard to Rs 12,000 - Rs 20,000. The 82-kilometer corridor has not only improved connectivity but also redefined Meerut as a burgeoning real estate hub.
NCRTC's transit-oriented development strategy aims to promote vibrant communities and polycentric growth in the National Capital Region (NCR). Rising demand for development in Meerut is being propelled by burgeoning education hubs and employment opportunities, now supported by the region's Master Plan for 2031.
(With inputs from agencies.)
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