To ease traffic congestion in the NCR, PM Narendra Modi has recently inaugurated the Western Peripheral Expressway or Kundli-Manesar–Palwal (KMP) Expressway. The 135.6 km long, 6-lane Expressway starts from Kundli which is near Sonipat and linking to Palwal near Faridabad via Manesar which is near Gurgaon.
However, many experts predict that the expressway will not just cut the travel time but will also boost the real estate market of the adjacent regions. Recently, the Haryana Government has given approval for the development of five new cities along Kundli-Manesar-Palwal (KMP) expressway. These cities will be developed in an area of 50,000 hectares on each side of the 135 km long expressway. It would cover the property market of eight districts of the state namely Sonipat, Rohtak, Jhajjar, Gurugram, Rewari, Mewat, Faridabad, and Palwal.
According to a realty expert, “The KMP Expressway links three States and four highways and will lead to considerable growth in surrounding areas from a real estate perspective. Also, the New Gurgaon stretch will greatly benefit from the development of new industries, commercial hubs, and residential real estate growth.”
Apart from New Gurgaon, the state government has also proposed several infrastructural developments to boost the real estate. For instance, Manesar which is well-connected to New Gurgaon is already growing into a major residential hotspot. On the other hand, Kundli will soon have a metro railway link as Delhi Metro is all set to expand its line. This will further lead to the creation of 1.52 lakh jobs in the region.
Other areas like Sector 82-83 may also see a boom in their respective real estate market. Both the sectors will benefit hugely due to the connectivity offered by the expressway, rapid development of infrastructure, several residential and commercial projects, educational institutions and other industrial centres.