NRP Desk
Lucknow: LAND PRICES and housing demand have increased along the Delhi-Ghaziabad-Meerut stretch of the Namo Bharat corridor, with data from developers and consult ants showing a 30% to 67% rise in property value since it began operations in October 2023.
The Namo Bharat corridor, built at a cost of 30,274 crore, connects Delhi to Meerut through Ghaziabad. It is the first of several Regional Rapid Transit System (RRTS) lines planned across the National Capital Region (NCR). The 82-km line is currently operational over a 55-km section. “When the Namo Bharat project was conceptualized, one of the aims was to enable poly-centric development in the NCR We are also harnessing the potential of Transit-Oriented Development (TOD) in the region to foster vibrant, livable com-munities,” Shalabh Goel, managing director of the National Capital Region Transport Corporation (NCRTC), said. The city that seems to have benefited the most is Meerut, where land rates have reportedly increased from 18,000-12,000 per square yard to 12,000-20,000. Properties within two kilometers of Namo Bharat stations have seen a 30% to 50% increase in value in the last two years, according to market estimates. Developers said there has been growing interest in plotted housing, gated societies, and mid-rise apartments in parts of Meerut and Ghaziabad. “Property prices in areas along the RRTS route have appreciated by 35-40%, reflecting a structural shift driven by infra-structure-led demand… Meerut is fast positioning itself as a credible alternative to legacy NCR markets,” Pritam Mishra, senior vice president at Paras Build tech, said. Real estate firms said residential development is being accompanied by commercial activity. with integrated townships, health-care facilities and educational centres being planned within walking distance of transit nodes.
