Commuting to and from Gurugram and Dwarka Expressway in National Capital Region is expected to improve further as Union Cabinet on Wednesday approved metro connectivity from HUDA City Centre to CyberCity with a spur to Dwarka Expressway, Gurugram.
“It will help Gurugram and adjoining areas to have better infrastructure which will help industry to grow and that in turn will have the potential to provide 17 lakh employment by 2030-21 from 6.25 lakhs in 2019-20,” Union Commerce andIndustry Minister Piyush Goyal said in a press conference to announce decisions taken by the Union Cabinet.
The total project cost would be over ₹5400 crore which will be shared by Centre and State government along with external assistance. Loan is being tied up with European Investment Board (EIB) and World Bank (WB). The government aims to complete the project within four years from the date of sanction of the project. Daily ridership is estimated to go to 7.26 lakhs in 2031 and further to 8.81 lakhs in 2041. “Since the entire stretch is elevated, land will not be big issue. Also, required land is being provided by State government,” Goyal said.
As on date, there is no metro line in Old Gurugram. The main feature of this line is to connect New Gurugram with Old Gurugram. This network will connect with Indian Railway station. In next phase, it will provide connectivity to IGI airport. This will also provide overall economic development in the area.
The project is expected to have a big impact on real estate besides local economy. Pradeep Aggarwal, Chairman of Signature Global said, ”This development holds tremendous potential, particularly for the real estate sector around the Dwarka Expressway and New Gurgaon, as it will receive a significant infrastructure boost. The commencement of this metro connectivity will create numerous investment opportunities and generate employment, thereby fostering growth in the real estate sector of Gurugram.”
Echoing the same sentiment, Mohit Jain, Managing Director with Krisumi Corporation feels the new project holds great promise, particularly for the real estate industry surrounding the Dwarka Expressway and New Gurgaon, as it is poised to receive a substantial enhancement in infrastructure.
“Over the past few years, the Central Peripheral Road along Dwarka Expressway has witnessed remarkable growth. With the completion of Dwarka Expressway nearing its final stages and the announcement of metro connectivity, the demand for residential properties is expected to witness a further surge from both end users and investors alike,” he said.