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The infrastructure of any given region largely determines the growth potential of the area. The real estate industry also rides this growth, as the property prices keep increasing. Improvements in infrastructure projects enhance the accessibility of different regions. Besides, new employment opportunities are generated with the growth in infrastructure. It’s no wonder that the key cities in India undergoing development in infrastructure have bustling real estate industries. The development of bridges, highways, transportation systems, and commercial prospects drive real estate growth.
The union budget announced in February has strengthened this path for the growth of the real estate industry. The CAPEX in India underwent growth by a factor of five between 2013 and 2014. The government also has plans to invest INR 110 trillion for the development of the National Infrastructure Pipeline.
Interestingly, over 4% of the GDP in India is invested in the development of infrastructure. This significantly leads to the rise in value of real estate properties located nearby. Investors can benefit from property price appreciation since the connectivity, accessibility, and living standard gets a boost. All these developments make these places ideal for working and living. Besides, better infrastructure also drives the economy of a country. India has its vision to evolve as a developed country by 2047. Infrastructural development would significantly contribute to its efforts in this regard.
The Delhi-Mumbai Expressway is currently one of the best initiatives in India. This would be an 8-lane expressway that would connect both the cities. This would reduce travel time to 12 hours from 24 hours between Delhi and Mumbai. The development of the new road will also facilitate the movement of goods and services. Trade and business are likely to get a boost with better connectivity between these two major cities in India.
Most importantly, the development of this road will strengthen the real estate industry in the region. Evidently, infrastructure continues to be a prime driver of the real estate industry in India.
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