â€œWhen I was explaining to a client that the Delhi-Mumbai Industrial Corridor (DMIC), would change the urban landscape of Bhiwadi, he reminded me that Rewari (a junction point in the DMIC), was 25 kms R
“When I was explaining to a client that the Delhi-Mumbai Industrial Corridor (DMIC), would change the urban landscape of Bhiwadi, he reminded me that Rewari (a junction point in the DMIC), was 25 kms away and that the corridor had no direct connection with Bhiwadi. However, within a few months, he came back after doing some research and started negotiating for the same property,” explains Hitendra Anant, a property agent in Bhiwadi.
Although the distance from Rewari to Bhiwadi is 25 kms, infrastructure could enable the distance to be travelled in half an hour. Moreover, Bhiwadi has several advantages over Rewari. It already has several industries, a growing residential real estate market, retail developments and better overall infrastructure. Bhiwadi could redefine the concept of a tier-2 city, once the first corridor of the DMIC project is completed.Ambitious project
The DMIC is one of the most ambitious infrastructure projects in India and declared as one of 100 innovative global projects, by consultancy firm KPMG. A joint-venture with Japan, the USD 90 billion infrastructure project, will cover an overall length of 1,483 kms, between Delhi and Mumbai. It is poised to have a major impact on the urban centres in Uttar Pradesh, NCR of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra – the six states that it passes through.
Bhiwadi, is likely to attract greater investment, owing to the upcoming industrial corridors. Consequently, infrastructure facilities, such as water supply, transportation and logistics, are likely to improve. The region already has several established industries and the DMIC is likely to supplement it, with the emergence of the services sector. This is likely to generate employment opportunities for the local population.
See also: Bhiwadi: A safe market for end-users and investorsGovernment support needed
According to Abhay Kumar, CMD of Grih Pravesh Buildteck, Bhiwadi (in Rajasthan), will benefit more from the DMIC, than areas along the corridor in Uttar Pradesh. He attributes this to the fact that Bhiwadi has more industrial activity and the corridor will further help the small and medium-scale industries to develop.
“The DMIC will create demand for properties in the residential, commercial, retail and hospitality sectors, in Bhiwadi. A lot depends on the state governments as well and in that context, Bhiwadi has the upper hand as the Rajasthan Government and Rajasthan State Industrial Development and Investment Corporation (RIICO), are quite proactive in making Bhiwadi an investment magnet for industries,” adds Kumar.Price trends
Rohtas Goel, CMD of Omaxe, points out that the land values along the DMIC, have definitely shot up. However, as we move away from the metropolitan centres, land is available at comparatively cheaper rates. “Creation of jobs, will be aided by the economic development of smaller cities, like Bhiwadi. This, in turn, will fuel the demand for more housing. As these cities offer land at a comparatively cheaper rate, developers will have an incentive to build affordable housing. Nevertheless, the government needs to expedite approvals and facilitate the sector,” says Goel.
Property analysts believe that Bhiwadi has the potential to emerge as an ideal industrial township. With the Rajasthan Government striving to improve connectivity, ensure quality power and water supply and provide effective logistic support to the industries, the DMIC could be the ideal catalyst for Bhiwadi’s growth.Quick bytes: The DMIC junction at Rewari is 25 kms away from Bhiwadi. The DMIC will provide a fillip to industries. Bhiwadi is likely to benefit, as it already is an industrial city. The industrial corridor will fuel infrastructure development and employment in Bhiwadi. Land parcels in Bhiwadi are more affordable, compared to any other stretch along the DMIC.
(The writer is CEO, Track2Realty)