Haryana Budget To Fuel Growth In Infra And Connectivity, 'New Metro Corridors Game Changer' Say Real Estate Players

The Haryana government has recently announced the allocation of Rs 5,893 crore in the budget to bolster the urban development which include roads, highways and Metro connectivity among others.

It is an increase of 11.1 per cent over revised estimates for the current year, with a strong emphasis on boosting the realty sector in the state. 

The announcement of new Metro connections, such as RezangLa Chowk to IGI Delhi, Southern Peripheral Road (SPR) to Global City Metro Link, and Manesar to Panchgaon, will not only improve connectivity but also propel commercial activities. 

NCR-based real estate players praised the government's statement, believing it will be a game changer for Haryana's realty market.

"Gurgaon Metro work will start in 2023 and 2024. This includes three metro links in Budget 2023 of Haryana including RezangLa Chowk to IGI Delhi, SPR to Global City Metro Link, and Manesar to Panchgaon," said Navdeep Sardana, CMD, Whiteland Corporation.

The SPR corridor is likely to have a positive impact on the real estate sector, driving demand and boosting the overall growth and development of the area and the state.

The availability of efficient and convenient transportation options, such as a metro system, is known to be a key factor in driving the growth of the real estate market.

"We appreciate the efforts of the Haryana Government as developing infrastructure is essential for the economic growth and development of a country," Sardana added.

Infrastructure developments are expected to have a positive impact on the real estate industry, making it easier for people to access various parts of the state and for businesses to operate in Gurugram and throughout the province.

Pradeep Aggarwal, Founder and Chairman, Signature Global, said, "The infrastructure-related policies outlined in the Haryana Budget 2023 are both encouraging and empowering.

"The allocation of Rs 5,408 crore for roads, highways, and railways, along with the proposed construction of the Gurugram metro and three other metro links in the region, is a game-changer for Haryana’s real estate sector."

"The budget allocation for infrastructure development demonstrates the state's readiness to become a powerhouse of economic growth and development. With a strong emphasis on infrastructure, Haryana is poised to experience enhanced connectivity and economic growth," said Trehan Iris Executive Director Abhishek Trehan.

These progressive policies will help the state achieve positive outcomes in the coming years, highlighting its commitment to sustainable socio-economic development.

With an emphasis on infrastructure development, the industry is expected to expand and attract more investments in the future, creating more employment, economic growth, and higher standards of living for the state.

Santosh Agarwal, CFO and Executive Director, Alpha Corp said, "The fourth Haryana budget announced Metro connections and the proposed subway connection to Panchgaon is welcome news for Gurugram."

"The Gurugram city's transportation system will be reinforced as a result of the government's plan. The improved connectivity will not only enhance the city's development but will generate new chances for the state's economic growth, which will further give impetus to the real estate sector of the region," he added.