Pune: The first phase of the
Delhi-Mumbai Industrial Corridor (DMIC) will lead to the creation of five new
cities along its various nodes and the urban centres that will benefit through
the first phase are Noida, Greater Noida, Gurgaon, Manesar, Jaipur, Ahmedabad,
Indore and Aurangabad.
These are amongst the key
findings of a comprehensive study on the DMIC released by Knight Frank India.
The report, which is the
first in a series of studies undertaken by the company, will serve as a ready
reckoner for all stakeholders and as well as those who wish to get an idea of
the possible impact of the DMIC on the districts of Ahmedabad, Vadodara and
Surat.
Amongst the takeaways of
the report is that close to two crore jobs (direct and indirect) will be
created by the seven nodes in the first phase. Assuming there are four members
per household, the new cities in the first phase will house a population of
nearly four crore.
Built-up demand
Providing a snapshot on
the impact on real estate by the first phase of the DMIC (figures estimated
till 2040) the report says that the total residential built-up demand will be
800 crore sq ft, while the total built-up commercial demand will be 251,622,000
sq ft. The total number of hotel rooms will be 18,233.
In a statement, Shishir
Baijal, Chairman & Managing Director, Knight Frank India said, “A total of
24 nodes have been planned along the entire stretch of the DMIC. Once all the
phases of the project are completed, job creation along the DMIC will be
unprecedented. The resultant effects of this astronomical job creation will
lead to immense real estate development across verticals in and around the
project areas. As these new urban agglomerations take shape, they will also
attract interest from other sectors of the economy. Increased job
opportunities, coupled with a superior quality of life offered by these new
cities, would provide boost to the migration of businesses and people to these
cities.”
Restricted focus
Samantak Das, National
Director & Chief Economist, Knight Frank India, added, “There is no denying
the fact that the DMIC and other corridors will have a major impact on real
estate. However, for the purpose of this study, we have restricted the focus to
the impact of the DMIC along its influence area in its first phase. According
to our study, there will be a rub-off effect of the implementation of DMIC
initiatives on the smaller urban centres in proximity of the respective nodes
and going forward, these are expected to grow at a faster rate than the
present-day major urban centres.” Source: Business Line
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