DMIC project to ensure smaller locations development: Report

Mumbai

The ambitious Delhi-Mumbai Industrial Corridor (DMIC) project is going to have a rub-off impact on the smaller locations around the ‘nodes’ which will help in meeting the urbanisation needs of the country, says a report.

The urban centres or nodes which will benefit in the first phase of DMIC project include Noida, Greater Noida, Gurgaon, Manesar, Jaipur, Ahmedabad, Indore and Aurangabad.

“The economic drivers emerging from the DMIC nodes in proximity to the present-day smaller urban centres should be present at a sustained pace over a long period of time to ensure that even the smaller locations rise up to meet the urbanisation requirements of modern India,” Knight Frank Executive Director (retail, hospitality and advisory services) Gulam Zia said.

According to its National Director and Chief Economist Samantak Das, DMIC and other planned industrial corridors will have a major impact on real estate in respective locations.

“There will be a rub-off effect of the implementation of DMIC initiatives along its planned nodes on the smaller urban centres…these cities are expected to grow at a faster rate than the present-day major urban centres,” he said.

According to the study, the first phase of the DMIC will lead to creation of five new cities along its various nodes, having a total population of nearly four crore, and create around one crore jobs (direct and indirect).

“A total of 24 nodes have been planned along the entire stretch of the DMIC. Once all the phases are completed, job creation along the DMIC will be unprecedented. This will lead to immense real estate development across verticals in and around the project areas,” Knight Frank Chairman and Managing Director Shishir Baijal said.

“Increased job opportunities, coupled with a superior quality of life offered by these new cities, would provide a further boost to the migration of businesses and people to these cities,” Baijal added.
PTI

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