The RRTS project has received funding from the Asian Development Bank, New Development Bank and Asian Infrastructure Investment Bank.
Experts say the upcoming network of rapid rail will revive the real estate markets of Ghaziabad, Meerut and other areas along the corridor, including Modinagar and Muradanagar.
“Sahibabad, Guldhar, and Duhai RRTS stations are identified for leasing of commercial space. This is part of NCRTC’s broader strategy of diversifying revenue sources and reducing reliance solely on fare collection.
By tapping into the commercial potential of RRTS stations, NCRTC can create additional streams of income, which are essential for covering operational costs, maintenance expenses, and future expansions,” said an official.By 2031, the three stations are expected to handle nearly 100,000 passengers daily.NCRTC has also identified 17.27 hectares of land in south Delhi’s Jungpura area to develop and lease serviced apartments.
“Combined with the projected increase in foot traffic, these commercial spaces present promising investment prospects. Through initiatives like maximising non-fare box revenues and implementing strategies such as transit oriented development (TOD), land value capture (LVC), and value capture financing (VCF), NCRTC is committed to securing the enduring viability of the RRTS corridors and stations,” the official said.
Currently, a 34-km section between Sahibabad and Modi Nagar North of the Delhi-Ghaziabad-Meerut RRTS corridor, including eight stations (Sahibabad, Ghaziabad, Guldhar, Duhai, Duhai Depot, Murad Nagar, Modi Nagar South, and Modi Nagar North), is operational for passengers.
The section is expected to be extended soon to Meerut South RRTS Station, bringing the total operational section to 42 km between Sahibabad and Meerut South.
The entire 82 km corridor is expected to be operational by 2025.
Despite being in close proximity to Delhi, Ghaziabad and satellite areas such as Modinagar, Muradnagar and Meerut could not attract buyer interest the way Gurgaon and Manesar did.
With the Delhi-Ghaziabad-Meerut RRTS corridor becoming operational, the real estate landscape of these satellite towns will change, said experts.
