The Margalla Road Expansion Project is a major infrastructure development that is expected to have a significant impact on real estate in Islamabad in 2023. The project is expected to be completed in the coming year, and its impact on the real estate market is likely to be felt in various ways. In this blog, we will explore how the Margalla Road Expansion Project is expected to impact real estate in Islamabad in 2023.
Location of the Margalla Road Expansion Project:
The Margalla Road Expansion Project is an important infrastructure development that is taking place in Islamabad. The project involves the expansion of Margalla Road, a major thoroughfare in the city that connects the Islamabad Highway with the Margalla Hills. The road expansion project will cover a distance of around 12 kilometers and will involve the construction of additional lanes, flyovers, and bridges.
Impact of the Margalla Road Expansion Project on Real Estate in Islamabad
The Margalla Road Expansion Project is expected to have a significant impact on real estate in Islamabad in 2023. Here are a few ways in which the project is expected to impact the real estate market:
Property Prices in the Surrounding Areas:
The expansion of Margalla Road is likely to increase accessibility to the surrounding areas, which could result in an increase in property prices in these areas. Areas like F-10, F-11, E-11, and G-11, which are located close to Margalla Road, are likely to see a significant increase in property prices as a result of the expansion project.
Increased Demand for Housing in the Surrounding Areas:
The expansion of Margalla Road is also expected to result in an increase in demand for housing in the surrounding areas. The increased accessibility to these areas will make them more attractive to potential homebuyers, resulting in a surge in demand for housing in these areas.
Development of Commercial and Retail Spaces:
The expansion of Margalla Road is also expected to lead to the development of new commercial and retail spaces in the surrounding areas. The increased accessibility to these areas will make them more attractive to businesses, resulting in an increase in the development of commercial and retail spaces in the area.
Improvement of Infrastructure:
The expansion of Margalla Road is expected to improve the infrastructure in the surrounding areas. This includes better road connectivity, improved transportation, and better access to basic amenities such as water and electricity. This improvement in infrastructure is likely to make the surrounding areas more livable and attractive to potential homebuyers.
Conclusion
The Margalla Road Expansion Project is a major infrastructure development that is expected to have a significant impact on real estate in Islamabad in 2023. The project is likely to result in an increase in property prices, an increase in demand for housing in the surrounding areas, and the development of new commercial and retail spaces. The improvement in infrastructure is also expected to make the surrounding areas more attractive to potential homebuyers. Overall, the expansion of Margalla Road is expected to be a positive development for the real estate market in Islamabad.