The BD government built the elevated expressway, and it has brought a significant change to the suburban areas near Dhaka. Places like Purbachal have become more accessible and are now more connected with the core of the city. You can realize how many positive changes and an increase in the valuation of the real estate in Dhaka. Let’s take a detailed look at how the Elevated Expressway impacted on Real Estate in the city of Dhaka.
How Elevated Expressway impacted on Real Estate in Dhaka
We’ll assess all the major impacts that the elevated expressway is having on Dhaka’s real estate sector.
Property Values Increment
One can easily understand that the elevated expressway has increased the property values of the suburban areas like Purbachal and all other regions, which are now more comfortably accessible. People can move to those places a lot more easily, and hence, the rising demand is also enhancing the property value.
Faster Travel
Using the elevated expressway, Faster Travel Across Dhaka is now a reality. The distance that previously required hours to cover, you can now cover within a few minutes. The direct and elevated route now bypasses the heavy traffic of Dhaka City. It eventually decreases the travel time.
Top Neighborhoods Thriving
Areas like Banani, Mohakhali, Tejgaon, Farmgate, etc, which are near the elevated expressway, are now gaining even more popularity, and there has been even higher demand for property. Indeed, they are now within touching distance to areas like Uttara and the airport. As a result, it is making those places the prime location. Thus, both residential and commercial real estate markets are having a positive impact.
Less Time to Commute
The daily trips to school and work have become much shorter. The time-consuming traveling has now turned into pleasant trips. This is saving both time and money for people, and they are choosing to stay within those areas that are close to the elevated expressway.
New Opportunity For Businesses
More public demand, enhanced accessibility, and more people involvement: all these are creating new opportunities for businesses. Companies want their office to be at a location where employees can move easily and also have the privilege of transporting goods comfortably. Thus, new businesses and offices are popping up in those areas.
Enhanced Investment in Real Estate
With the priority shifting towards the areas that are in close proximity to the elevated expressway, they are now the safer investment options for real estate. Because, public is willing to stay in those regions. They are also willing to pay high prices, and thus there has been an increase the investment in the real estate and all other sectors in the areas near the expressway.
Higher Rental and Apartment Demands
You can realize that more people want to stay in the areas that are easily connected to the expressway. Because it will save their travel time to reach various destinations. That’s why the rental and apartment demands are becoming higher.
Room for Development in the Suburban Areas
Previously there was the main focus was only on the heart of Dhaka city. But the elevated expressway has brought in scope to make development in the suburban areas like Purbachal. In fact, the project has made transportation a lot better to connect those places with the core, and also, the property values have gone high. It will give Dhaka city a newer look with development projects going on in the areas where there was no focus even a few years back.
Safety
Road safety also increased with the expressway. It will help avoid unnecessary jams and a lot of accidents. A reduced number of intersections, as well as no pedestrians, are the characteristics of the expressway.
Better Quality of Life
It is dramatically reducing air and noise pollution. Hence, people are enjoying cleaner air and also less noise and overall a healthier environment on their way to home, school, or work.
Quicker Access to Emergency Service
The elevated expressway also ensures faster access to emergency services like hospitals. It will save time during those crucial and critical conditions.
Tourism Aspect
Now people can also move to tourism places lot easily, and it will positively affect their mindset for places where the elevated expressway is in close proximity.
