NHAI plans to venture into realty development to raise financial resources

NHAI plans to venture into real estate development to leverage the sharp rise in land prices following the construction of expressways and national highways. It will direct state governments to acquire land parcels along with project land, and then either develop it on its own or auction it to raise funds for the Bharatmala programme. A land parcel of 1-2 square km will be sought along the ring roads, while land area totalling 5-6 square km will be sought along greenfield expressways. There will also be a cap on the area where real estate development along the highways or ring roads will be allowed, to protect the interests of NHAI and the state governments.