New property hotspot in Ghaziabad

Property in Ghaziabad has ushered good news. The authorities have announced a widening of the 21 kilometer stretch of the National Highway 24 which extends from Dasna to UP Gate. The primary reason for this is the traffic problems that are faced by the residents of Noida and Indirapuram. This news has been a relief for the inhabitants of these cities.

The current status of Ghaziabad is somewhat similar to the rest of India, which is said to be stagnant. The city has numerous projects lined up, but the slowdown of Property Buyers in Ghaziabad has affected the whole real estate scenario in the developing city. This, however, has given a push to the projects that are lined along the National Highway 24 which has resulted in repositioning of many of the projects being locate along NH-24.

NH-24 is one of the busiest highways that connects Lucknow and Delhi overall, but it blocks especially between Hapur and Nizamuddin Bridge. It is said to be a new life for Property in Ghaziabad. The city is a prominent industrial and residential hub. Many people use this highway to travel to and from Delhi whereas on the other hand the highway connects Lucknow and Hapur and is one of the main roads in Uttar Pradesh.

The traffic on this highway has become a problem for the people travelling as well as living in Noida and Ghaziabad especially those who use this road on a daily basis. As per numerous surveys, this stretch has as much as 1.4 lakh passengers using this corridor and these two cities in the NCR has witnessed the major rise of the new residential projects and thus the inflow of new residents in the last five years. As a result, this expansion was much needed and was in demand for long.

The stretch along the National Highway 24 offers various property options. Currently, land parcels are available with different segments from mid and high rise buildings to integrated townships; Ghaziabad properties have numerous options for the buyers to choose from. Also, the prices of Property in Ghaziabad varies by the proximity to the highway as well as the availability or offerings of the local infrastructure.

The location is again heading towards being a promising place for investing in the residential and commercial property in Ghaziabad. The renowned developers are already developing some magnificent projects along the National Highway 24 with a belief of getting real returns in the future.

Growth mode is on for Real Estate Market in Ghaziabad

The gateway to Uttar Pradesh, Ghaziabad is known to be one of the fast growing real estate cities in Delhi NCR. Property in Ghaziabad is catering majorly to the affordable housing and mid-segment segments.  Currently the city is home to numerous housing clusters like Vaishali, Indirapuram, and Kaushambi where are upcoming regions would include developments along the National Highway 24, Crossings Republic Township, and Raj Nagar Extension.

Where areas like Kaushambi, Indirapuram and Vaishali is constructed to a high extent, regions like Raj Nagar Extension is on its way to developments ad numerous renowned developers are construction residential and commercial projects here. The well-developed areas have large existing housing population and have recorded healthy capital appreciation. All the projects whether residential or commercial are launched mostly in the premium or upper medium segments. These offers specifications and are unique.

The major developments can be seen in the region along the National Highway 24. The location is coming up with various plots along with mid and high rise buildings. The lands available in the location are either of the local players or are a part of an integrated township which would be soon constructed in the area.

The upcoming locations in Ghaziabad is developing at a rapid speed and many reputed and renowned developers are taking the initiative to come in the city and build residential and commercial property in Ghaziabad. Some of these developers are Ashiyana Group, SARE, Assotech, Ansal API, and WAVE Group to name a few. Along with the development of Ghaziabad Real Estate Sector, the government is taking the initiative to improve the social and physical infrastructure of the city.

Sub-markets to Ghaziabad also enjoys an enormous population base especially from the SMEs and industrial sector as well as the low income group looking for an up gradation to decent and better accommodation. In the future it is expected to see Property in Ghaziabad a major reason for the development to the city and see majority of sales volumes. Along with these developments, metro rails are also an important factor for all the infrastructural and other developments that are taking place in the city.

National Highway 24 Ready to Provide a Smooth Ride from Ghaziabad to Delhi - Buy Property

National Highway 24 or Delhi Meerut Expressway is on its way for widening as PM Narendra Modi launched Rs 7,566 crore project for the same. This has been delayed for over six years and finally the project is now ready to take off in almost two months and the completion timeline for the same is set at 30 months. The seamless connectivity will definitely make traffic jams a thing of the past and will cut down the travel time to the capital city, Delhi.This will have positive impact on both the developed and developing areas near the region.

The authorities have already acquired the land for the project except some of the patches like built-up inroad in Pandav Nagar region. Also, the Dasna to the Meerut Bypass’s processes have been completed and the compensation of the farmers has been submitted to the local authority.

This project has been proposed in all four sections. These sections are Nizamuddin Bridge to Uttar Pradesh border; UP border to Dasna; Dasna to Meerut and Dasna to Hapur. The work has been started in two of these four sections whereas the other two are in the pipeline. These are expected to being by March, as per the authorities.

The experts in the real estate sector say that the improvement in the infrastructure surrounding this corridor is necessity than a choice and if there will be any more delays in the widening will definitely lead to piling up of the unsold Properties in Ghaziabad and its surrounding areas. The realty market of Ghaziabad is said to be a market for the end-users and is said to be largely dependent on completion status of the projects, its infrastructure, its price and the location that is available in and around the projects that are coming into the city.

It is being said that there will be no impact or changes in the prices of the Ghaziabad Properties in the next 12-18 months due to which people are also not excited about the national highway 24, however, everyone is waiting for the actual ground work to start. There has been confusion and chaos due to this project as it was announced six years back and till date the actual development have not started. The ongoing constructions and the prices of the projects are actually dipping down. The prices are expected to recover when the project will be near completion, before that there is no expectation of change in the prices of the Projects in Ghaziabad and nearby areas.

Definitely, these developments are going to be a game changing segments for the city. National Highway 24 will make it more convenient for the travelers, residents and professionals to travel to Delhi as the time period will be reduced and there will be less traffic on the roads. Thus, the national highway 24 will be one of the best infrastructural developments for Ghaziabad which will of course have a positive impact on the real estate sector in the city and will provide good returns on the investment in the future.

Ghaziabad Positioned 87th in The Smart City Race

Ghaziabad could not make it to the list of 20 cities of the smart city race that was announced by the central government. The city was in fact ranked at 87 among all the cities which submitted their proposals to the union urban development ministry that is to be developed under the mission.

The list of chosen cities includes Pune, Surat, Ahmedabad, New Delhi area, Coimbatore, 

Bhubaneswar, Davangere, Solapur, Jaipur, Ludhiana, Chennai, Bhopal, Kochi, Vishakhapatnam, Udaipur, Jabalpur, Guwahati, Indore, Belgaum and Kakinada. There is no city from Uttar Pradesh that has cleared the obstacle to qualify for the development as a smart city.

The cities that have scored between 55 & 78 points have qualified the final round and made it to the smart city list. Though authorities in Ghaziabad are not sure about the parameters or reasons in which Ghaziabad scored less, also, the points secured by the city are not clear. Although the Ghaziabad Municipal Corporation is hopeful that they will make it to the second phase of selection as they are ready to submit fresh proposals.

In the NCR, Ghaziabad was selected among the 12 cities that were selected from Uttar Pradesh that will be developed under the smart city scheme. There were a total of 97 proposals from across the nation that were sent to the union urban development ministry.

Ghaziabad Municipal Corporation sent their proposal on December 15, 2015 with an estimation of Rs 1,120 crore that will be spent on various developmental and infrastructural works. The planned draft was examined by the Regional Centre for Urban and Environmental Studies in Lucknow before sending to the Urban Development Ministry.

Definitely, Property in Ghaziabad is increasing its pace of development but it will still take time to get fully developed under the smart city scheme and soon the city will see some world-class development which will increase the demand of commercial and Residential Property in Ghaziabad.

Growth in Ghaziabad Real Estate

Ghaziabad caters to the affordable housing segment and the mid-segment. The upcoming residential corridors like the area around NH-24, Raj Nagar Extension, and crossings republic townships are pacing –up developments in the city. There has been restriction in new construction in areas like Kaushambi, Vaishali, and Indirapuram. These areas have already being developed to a great extent and with a huge existing residential population, these residential areas have recorded a healthy capital appreciation.

All the recent developments have majorly been the upper-mid and premium segments that offers luxurious specifications and an up-gradation from the mid-segment housing options. There are numerous projects that are coming up in the region and all these projects are have different target audience that they are catering to. From the usual mid-segment to upper and luxurious segments, Ghaziabad has a lot to residential and commercial projects that are coming up in the region.

Places like Raj Nagar Extension has just started with it development phase, thus, the area has a lot of potential of newer and urban style developments. Though the place is currently seeing some lesser known developers that are constructing in the region, but soon renowned developers will also head their way to this side of the city.

Property in Ghaziabad would definitely continue to gather interest, especially for affordable housing and commercial projects in places like Raj Nagar Extension, NH-24, and Crossing Republic. Also, the Ghaziabad sub-market also has a large population to cater from the low-income workers, to industrial sector that are looking to upgrade to better accommodation. In the coming time, the already existing areas should surely continue to hold on to their grounds while the lower income groups should account for maximum of sales volumes.

The infrastructural developments like metro that is being extended to Ghaziabad and widening of the NH-24 to 6 lanes is said to aid in furthering housing developments in this region.The main demand is likely to generate from the middle and low-income population for the residential that are offering in this corridor.

These developments are increasing the demand of residential as well as commercial property in Ghaziabad . People are heading towards the developed along with the developing areas in the city. The affordability of property and easy accessibility from Ghaziabad makes it an appropriate option for residents and professionals.Buyers and developers are moving rapidly towards buying and developing in the real estate sector in Ghaziabad.

  

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