Is Faridabad Property Giving competition to that in Gurgaon?

Faridabad is considered as the most promising city by many and some consider it to be a poor cousin of Gurgaon. Whatever is the view of people, there is no denying that numerous things are working in the favor of the city and the metro connectivity is like the cherry on the top!

Known to be the largest city of Haryana, this fantastic city possesses a good and strategic geographical location due to its vicinity to all the primary cities of NCR, namely Gurgaon, Noida, and South Delhi, which has played a significant role in boosting the Real Estate Sector and economic possibilities. It is pretty visible that Properties in Faridabad has been attracting numerous buyers as well as other developers or competitors due to its incredible physical and social infrastructure. The primary reason for the same has been the shortage of land in Delhi. No doubt, these investments are generating many job opportunities.

This magnificent city is witnessing numerous new mass transit systems that are developing in the city. The metro connectivity that connects Faridabad to Delhi. Along with this the city will be connected to the rest of NCR through metro, expressways and roads. The improved transportation of Faridabad contributes significantly to the rise of the city. Also, there are numerous housing projects and IT parks that are nearing completion in the city.

There are numerous factor start are contribution towards the growth of Faridabad. These includes the metro connectivity that has open gates for developments in Gurgaon and the IT companies in the millennium city, Gurgaon. Another biggest advantage that Faridabad has is it closeness to Gurgaon and Delhi and both these cities have scarcity of affordable housing segments and land. This has bought along advantage for the Residential Properties in Faridabad.

The hinterlands are also being experienced in the city. Places like Nehrapur has received boost due to the Kundli-Manesar-Palwal Expressway that will connect Delhi to Faridabad. This will provide the advantage to the residents in Faridabad to enjoy the improved infrastructure of the national capital, Delhi.

Faridabad properties are all set to boom in the coming time. With numerous MNCs, small and medium sized organizations are moving towards Faridabad- Ballabgarh complex. This obviously will affect the Real Estate sector in the city 

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.

Property Prices Get Costlier in Noida With Increase on Stamp Duty

The Uttar Pradesh cabinet has approved the hiking of the stamp duty on the homes by 2% in all the cities. This will automatically increase the burden of the buyers by 1-2 lakhs whereas the revenue department will be earning an additional of Rs 100 crore from Buyers of Property in Noida. With the Okhla Bird Sanctuary row, the home buyers will fell double whammy about their homes.

The buyers have got angry and accused the nexus between the developers, Noida Authority and district administration for various miseries. The developers believe that this would have an adverse effect on the GB Nagar real estate. Also. The authorities say as soon as the government issues the notifications and order, they will start to charge the new rates of the stamp duty.

The authorities also believe that this will take a month to complete the entire process, and thus they say that the hiked stamp duty is likely to charge from April. However, this will not go down pretty well especially with the buyers of Noida Properties. These buyers are especially those who were forced by the developers to wait out a legal battle to draw an eco-sensitive zone all around the Okhla Bird Sanctuary where they have bought apartments. Apart from these, there were numerous flats those were not delivered due to stay orders by the governments will be delivered now and these will be affected by the hiked stamp duty.

Previous year after the final notice to notify the eco-sensitive zone around the Okhla Bird Sanctuary, the respective department has declared that they will be charging additional stamp duty for the completed apartments that were not delivered due to the legal battle.

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.