Ghaziabad has proven to be a good investment opportunity over the years for investors. Real estate in this area is booming along the two national highways: NH-24 and NH-58. The two highways have turned the dusty,cluttered town into a realty market witnessing high demand. The development of residential and commercial space is taking place in the vicinity of these highways.
Due to the proximity to Delhi,excellent connectivity and infrastructure development,certain locations in Ghaziabad have offered good residential options. The Delhi Metro rail project has added a boost to connectivity.
Commercial and retail developments are already present in a big way in regions like Indirapuram,Vaishali,Kaushambi and Vasundhara. With a strong commercial catchment,a well-planned infrastructure network,and an affordable price band,both NH-24 and NH-58 offer several drivers to draw homebuyers attention.
Ghaziabad,enjoys connectivity to other NCR towns like Noida and Greater Noida,which is why it has popular among residents working there.
The stretch of NH-24 abutting Ghaziabad has witnessed the maximum attention. Crossings Republik,Wave City,and Landcraft Developers Golf Links,Antriksh Sanskriti,Amrapali Village,and projects by Gaursons,Supertech,are the major residential developments that have evoked a tremendous response from buyers.
The place came into prominence with the launch of Crossings Republik where seven developers came together to provide affordable houses. Ansals has also come up with their mega township in this area called Aquapolis. Prices for apartments in the area range between Rs 2,600-3,200 a sq ft and plots range between Rs 18,000-24,000 a sq yard.
The area around NH-58,called Raj Nagar Extension has seen a lot of buyer activity. The area offers budget homes in the range of Rs 15-20 lakh. For the last three years Raj Nagar Extension had seen stable prices in the absence of speculators or major broking houses.
The most compelling reason for any property buyer to choose Raj Nagar Extn was because of its location adjacent to Ghaziabad and close to the Hindon River Green Belt. Developments here offer the advantege of timely possession. Moreover there is no controversy surrounding this area like dumping grounds,villages etc.
Despite the distance and the hassle to get there,property buyers still see this area as a good residential option,and one that will see good appreciation in the long run.
The author is MD,Bricston Realtors