Ghz a positional advantage
Ghaziabad, one of the satellite cities of the National Capital Region (NCR), is located in Uttar Pradesh. Ghaziabad enjoys a positional advantage as it is located on the Grand Trunk road — connecting Bangladesh to Afghanistan. Moreover, its easy connectivity with the national capital and the rapidly industrialising city of Noida has given strong reasons to the local government for its development.
In the last few years, the development authorities of Ghaziabad have laid special emphasis on developing the social and physical infrastructure of Ghaziabad. As a result, many companies like Coca-Cola and ITC, have set up their manufacturing units in Ghaziabad. This development has boosted the retail sector in Ghaziabad.
Investment boon:
Owing to the high rental and capital values of residential and commercial spaces in Delhi, investors have started directing their investments to Ghaziabad. Investors have a valid reason for doing so. Ghaziabad is not only one of the hot destinations for investments in real estate but is also well connected to Delhi. With Metro Rail on the cards it a very viable option for investment.
Of late, Ghaziabad property market is
witnessing trends that suggest that employers, residents, traders and foreign investors are finding value for their money. People are willing to buy property in Ghaziabad mainly to avoid paying much higher rates in Delhi and enjoy living away from the hustle-bustle of a metropolis and yet be in touch for functional purposes. Typically, people work in Delhi and stay in Ghaziabad.
Hot localities:
As Ghaziabad is part of the NCR, more and more people are attracted towards it. Localities like Vasundhara, Indirapuram, Vaishali, Shipra Suncity and Kaushambi, situated on National Highway 24, are the key areas that have been developed in recent years. These adjoining areas of Ghaziabad are witnessing tremendous growth in terms of residential property market.
Kaushambi is one of most active areas with the coming up of many townships, offering luxury condominiums and multiplexes. The fact that Commonwealth Games will be conducted in 2010 has been able to generate a lot of action in terms of infrastructure, retail and hospitality development in and around Kaushambi.
Real estate experts are of the opinion that prices of most of the prime residential properties in Indirapuram have seen a massive increase in demand in the last couple of years. Moreover, Delhi Metro Rail Corporation’s (DMRC) decision to extend the metro line to Ghaziabad has also contributed to the rise in demand in these localities. As a consequence of these developments, capital values of apartments have escalated.
Prices of the properties in Ghaziabad are between Rs 2,600 and Rs 3,000 per sq ft. In Vaishali, currently a Co-operative Building Housing Society (CGHS) having 2/3/4 BHK apartments costs Rs 2,700-2,800 per sq ft whereas, it cost around Rs 2,500 per sq ft in May 2007. Prices of builder flats have dipped from Rs 3,000 in May 2007 to Rs 2,700-2,800 per sq ft. Price trends of CGHS apartments in Kaushambi and Vasundhara are almost the same as those in Vaishali. Builder flats in Kaushambi have increased from Rs 3,000 in May 2007 to Rs 3,250 per sq ft now. Real estate experts suggest that growth in Ghaziabad is anticipated to be enormous as these three cities, Delhi, Noida and Ghaziabad, are now considered as the triangle of industrialisation and economic growth.
In the last few years, the development authorities of Ghaziabad have laid special emphasis on developing the social and physical infrastructure of Ghaziabad. As a result, many companies like Coca-Cola and ITC, have set up their manufacturing units in Ghaziabad. This development has boosted the retail sector in Ghaziabad.
Investment boon:
Owing to the high rental and capital values of residential and commercial spaces in Delhi, investors have started directing their investments to Ghaziabad. Investors have a valid reason for doing so. Ghaziabad is not only one of the hot destinations for investments in real estate but is also well connected to Delhi. With Metro Rail on the cards it a very viable option for investment.
Of late, Ghaziabad property market is
witnessing trends that suggest that employers, residents, traders and foreign investors are finding value for their money. People are willing to buy property in Ghaziabad mainly to avoid paying much higher rates in Delhi and enjoy living away from the hustle-bustle of a metropolis and yet be in touch for functional purposes. Typically, people work in Delhi and stay in Ghaziabad.
Hot localities:
As Ghaziabad is part of the NCR, more and more people are attracted towards it. Localities like Vasundhara, Indirapuram, Vaishali, Shipra Suncity and Kaushambi, situated on National Highway 24, are the key areas that have been developed in recent years. These adjoining areas of Ghaziabad are witnessing tremendous growth in terms of residential property market.
Kaushambi is one of most active areas with the coming up of many townships, offering luxury condominiums and multiplexes. The fact that Commonwealth Games will be conducted in 2010 has been able to generate a lot of action in terms of infrastructure, retail and hospitality development in and around Kaushambi.
Real estate experts are of the opinion that prices of most of the prime residential properties in Indirapuram have seen a massive increase in demand in the last couple of years. Moreover, Delhi Metro Rail Corporation’s (DMRC) decision to extend the metro line to Ghaziabad has also contributed to the rise in demand in these localities. As a consequence of these developments, capital values of apartments have escalated.
Prices of the properties in Ghaziabad are between Rs 2,600 and Rs 3,000 per sq ft. In Vaishali, currently a Co-operative Building Housing Society (CGHS) having 2/3/4 BHK apartments costs Rs 2,700-2,800 per sq ft whereas, it cost around Rs 2,500 per sq ft in May 2007. Prices of builder flats have dipped from Rs 3,000 in May 2007 to Rs 2,700-2,800 per sq ft. Price trends of CGHS apartments in Kaushambi and Vasundhara are almost the same as those in Vaishali. Builder flats in Kaushambi have increased from Rs 3,000 in May 2007 to Rs 3,250 per sq ft now. Real estate experts suggest that growth in Ghaziabad is anticipated to be enormous as these three cities, Delhi, Noida and Ghaziabad, are now considered as the triangle of industrialisation and economic growth.