Buyers Spoilt For Choice In Ghaziabad
The satellite towns of Delhi have emerged as the best bet for developing mid-income houses in the sub-Rs 40 lakh category. The Raj Nagar extension at Ghaziabad is one such locality that is offering houses in the price range of Rs 11 lakh to Rs 40 lakh. The apartments are available in the range of 650 sq ft to 2,000 sq ft.
Interestingly, around 16 developers with residential projects in the area have formed an association to synergise their efforts towards concerted development of the area. "There is a healthy competition among all the de-velopers to woo the prospective ho-me seeker," says Manu Garg, secretary, Raj Nagar Extension developers association and managing director of Lan-dcraft Infrastructure. The association also endeavours to coordinate with the Ghaziabad Development Authority (GDA) for the systematic development of the area.
Around eleven residential projects are already under various stages of construction and will be ready for possession by mid-2010. The total numbers of apartments, which range from 1BHK to 4BHK, in these projects are 7,000. These projects are being developed by Ajnara Farms & Services, Ashiana Homes, Ascent Buildtech, KDP Infrastructure, Landcraft Infra-structure, MCC Developers, Quantum Buildwell, Shree Energy Developers, SVP Builders, SG Estates and Tec-hman Buildwell.
The projects are spread over 150 acre. Construction would happen on around 100 acre and the total built up area would be about 95 lakh square feet.
Any enquiry by a prospective buyer is circulated among all the developers of the association who can then show their respective projects to the customer. "The individual can then choose the apartment that best suits his needs and budget," says Garg.
The developers association claims that all the projects have been approved by the Ghaziabad Devel-opment Authority and all the leading banks are providing home loans for the purchase of an apartment in these projects. "The developers are relying on their own marketing teams to sell the apartments, which means that a home buyer gets the first-hand information about the progress of the project rather than relying on the information fed by the brokers," explained Vijay Jindal, chairman and managing director of SVP Group. SVP Group is executing a residential project, Gul-mohar Garden, in the locality. Jindal added that the broker-led sales have been only 13 per cent.
Though connectivity to the area remains an irritant, the Ghaziabad Development Authority has proposed a metro link to the locality, which when completed would significantly improve connectivity. "Better connectivity to the locality will be an incentive to the people of Delhi to move to Ghaziabad," says Jindal.
Approximately 500 acres along the River Hindon has been declared as green belt by the Ghaziabad Devel-opment Authority, which bans any construction in this area. This, the developers claim, is the biggest advantage of the locality.
Ghaziabad has, in fact, managed to cater to the housing needs of people from Delhi. Adjoining areas of Ghaziabad like Kaushambi, Vaishali, Indirapuram have witnessed tremendous growth in the residential property market.
Other infrastructure projects coming up in the area include the road connecting NH 24 to NH 58 at an estimated cost of Rs 100 crore, extension of GT Road to NH 58 via Noor Nagar along the Hindon embankment at Rs 100 crore.
The river Hindon would have a bridge built across it, which includes a 45 feet road. A rail overbridge is proposed near the Diamond Chauraha to Ghaziabad Hapur Raiol section at a cost of Rs 25 crore.
The developers claim that these pr-ojects, upon completion, would bring a sea change with regard to connectivity to the area.
Source: MyDigitalFc.com
Interestingly, around 16 developers with residential projects in the area have formed an association to synergise their efforts towards concerted development of the area. "There is a healthy competition among all the de-velopers to woo the prospective ho-me seeker," says Manu Garg, secretary, Raj Nagar Extension developers association and managing director of Lan-dcraft Infrastructure. The association also endeavours to coordinate with the Ghaziabad Development Authority (GDA) for the systematic development of the area.
Around eleven residential projects are already under various stages of construction and will be ready for possession by mid-2010. The total numbers of apartments, which range from 1BHK to 4BHK, in these projects are 7,000. These projects are being developed by Ajnara Farms & Services, Ashiana Homes, Ascent Buildtech, KDP Infrastructure, Landcraft Infra-structure, MCC Developers, Quantum Buildwell, Shree Energy Developers, SVP Builders, SG Estates and Tec-hman Buildwell.
The projects are spread over 150 acre. Construction would happen on around 100 acre and the total built up area would be about 95 lakh square feet.
Any enquiry by a prospective buyer is circulated among all the developers of the association who can then show their respective projects to the customer. "The individual can then choose the apartment that best suits his needs and budget," says Garg.
The developers association claims that all the projects have been approved by the Ghaziabad Devel-opment Authority and all the leading banks are providing home loans for the purchase of an apartment in these projects. "The developers are relying on their own marketing teams to sell the apartments, which means that a home buyer gets the first-hand information about the progress of the project rather than relying on the information fed by the brokers," explained Vijay Jindal, chairman and managing director of SVP Group. SVP Group is executing a residential project, Gul-mohar Garden, in the locality. Jindal added that the broker-led sales have been only 13 per cent.
Though connectivity to the area remains an irritant, the Ghaziabad Development Authority has proposed a metro link to the locality, which when completed would significantly improve connectivity. "Better connectivity to the locality will be an incentive to the people of Delhi to move to Ghaziabad," says Jindal.
Approximately 500 acres along the River Hindon has been declared as green belt by the Ghaziabad Devel-opment Authority, which bans any construction in this area. This, the developers claim, is the biggest advantage of the locality.
Ghaziabad has, in fact, managed to cater to the housing needs of people from Delhi. Adjoining areas of Ghaziabad like Kaushambi, Vaishali, Indirapuram have witnessed tremendous growth in the residential property market.
Other infrastructure projects coming up in the area include the road connecting NH 24 to NH 58 at an estimated cost of Rs 100 crore, extension of GT Road to NH 58 via Noor Nagar along the Hindon embankment at Rs 100 crore.
The river Hindon would have a bridge built across it, which includes a 45 feet road. A rail overbridge is proposed near the Diamond Chauraha to Ghaziabad Hapur Raiol section at a cost of Rs 25 crore.
The developers claim that these pr-ojects, upon completion, would bring a sea change with regard to connectivity to the area.
Source: MyDigitalFc.com