Ghaziabad real estate continues to grow

Ghaziabad is one of the favorite real estate destinations in the National Capital Region (NCR). Owing to its proximity to Delhi, strategic infrastructure and excellent connectivity, the city has been witnessing rapid growth.

Location and Connectivity

Ghaziabad, a city belonging to Uttar Pradesh, is located on the eastern part of Delhi-NCR. Delhi is located at 28 km from Ghaziabad, Noida at 24 km, Faridabad is at 46 km and Gurgaon is located at 62 km.

The region is well connected to all cities in the surrounding as the national highways like NH-24, NH-58 and NH-91 pass through the city.

The 22 km-long link road between Greater Noida and Ghaziabad, which connects the active Zeta sector in Greater Noida with the Vijay Nagar Bypass on NH-24, will add to its connectivity. The link road is believed to reduce travel time and commuting woes of people travelling between Noida-Ghaziabad. The flourishing real estate market of Ghaziabad will further get a boost with the Eastern Peripheral Expressway (Kundli-Ghaziabad-Palwal) project.

The entry of Metro, proposal of a Rapid Metro link from Delhi to Meerut through Ghaziabad, several flyways and flyovers have increased the connectivity of the city with various parts of NCR. The Delhi Metro line has already been operating till Vaishali and it has been proposed to extend the Metro network to other parts of the city in a phased manner.

Infrastructure development

The Master Plan for Ghaziabad has significantly contributed for the construction of world-class infrastructure in this region that has further pushed the real estate growth of the city. Also the authorities such as the Ghaziabad Development Authority (GDA), UP Awas Vikas Parishad, local municipal corporations, etc have also rendered good co-operation in the planned development of the city.

The state government is planning on road widening and construction of multiple underpasses, foot over bridges, service lanes with green belts, etc which would greatly impact the city’s overall infrastructure. The FNG corridor connecting Faridabad-Noida-Ghaziabad and Ghaziabad-Meerut expressway are also in the pipeline.

The GDA is planning to develop 18 km long four-lane Hindon Elevated Road which will help in decongesting the traffic and boosting the city’s connectivity. The road will start from NH-24 bypass and terminate at a road connecting NH-58 with Loni along Hindon.

Industrial hub

Ghaziabad is among the highest revenue-generating cities of UP which houses industries including small, medium and large scale. There are many industrial areas in Ghaziabad such as Bulandshahr Road Industrial Area, G. T. Road Industrial Area, B S Road Industrial Area, Loni Road, Sahibabad Industrial Area, etc.

Real estate development

Ghaziabad has been observing new levels in terms of real estate growth in the past few years. Though it did not grow as fast as Gurgaon or Noida, the city holds huge growth potential. There is a healthy demand for real estate projects and so far, the supply has also been adequate.
The realty market of Ghaziabad offers great investment options to investors and also promises to deliver high profits with good appreciation in capital values in around 3-4 years.

The social infrastructure in Ghaziabad is well established, which is also a major attraction to property buyers. There are many reputed schools, colleges, hospitals, banks, malls from renowned builders and commercial complexes in this region. Those who cannot afford to buy properties in Noida or Gurgaon can consider Ghaziabad as an option as well since the property prices in this city are comparatively low.

Areas witnessing rapid growth in terms of real estate in Ghaziabad include Indirapuram, Vaishali, Vasundhara, Raj Nagar Extension and Crossings Republik. The rates of properties vary from one part to another within the city. While a 2bhk (around 1300 sq ft) is available at around Rs 30-40 lakh in Raj Nagar Extension, it may cost around Rs 40-50 lakh in Indirapuram. The average price per sq ft for properties in Ghaziabad would be around Rs 3,000 to 4,000.

Ghaziabad houses properties in luxury, ultra luxury and affordable segments too which attracts more and more buyers belonging to various income groups to this region. The development of the industrial sector also attracts buyers to this region. About 25 to 35 percent appreciation has been recorded in Ghaziabad in the last one year.

Many new projects are coming up in Ghaziabad across residential, commercial, corporate, industrial and hospitality segments. Developers such as Amrapali, Gaursons Ltd, Supertech, Ashiana Housing, Wave City, SVP, Antriksh, Ajnara, Landcraft, etc are developing real estate projects in this region. Some of the residential projects in Ghaziabad include ATS Advantage, Sanskriti, Cascade, Wave City, Landcraft’s Golf Links, Colista Towers, Angel Mercury, Bankey Bihari Sharan, Javin Raj Empire, etc.

The long awaited link road connecting Greater Noida (Zeta Sector) and Ghaziabad (Vijay Nagar Bypass) is likely to boost the realty market in this corridor with improved connectivity. Builders are hopeful about the real estate spurt in this stretch and already many commercial and residential projects have been launched in this corridor. A minimum of 20 percent hike can be expected in this stretch, said market experts.