Ghaziabad’s upcoming residential corridors to get a boost from Metro extension
The extension of the Metro route to Ghaziabad as well as the widening of the NH-24 to six lanes is expected to give a boost to residential developments in Ghaziabad’s upcoming residential corridors, such as Raj Nagar Extension, Crossings Republic township, and other developments along the NH-24 beyond Indirapuram.
With Ghaziabad chiefly catering to the mid-segment and affordable housing segment, the potential homebuyers who are likely to comprise the core demand for residential developments in the upcoming corridors will apparently be the low- and middle-income population.
Although Ghaziabad already boasts some established housing clusters like Kaushambi, Vaishali and Indirapuram, new residential launches in these areas has become restricted of late due to shortage of land options.
Since these housing clusters have already witnessed noteworthy residential development in recent years and have a large existing residential population, the extension of the Metro route is set to aid the residential development in Raj Nagar Extension, Crossings Republic township and other upcoming residential corridors.
Already, in the last few quarters, these upcoming residential corridors have contributed the maximum to new project launches in the residential market in Ghaziabad. It is speculated that, in the near future, Raj Nagar Extension will apparently see new residential projects being launched by first-time or lesser known developers; with realty players like Assotech, Ansal API, SARE, Ashiyana Group and Wave Group having launched projects – including Crossings Republic – on NH-24.
Source – Business Standard
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