Raj Nagar Extension emerges as affordable real estate destination
Ghaziabad- Despite several developing places in Delhi-NCR that offer residential units in the affordable segment, Raj Nagar Extension (RNE) has been emerging as the most favourite destination of property buyers.
Besides issues like increasing property rates, very few projects remain up to the mark of timely delivery, quality of construction and more.
But Raj Nagar Extension is an exception, where around 32,460 residential units have been planned, as it has assured that it delivers on all the parameters, including timely delivery of projects, in the last five years.
The projects in Raj Nagar Extension were launched with prices in affordable luxury range and remained upto the mark as promised by the developers. The projects also focused on improving physical and social infrastructure in the localities which facilitated people in terms of basic facilities.
Raj Nagar Extension and Noida Extension both came up at the same point of time, and there was strong competition between both the areas. They both had a slew of offers from real estate developers and gained almost similar response from buyers. But as Noida Extension dropped due to legal issues, RNE witnessed good demand from buyers.
RNE witnessed real estate boom in a short span of time and has around 2,000 families living there. There are over 750 ready to move in flats already up in this region.
Presently, the major concerns for the residents of RNE is improving connectivity and traffic decongestion. The Ghaziabad Development Authority (GDA) is looking to execute the proposed traffic decongestion plan of NH-58 and other roads in Ghaziabad in association with Raj Nagar Extension Developers Association.
The authorities have proposed to restructure the NH-58 stretch- from Meerut-crossing (near new bus stand) to ALT-cut and close down illegal cuts to allow free flow of traffic.
The NH-58 work is estimated to require around Rs 2 crore, which will be contributed by the developers. The construction of DPS and Movie World, completion of Ghukna More and Nand Gram works are also in the line.
Metro line at Arthala, located around 2 km from RNE, has further increased the interest of investors. A well-laid bypass which leads to RNE is ready and many more connectivity options have also been planned.
The proposed Rapid Rail Transit System (RRTS) between New Delhi and Meerut will have station at Mohan Nagar, which is in proximity to RNE. Anand Vihar, Vaishali, Mohan Nagar, Meerut Road (Airtel Cut) Morta, Duhai, Muradnagar, Gang Nahar, Modi Nagar, Mohiuddinpur, Meerut Bypass Cut and Pallavpuram are the proposed halts for this RRTS.
An 18 km long four-lane road from UP Gate to Raj Nagar Extension has also been approved by GDA recently. Half of this road will be elevated and another half, which will go from Raj Nagar Extension to Ataur, will be at the ground level. The road will further connect with the Northern Peripheral Road.
Another most important positive factor of buying property in Raj Nagar Extension is that the properties have clear land titles since initially, the land chunks were directly purchased by the builders from farmers and the villagers. At times when acquisition problems arose in other places, RNE kept moving successfully. With clear land titles and timely delivery of promised houses, RNE is certainly a prime destination for end-users.
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