Vaishali Real Estate : The Growth Story
Vaishali is one of the hottest destination in Ghaziabad. Good connectivity to Delhi, Noida also Faridabad and Agra, created a huge positive point for this area to grow up.
Real estate of Vaishali got a kick start due to the Metro connectivity and accessibility. The purchasing power among young urban professionals is due to the easy availability of finance and changing attitudes towards home ownership are conditions that have contributed to the growth of the residential real estate market.
Generally Ghaziabad is divided into two main areas, the Hindon Area and old Ghaziabad. Hindon Area comprises of newly developed areas of Ghaziabad like Indirapuram,Kaushambi, Ramprastha, Surya Nagar, Vaishali and Vasundhara. Whereas Raj Nagar, Kavi Nagar, Patel Nagar, Shastri Nagar, Govindpura and Navyug market comes under Old Ghaziabad.
Due to the high rates in Noida and Gurgaon, investors started investing in Ghaziabad, especially in Vaishali and Indirapuram. Also because of the metro connectivity of Vaishali adds the flavour of making it more accessible for investors. Vaishali has a healthy mix of investors and end user.
Among Indirapuram and Vaishali, Vaishali become much popular than other areas. Mid end users found it more affordable than other areas. Vaishal has improved and come a long way in terms of real estate development.The favouring factors of growth and attracting buyers are the social and the physical infrastructural development of the region, especially during the Commonwealth Games in 2010, the extended Metro track and close proximity to Delhi and Noida.
Initially Vaishali was not a perfect platform for residential investment but the locality is emerging as a popular destination for the middle-class buyer now. There are innumerable residential projects that have mushroomed here in the last few years. Few famous developers like Amrapali Group, Ashiana Housing Ltd, Gaursons India Limited, Mahagun (India) Pvt Ltd, DesignArch, Ramprastha Group and Supertech Ltd have launched various projects in this area.
The past values of this locality used to vary from Rs 2932 per sq ft to Rs 4500 per sq ft. The prevailing prices vary from Rs 3560 per sq ft as average to Rs 6500 per sq ft as maximum.
The price trends of Vaishali depends on the location, the builder, residential typology and other attributes of the property. Few cons thats Vaishali has to fight against are like parking, power backup, 24-hour water supply, security.
The main factor is the extension of Delhi Metro, which will further help in the growth of real estate in the area. With the blue line metro connectivity, the real estate values are also expected to increase.
Recently, the rental value for a 2BHK is Rs 10,000-12,000 per month while for a 3BHK, it is approximately Rs 14,000-16,000 per month. The rate and the growth will increase hand in hand in Vaishali. Even statistics say there might be an increase in the commercial activity in the area.
Vaishali has gradually become a coveted destination in Ghaziabad for residential and commercial purpose. Looking at the present scenario values of properties, commercial and residential are bound to increase by at least 50% in the next two year, according to experts.
Related Real Estate News:
E-stamping: Registering large volumes of property in Gurgaon
NCR introduces new investment hub : New Noida
Ghaziabad, Ghaziabad real estate, Metro in Delhi, Realty News, Vaishali, Vaishali apartment, Vaishali metro, Vaishali real estate, Vaishali residential sector
