Realty Continues To Grow in Ghaziabad

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Flats for sale in Ghaziabad, buy flats in GDA Ghaziabad

 

Ever since the real estate development of the National Capital Region gathered momentum, the suburban cities saw this progress in double digits. The growth spread across the sectors and with a special focus on the realty sector. Flats for sale in Ghaziabad now command much higher prices than they used to before the infrastructural revolution.

 GDA Ghaziabad

 

The reality behind the development of the Delhi NCR is primarily the infrastructural growth and the NCR towns helping each other to procure the benefits. The first suburban city to rocket in terms of realty growth and become a commercial hub was Noida. This small district in Uttar Pradesh beat all the suburban areas, not only in the Northern part of the country but also in the South. No other city seems to have seen such rapid growth in terms of real estate, professional opportunities and development of commercial hub as the Gautam Budh Nagar district.

Taking a leaf out of the development of this infrastructural delight was the quiet city of Ghaziabad. A sleepy giant, again in Uttar Pradesh, the city was majorly a residential area and had small standalone houses and residential plots. The city had some industries and manufacturing units because the city shares borders with Delhi which provided vocation to the locals there. Like the National Capital, one could hardly spot any high rise or multi story building here and there were none or few flats for sale in Ghaziabad; infrastructural development had not at all seeped in the area till 1990’s.

Infrastructure Boom

The infrastructure boom that neighbouring Noida was witnessing slowly and steadily crept into this discreet city of Ghaziabad. The real estate giants realized the proximity of the place to Delhi and Noida and because with time buying property or find a property to buy in both these areas became expensive for the working class, residential projects at little lesser price rates were launched here by the private builders. Gradually, professionals employed with industries and MNCs in Noida started considering buying flats in Ghaziabad and as a viable option to reside in.

Connectivity to Delhi-NCR

Like Noida, Ghaziabad too enjoys contiguous borders with Delhi and from East Delhi, it is only a twenty minutes’ drive (with traffic). This served as a major value booster for the city and slowly almost all top private builders launched their projects here. Professionals working nearby were provided with an option of colonies which were 50 minutes from Connaught place, 30 minutes from ITO etc. and 10 to 15 minutes from the place they work, i.e. East Delhi, Noida, Sahibabad etc.

Constructions

The flats for sale in Ghaziabad, after the infrastructural development, were well furnished, well- maintained and unlike the GDA flats which offered basic amenities only. New gated communities were built, with high rise flats having facilities like clubs, gyms, parks, courts, conference halls etc. The picture of the real estate was completely inverted post 2000.

Property Prices

The prices for flats for sale in Ghaziabad are currently hovering between Rs 2100 per square feet to Rs 6900 per square feet (March to June 2015 figures). The prices are high in new age residential conglomerations like Indirapuram, Kaushambi, Vaishali etc.; these areas are immediately on the Delhi-Ghaziabad border and other areas which are a little interior into Ghaziabad have relatively lower prices.

The prices have corrected a little bit and come down, but they still continue to remain high as far as posh areas go. The trends indicate an extensive range of growth from 4 per cent to 28 per cent in the last six months (January to June 2015). The growth has doubled in areas where new projects have been launched like Raj Nagar and Shalimar Garden extension-I.

 

 

 

 Gaurav writes on behalf of 99acres which is leading online real estate portal providing information about property prices, best real estate destination and affordable residential apartments and different properties available across various cities in India.

 

 

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