Migration of people to cities from villages, industrial revolution, better economic opportunities, growth of private sector after 1990, infrastructure facilities in the urban areas, and 11th five-year plan aiming at urbanization for the economic development are some of the common factors that play a vital role in urbanization of India, especially metro cities and the national capital of India, Delhi. With all these factors, growing demand of housing has become a real phenomenon as people are coming to cities at an unprecedented rate.
According to a survey by UN State of the World Population report, 40.76% of Indian population is likely to reside in urban areas by 2030. The World Bank also states that India will lead the world’s urban population surge by 2050. India’s existing urban growth rate is 2.07% and Delhi is the largest urban agglomeration. Interestingly, Ghaziabad is the 9th largest urban agglomeration where people search for better housing options matching their budget and living standards. As maximum Indian population is heading towards Delhi NCR, one has to see whether the smart city is ready to cater the need and growing demand of affordable housing in Delhi NCR.
People who search for a perfect property option and want to have the joy of having a ‘Permanent Address’ in best affordable rates in Delhi NCR can bank upon Ghaziabad real estate market that is known for catering the mid-segment and affordable housing segments. Ghaziabad already enjoys a better social and physical infrastructure and the new tag of smart city will allow the industrial city to get better living conditions with the availability of assured water and electricity supply; sanitation and solid waste management; efficient urban mobility and public transport; robust IT connectivity; e-governance and citizen participation; and safety and security of citizens.
Ghaziabad also has metro connectivity, new upcoming link roads, elevated roads, and easy connectivity to the national capital via rail and road. There are above 100 real estate developments being developed by leading real estate builders of India. With the presence of two national highways, an upcoming expressway, residential clusters, proximity to the national capital Delhi, excellent connectivity to nearby areas and incessant infrastructure developments are some of the highlights of the property in Ghaziabad. The city also has a big green belt that takes citizens close to the nature.
The average price of property in Ghaziabad starts from Rs 2500 to 6500+ that is really pocket-friendly. Property prices at NH 24 range between 2,365-3,739, Raj Nagar Extension 2,758-3,924, Vaishali 1 4,857-6,800, Abhay Khand 4,759-6,763, G T Road 3,736-5,292, Lal Kuan 2,203-3,364, and Siddhartha Vihar 2,911-4,090. With presence of prominent educational institutes, heavy industries, shopping clusters, and entertainment facilities, the city beckons home buyers to have their choice 1, 2, 3 or 4 bhk residential options at a price tag that is really competitive and almost half than existing property prices in Noida, Delhi, and Gurgaon.
With all above-mentioned upcoming plans, existing infrastructure, and launching of new residential developments from the GDA as well as private builders, it is right to say that urban Ghaziabad is ready to cater the growing need of affordable housing in Delhi NCR?