Delhi NCR is India’s principal urban agglomeration and the 2nd largest in the world. It is one of the fastest growing realty hubs that offer home buyers adequate social and physical infrastructure. It also supports an ever increasing population and provides them residential clusters in its nearby regions—Ghaziabad, Gurgaon, and Noida. The future and growth of any real estate market depends on the existing as well as forthcoming infrastructure projects that are necessary to live a quality life in any residential cluster. Currently, Ghaziabad real estate market is a perfect option for home buyers who not only expect better living environment but also prefer affordable housing solutions.
According to the survey from real property portal, almost 82% of respondents purchased property in Delhi NCR for end use. This trend is more likely to continue with the BJP’s ‘housing for all by 2022 vision’ and promotion of affordable housing sector in the country. Industry experts predict that Ghaziabad real estate will become a hot property center in Delhi NCR in next 5 years. They expect that about 3-4 million housing units will be demanded in Ghaziabad. Let’s discuss some factors related to infrastructural plans that will give a new direction to the real estate industry.
- The GDA has approved Rs 1,500 crore expenditure in various infrastructure works—extension of the Delhi Metro to New Bus Stand from Dilshad Garden to New Bus Stand, the proposed 21-km Northern Peripheral Road, and the Hindon Elevated Road.
- Development of trans-Hindon area will increase the price of property in Raj Nagar Extension, Ghaziabad. Once metro extension work is completed real estate developers will have to meet the growing demand of luxurious as well as affordable flats in Raj Nagar Extension.
- With the central government’s approval of the widening of national highway 24 from 6 lane to 8 lane, new real estate projects will be developed along the stretch and cater the growing needs of flats, studio apartments, and villas in NH 24 Ghaziabad. Demand is expected to get a big boost due to India’s demographic dividend and the growing trend of nuclear families.
- Faridabad-Noida-Ghaziabad (FNG) Expressway’s National Highway status will certainly boost real estate market in Ghaziabad.
- Development of NH 24 to NH 58 link road. Improvement of crossing and widening of roads like Meerut Road.
In 2015, Ghaziabad is expected to float smoothly in the market with a lot of infrastructure. To sum up, it can be predicted that Ghaziabad real estate will thrive as the city achieves better development.