Also known as the “Gateway to Uttar Pradesh” is a property hub that has come into the limelight is recent times due to the ever rising property prices in Delhi and NCR regions. Located barely 20 kilometres from the capital, Ghaziabad has over the past few years attracted realty investors who are looking at quality housing but are unable to afford property in the NCR regions.
For those prospective home buyers who are considering investing in properties in Ghaziabad but are unable to firm up their decision, we bring you four reasons to invest in this upcoming locality.
Ghaziabad is situated at a prime location where it is surrounded by highways and has multiple connectivity points with Delhi, Noida, Faridabad, and Meerut. The planned FNG expressway and Link Road will create more connectivity points for the city. Additionally the metro with the three proposed Metro links – from Dilshad Garden to New Bus Stand (Ghaziabad), and from Noida City Centre to Indirapuram via Noida Sector 62 will further boost the connectivity of this neighbourhood.
2) Government investment for infrastructure development
Recently, the Uttar Pradesh government announced a package of nearly INR 3,500 crore for Ghaziabad from which INR 750 crore was allotted to infrastructure development around the city. This included projects such as water treatment plant, rainwater harvesting facilities, hospitals, schools and colleges, intra-city connectivity through Metro and Mono rail, rapid metro services, and a network of roads, all of which will definitely lead to the improvement of the city and attract more home buyers looking to invest in apartment for sale in Ghaziabad.
3) A green city
Many prospective homeowners often back out of investing in properties in Ghaziabad due to the high pollution levels. However, to tackle this significant problem, the Uttar Pradesh Pollution Control Board is planning to introduce a continuous ambient monitoring system that will display real-time analysis of air pollution levels. The total cost of this project is pegged at around INR 1.1 crore and will be shared equally by the central and state boards. Additionally the GDA has declared 500 acres along Hindon as a green belt, banning all construction and thus ensuring vast green spaces in Ghaziabad.
4) Quality housing at affordable rates
One of the best things about investing in apartment for sale in Ghaziabad is that it combines the benefits of both affordable housing and comfortable living. According to a recent report, the affordable residential clusters in Ghaziabad are in the average price range of INR 2,200-3,500 per sq ft. The upper end of the range is commanded by projects which are completed or close to completion in Crossings Republik, while the newer projects in NH-24 are in the lower price band of INR 2,200-2,600 per sq ft. The Raj Nagar Extension corridor on NH-58 is also priced in the INR 2,600-3,000 per sq ft range. Compared to other parts of Delhi NCR, these rates are highly affordable.
Today, Ghaziabad has become one of the fastest growing destinations in the country. The rising rentals and the urban density of Delhi is now pushing people to invest in properties in Ghaziabad, a neighbourhood that is slowly cashing in upon the opportunity due to its improved connectivity, infrastructure, and affordable rentals. (First on Oct 16, 2014)