Ghaziabad, one of the satellite cities of the National Capital Region (NCR) of Delhi is located in the state of Uttar Pradesh, India. Formerly known as a sleeping industrial city, Ghaziabad has come a long way in securing its place among the ten hottest and dynamic cities in the world. This positioning of Ghaziabad on the world map comes following the most recent survey conducted by the United Nations for cities with population exceeding 7.5 lakhs.

Ghaziabad Residential Apartment Rates

Ghaziabad is strategically located on the Grand Trunk road. However, it scores over other similar cities due to its easy connectivity with Delhi, the national capital, and the rapidly industrialized city of Noida. As these three cities of Delhi, Noida and Ghaziabad are now considered as the triangle of industrialization and economic growth; it is also one of the many reasons for industries and corporates converging into Ghaziabad, thus making it one of the promising business destinations of India. The city today boasts of nearly 15,000 industrial units of all levels, there are also manufacturing units run by large companies like ITC and the multinational giant Coca Cola, not to mention the foray of several IT companies.

Ghaziabad – Cradle of builders

Though Ghaziabad is currently undergoing a state of metamorphosis in matters of investment, there has been a tremendous boost in its real estate growth. Ghaziabad has been a cradle for a lot of builders, be it Eros group, Ajnara, Ashiana, Eldeco, Ansals, Supertech or Amarpali. These builders have all started their real estate foray from Sectors 4 and 5 of Ghaziabad. This area boasts of 22 projects out of which 18 have already been completed, having 87% occupancy rate; this foretells the booming drive for this area. With rates varying from Rs. 2800 to 4000 per square feet for completed projects and Rs. 2700 -to 3700 per square feet for under-construction projects the scenario has a fairly stable outlook. At a stone-throwing distance from Delhi border, this argues well that with inquisitive development this zone is rife with many townships offering luxury condominiums and multiplexes.

Why Ghaziabad?

People interested in buying Ghaziabad properties have a valid reason of doing so as in the current times it is one of the hot destinations for investment in real estate. Ghaziabad property market is witnessing trends that suggest that employers, residents, traders and foreign investors, off late, are inquiring for transactions. People are willing to buy property in Ghaziabad mainly to avoid paying much higher rates in Delhi and to enjoy living away from the hustle and bustle of a metropolitan; yet be living close to the National capital for functional benefits. Metro is acting as a catalyst for this spiraling development; hence people work in Delhi and stay in Ghaziabad. Ghaziabad has managed to respond well to the sudden influx of people and capital into the realty sector. The upcoming Commonwealth Games 2010 has triggered a lot of action in the infrastructure development, retail and hospitality sectors in and around Ghaziabad. Construction of 7 multi-level mechanized car parking located across Ghaziabad, clover leaf at GT road at Mohan Nagar, another clover leaf at NH-24 UP gate, 9 subways, overbridges and flyovers, development of Anand Vihar rail terminal in the vicinity, and introduction of Metro in Ghaziabad will ease the traffic on roads leading to more development.

Ghaziabad – Clusters

Ghaziabad has witnessed development in clusters, which has led to sustainability and organized development. The clusters have developed their own commercial activities and are witnessing further improvement in facilities.

Indirapuram

Indirapuram properties have received appreciable attention from all the segments of Real Estate in Ghaziabad. Indirapuram was once a sleepy pocket in Ghaziabad that did not have much significance. However, the present status of Indirapuram properties has a different story to tell. Today, Indirapuram properties have attracted the leading Housing Companies like Gaur Builders, Ashiana, Assotech etc. to undertake swanky constructions in Indirapuram. As it is always said, real estate is the mirror of any city’s development; Indirapuram’s unprecedented rise in real estate and property development has made it develop faster in terms of infrastructure and commercial landscape. Indirapuram properties, apartments and flats now command high prices. The main reason as to why Indirapuram properties have received so much appreciation is its improved connectivity with the commercial centers in Delhi, Noida and South Delhi.

With a total of 90 projects, out of which 66 have been completed and 24 under construction, having occupancy rate of 72%, making over 26,394 flats, with rates varying between Rs. 1900-4200 per square feet, Indirapuram properties have no doubt opened a new investment option for all the residents and even Ghaziabad Development Authority is undertaking major steps in this direction. Owing to the real estate development in Indirapuram, we find an increase in the number of real estate agents and property dealers and building contractors, as their services have been very much in demand. In fact, with the onset of sprawling malls and multiplexes in Indirapuram, commercial properties have received a boom just as the demand for residential properties has increased.

Kaushambi

Flats in Kaushambi have been in great demand owing to their affordable rates and the facilities they provide to meet the general requirements of a common family. Such flats or apartments are best suited to working professionals who have just begun their career and cannot afford to own or rent a larger house.

The flats available in Kaushambi are provided with numerous features, such as lush green surroundings, parking space, community halls, clubs, recreation houses, playgrounds, parks, lifts and elevators, safe drinking water facilities and 24-hour power backup, to name just a few. With all the 12 projects completed in Kaushambi, aggregating 3531 flats, having a high occupancy rate of 82%, and rates varying between Rs. 1900 -and 4200 per square feet, this is an excellent location for any buyer. Proximity to Delhi, Metro at the doorstep and lots of malls to move around makes Kaushambi an excellent investment proposition.

Development on NH-24

NH-24 has gained significant importance in the Ghaziabad landscape. With India’s first global city Crossing Republik, Ansal Aquapolis and Golf Links dawning the Ghaziabad skyline, it has become the hotspot for property buyers. Crossing Republik, a consortium of seven builders consisting of Ajnara farms and services Limited, Assotech Limited, Gaursons India Limited, Mahagun Developers Limited, Panchsheel Promoters Limited, Paramount Residency Private Limited and Supertech Limited, has given new shape to Ghaziabad skyline. The further development of Ansal Aquapolis opposite Crossing Republik and the development of Golf Links just 2 km from Crossing Republik adds to the composite development of this area. The proximity of NH-24 to Noida and Greater Noida significantly enhances its value. This area has 24 ongoing projects creating an inventory of over 16,000 flats. With rates varying between Rs. 2000 and 2500 per square feet, it makes an affordable buyout. This stretch also has conveniently located education institutes, banks and hospitals along with other necessary commercial establishments taking care of basic amenities. The project once completed will permanently change the outlook for the region.

Raj Nagar Extn.

This is one of the Delhi NCR’s most well-planned cities that has great connectivity with Delhi as well as Noida, Greater Noida, Vasundhara, Indirapuram and Vaishali. The government has already started constructing a six-lane link road, which will act as a bypass for NH-58, around Ghaziabad. The link road starts just where the Hindon Bridge terminates on NH-58 after Ghaziabad, while transiting from Delhi. This city is pollution free, serene and affordable too. The city will have all the ultramodern facilities including shopping complex and multiplexes  in its surrounding. The new area, Raj Nagar Extension, is around 8 km from Indirapuram and 15 km from Delhi border. Apartments are being sold at the rate of Rs. 1750-2250 per square feet. According to Augtics estimate, over 7,000 apartments are likely to be built in the next three years. With the Metro touching Raj Nagar Extention as planned, the area is going to see a sea change in development activities. As compared to flats in Indrapuram, Vaishali and Vasundhara the rates at Raj Nagar Extention are cheaper. To escalate the developmental work in the region, builders have formed an association that is urging the Ghaziabad authority to augment the development work in the area.

Vaishali

Vaishali is among the most sought after residential accommodations. This is because such flats are affordable to own

orrent. Vaishali is now one of the most important construction ground for many real estate developers. Moreover, with the rising growth of Ghaziabad real estate, the tempo of construction activities in Vaishali is also moving up at a much faster rate. This trend is ensuring the availability of every kind of housing accommodations.  According to Augtics, Vaishali has 39 projects off the ground, has an inventory of over 6,000 flats, out of which 23 have been completed. With occupancy rate of 58% and rates of Rs. 2700-4500 per square feet, it makes for a sound investment decision. As the real estate is growing, so are the other commercial sectors that provide real estate services. With schools in the vicinity, Metro making its presence in near future and other amenities like banks, hospital, shopping malls, etc. catering to everyday needs, it is an ideal location for people to live in. Easy access to Delhi makes it an even more strategic location for the prospective investors, since it commands good rentals ranging from Rs. 3500 for one bedroom apartment to over Rs. 14,000 for 4 bedroom apartments.

Vasundhara

The most important aspect of this area is that it has ready-to-move-in properties in the secondary market. Apart from the old housing societies of Vaishali, Vasundhara offers newer constructions from private developers. There are lots of green areas in the entire region. Here all Group Housing plots have been provided the provision of having all four sides open contrary to Indirapuram and Vaishali. This area presents wide roads with virtually no encroachment and there are no villages in this colony. Most of the areas are plotted development so living in a high rise would be a pleasure experience here. Excellent town planning by Awas Vikas is the biggest attraction.

All odd numbered sectors are located on the canal side and even numbered are along the Link Road. A 150 square feet wide road separates the two sides. Sector 7 is designated for institutions. All major malls (EDM, Shipra, Pacific) are located within a radius of 2 to 4 kms. Vasundhara has an inventory of over 9,000 flats in 54 projects. 41 of them are complete. Rest 13 projects are in various stages of completion. The rates here vary between Rs. 2500 and 3400 per square feet and the location has 61% occupancy. The advent of Metro in this region, Anand Vihar bus terminal just minutes away and to top it all Anand Vihar railway station being converted to an important termination junction for Delhi, all point towards an intelligent investment option for prospective buyers.

Conclusion

Ghaziabad – a booming city — is developing in clusters and that has helped it immensely in its development. The builder associations in various clusters have influenced the authorities to provide basic amenities through government channels. These developments have been highlighted in various studies that have brought Ghaziabad under the focus worldwide. Augtics research indicates that an investment decision in this city will reap substantially high returns in the coming years.