The gateway of Uttar Pradesh, Ghaziabad, has now emerged as the hub of property development. With improved infrastructure and great connectivity, the Ghaziabad housing market has risen at a good speed. There are a variety of factors that contribute to the Ghaziabad real estate market. Ghaziabad is soon to develop as the next smart city in the coming future. The government has shown its keen interest in the development of a treatment plant, rain harvesting system, metro , and rail. The overall network will enhance the pipeline? Many organizations have shifted their focus on creating an office in Gurgaon, they have shifted to Noida. Because of this, the employment rate in Ghaziabad is going to rise.
Following are the reasons how Ghaziabad real estate market is benefiting?
1. Properties on offer in Ghaziabad
Ghaziabad has now become a favourable destination for real estate investment and it is all because of the variety of options offered by it. It is one of the biggest forms via which Ghaziabad is benefiting realty in the NCR. Ghaziabad real estate developers cater to all parts of the NCR, from luxury residential properties to affordable housing in Ghaziabad, all under one roof. If one is looking for affordable residential properties in Ghaziabad, their go-to choice would be Raj Nagar Extension. For people who belong to the middle class and opt for mid-range, their go-to place would be Indirapuram. At the same time, Vaishali is a place where all luxury houses, villas, and apartments are present. Not only this, Vaishali is comparable to Noida Expressway as both these regions have properties at the same rate. The new area introduced by Ghaziabad real estate developers is Siddharth Vihar, and the project is called an ‘automated smart home.’ The best investment Ghaziabad made was when Vaishali got introduced as one of the well-planned areas, and later on, the area became a destination for luxury residential . People who want to upgrade themselves to bigger apartments switch to this place as it also offers better amenities and good infrastructure. People belonging to the interior regions of Ghaziabad have now shifted here as it will bring them a little closer to Delhi. Vaishali also has good demand for leasing from IT companies and hospitals.
2. Returns on investment in real estate
Some areas like DLF Ankur Vihar, Indirapuram, and Ahimsa Khand 1 have experienced an increase in property rates compared to the last few years. This is what makes it a good time for people to invest in other areas like Vaibhav Khand, Govind Puram, or Vaishali Sector 1. It is because the prices of such properties are comparatively low, so the ones looking out for affordable accommodation can invest in them. People looking for rental returns from their investments can opt for co-living.
3. Property prices in Ghaziabad
Real estate experts predict that the prices of Ghaziabad and its nearby properties are going to rise in the near future as the location is closer to Delhi. Ghaziabad is safe for people who are planning on moving here. Also, the city offers great amenities and infrastructures like schools, colleges, malls, and hospitals. But the current scenario is that many projects are under insolvency. If lenders sell their properties at lower prices, the real estate market will decrease. Nevertheless, if external developers get involved, the prices are likely to rise, making it a profit motive behind the investment.
4. Infrastructure development around Ghaziabad
When it comes to connectivity, Ghaziabad will be well connected to Noida Electronic City in the future. Because of it, a robust increase in the rental market will be observed. Currently, the Delhi Meerut Expressway is partially working, and in the near future, it will bring small cities like Meerut and Hapur closer. This will be an open invitation for the real estate investors, thus uplifting the real estate market of NCR. Furthermore, the population of Ghaziabad is going to rise when the Elevated Road links the UP border with the Delhi Noida Direct Flyway.
Also read: Registration of Property in Delhi