Ghaziabad A Booming City haziabad one of the satellite cities of the National Cap industries and corporates converging into Ghaziabad thus by qqx20571


More Info
									            Ghaziabad -
            A Booming City
                      haziabad, one of the satellite cities of the National Cap-    industries and corporates converging into Ghaziabad, thus

          G           ital 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
                                                                                    making it one of the promising business destinations of India.
                                                                                    The city today boasts of nearly 15,000 industrial units of all lev-
                                                                                    els, there are also manufacturing units run by large companies
          among the ten hottest and dynamic cities in the world. This               like ITC and the multinational giant Coca Cola, not to mention
          positioning of Ghaziabad on the world map comes following                 the foray of several IT companies.
          the most recent survey conducted by the United Nations for
          cities with population exceeding 7.5 lakhs.
                                                                                    GHAZIABAD - CRADLE OF BUILDERS
            Ghaziabad is strategically located on the Grand Trunk road.              Though Ghaziabad is currently undergoing a state of meta-
          However, it scores over other similar cities due to its easy con-         morphosis in matters of investment, there has been a tremen-
          nectivity with Delhi, the national capital, and the rapidly indus-        dous boost in its real estate growth. Ghaziabad has been a cra-
          trialized city of Noida. As these three cities of Delhi, Noida and        dle for a lot of builders, be it Eros group, Ajnara, Ashiana, Eldeco,
          Ghaziabad are now considered as the triangle of industrializa-            Ansals, Supertech or Amarpali. These builders have all started
          tion and economic growth; it is also one of the many reasons for          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 com-
                                                                                                          pleted projects and Rs. 2700 -to 3700 per
                                                                                                          square feet for under-construction proj-
                                                                                                          ects the scenario has a fairly stable out-
                                                                                                          look. At a stone-throwing distance from
                                                                                                          Delhi border, this argues well that with
                                                                                                          inquisitive development this zone is rife
                                                                                                          with many townships offering luxury con-
                                                                                                          dominiums and multiplexes.

                                                                                                          WHY GHAZIABAD?
                                                                                                            People interested in buying Ghaziabad
                                                                                                          properties have a valid reason of doing so

24   GroundTruths I March - April 2009
as in the current times it is one of the hot destinations for
investment in real estate. Ghaziabad property market is wit-
nessing 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. Con-
struction of 7 multi-level mechanized car parking located
across Ghaziabad, clover leaf at GT road at Mohan Nagar, anoth-
er clover leaf at NH-24 UP gate, 9 subways, overbridges and fly-
overs, 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.                                      scape. Indirapuram properties, apartments and flats now com-
                                                                        mand high prices.The main reason as to why Indirapuram prop-
GHAZIABAD - CLUSTERS                                                    erties have received so much appreciation is its improved con-
 Ghaziabad has witnessed development in clusters, which has             nectivity with the commercial centers in Delhi, Noida and South
led to sustainability and organized development. The clusters           Delhi.
have developed their own commercial activities and are wit-
nessing further improvement in facilities.                               With a total of 90 projects, out of which 66 have been com-
                                                                        pleted and 24 under construction, having occupancy rate of
                                                                        72%, making over 26,394 flats, with rates varying between Rs.
INDIRAPURAM                                                             1900-4200 per square feet, Indirapuram properties have no
 Indirapuram properties have received appreciable attention             doubt opened a new investment option for all the residents
from all the segments of Real Estate in Ghaziabad. Indirapuram          and even Ghaziabad Development Authority is undertaking
was once a sleepy pocket in Ghaziabad that did not have much            major steps in this direction. Owing to the real estate develop-
significance. However, the present status of Indirapuram prop-          ment in Indirapuram, we find an increase in the number of real
erties has a different story to tell. Today, Indirapuram properties     estate agents and property dealers and building contractors, as
have attracted the leading Housing Companies like Gaur                  their services have been very much in demand. In fact, with the
Builders, Ashiana, Assotech etc. to undertake swanky construc-          onset of sprawling malls and multiplexes in Indirapuram, com-
tions in Indirapuram. As it is always said, real estate is the mirror   mercial properties have received a boom just as the demand for
of any city's development; Indirapuram's unprece-                       residential properties has increased.
dented rise in real estate and property
development has made it develop
faster in terms of infrastruc-                                          KAUSHAMBI
ture and commer-                                                                 Flats in Kaushambi have been in great demand owing to
cial   land-                                                                         their affordable rates and the facilities they provide
                                                                                           to meet the general requirements of a com-
                                                                                                 mon family. Such flats or apartments are
                                                                                                       best suited to working profession-
                                                                                                             als who have just begun
                                                                                                                   their career and can-
                                                                                                                          not     afford       to

                                                                                                                       March - April 2009 I GroundTruths   25
Ghaziabad Property Trends
                            Locality               Bedroom Size                            Rates Rs./sq. ft.    Price range              Rental Rs. Month
                            Indirapuram            1br(500-671 sq. ft)                     1900-4200            1br 14-30 Lakh          1br(4000-6000)
                                                   2br(700-1450 sq. ft.)                                        2br 25-50 Lakh          2br(5500-11000)
                                                   3br(1200-2450 sq. ft.)                                       3br 40-65 Lakh          3br(8000-15000)
                                                   4br(1400-3200 sq. ft.)                                       4br 50-100 Lakh         4br(10000-20000)
                                                   PTH(2400-4455 sq. ft.)
                            Kaushambi              2br(875-1526 sq. ft.)                   2000-4160            1br 20-30 Lakh          1br(5000-8000)
                                                   3br(1500-2247 sq. ft.)                                       2br 30-45 Lakh          2br(5500-12000)
                                                   4br(2600 sq. ft.)                                            3br 40-70 Lakh          3br(7000-14000)
                            NH-24                  2br(1000-1568 sq. ft.)                  1980-2500            2br 20-32 Lakh          N/A
                                                   3br(1425-2294 sq. ft.)                                       3br 30-45 Lakh
                                                   4br(1940-2656 sq. ft.)                                       4br 42-60 Lakh
                                                   PTH(3923-4486 sq. ft.)
                            Raj Nagar Ext.         1br(877 sq. ft.)                        1738-2225            1br 18-20 Lakh          N/A
                                                   2br(950-1415 sq. ft.)                                        2br 22-30 Lakh
                                                   3br(1400-1895 sq. ft.)                                       3br 25-35 Lakh
                                                   4br(1940 sq. ft.)                                            4br 35-45 Lakh
                            Vashali                1br(341-850 sq. ft)                     2700-4500            2br 30-47 Lakh          1br (3500-6500)
                                                   2br(840-1250 sq. ft.)                                        3br 40-70 Lakh          2br (6000-10000)
                                                   3br(1250-1865 sq. ft.)                                       4br 50-95 Lakh          3br(8000-12500)
                                                   4br(2250-2400 sq. ft.)                                                               4br(14000-19000)PTH
                                                   PTH(2580-2600 sq. ft.)
                            Vasundhara             2br(900-1425 sq. ft.)                   2500-3400            2br 30-40 Lakh          2br(4500-8000)
                                                   3br(1370-2043 sq. ft.)                                       3br 45-60 Lakh          3br(6500-10000)
                                                   4br(1450-3600 sq. ft.)                                       4br 55-90 Lakh          4br(7500-11000)
                                                                                                                                         Source: AUGTICS

                            own or rent a larger house.                                                of Ajnara farms and services Limited, Assotech Limited, Gaur-
                             The flats available in Kaushambi are provided with numerous               sons India Limited, Mahagun Developers Limited, Panchsheel
                            features, such as lush green surroundings, parking space, com-             Promoters Limited, Paramount Residency Private Limited and
                            munity halls, clubs, recreation houses, playgrounds, parks, lifts          Supertech Limited, has given new shape to Ghaziabad skyline.
                            and elevators, safe drinking water facilities and 24-hour power            The further development of Ansal Aquapolis opposite Crossing
                            backup, to name just a few. With all the 12 projects completed             Republik and the development of Golf Links just 2 km from
                            in Kaushambi, aggregating 3531 flats, having a high occupancy              Crossing Republik adds to the composite development of this
                            rate of 82%, and rates varying between Rs. 1900 -and 4200 per              area.The proximity of NH-24 to Noida and Greater Noida signif-
                            square feet, this is an excellent location for any buyer. Proximity        icantly enhances its value. This area has 24 ongoing projects
                            to Delhi, Metro at the doorstep and lots of malls to move                  creating an inventory of over 16,000 flats. With rates varying
                            around makes Kaushambi an excellent investment proposition.                between Rs. 2000 and 2500 per square feet, it makes an afford-
                                                                                                       able buyout. This stretch also has conveniently located educa-
                                                                                                       tion institutes, banks and hospitals along with other necessary
                            DEVELOPMENT ON NH-24                                                       commercial establishments taking care of basic amenities. The
                             NH-24 has gained significant importance in the Ghaziabad                  project once completed will permanently change the outlook
                            landscape. With India's first global city Crossing Republik, Ansal         for the region.
                            Aquapolis and Golf Links dawning the Ghaziabad skyline, it has
                            become the hotspot for property buyers.                                    RAJ NAGAR EXTN.
                                                                                                         This is one of the Delhi NCR's most well-planned cities that
                             Crossing Republik, a consortium of seven builders consisting              has great connectivity with Delhi as well as Noida, Greater Noi-

  26          GroundTruths I March - April 2009
da, 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 Ghazi-
abad, 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. Accord-
ing 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 Ghazi-
abad authority to augment the development work in the area.            vided the provision of having all four sides open contrary to
                                                                       Indirapuram and Vaishali.This area presents wide roads with vir-
                                                                       tually no encroachment and there are no villages in this colony.
VAISHALI                                                               Most of the areas are plotted development so living in a high
 Vaishali is among the most sought after residential accommo-          rise would be a pleasure experience here. Excellent town plan-
dations. This is because such flats are affordable to own or rent.     ning by Awas Vikas is the biggest attraction.
Vaishali is now one of the most important construction ground
for many real estate developers. Moreover, with the rising              All odd numbered sectors are located on the canal side and
growth of Ghaziabad real estate, the tempo of construction             even numbered are along the Link Road. A 150 square feet wide
activities in Vaishali is also moving up at a much faster rate. This   road separates the two sides. Sector 7 is designated for institu-
trend is ensuring the availability of every kind of housing            tions. All major malls (EDM, Shipra, Pacific) are located within a
accommodations. According to Augtics,Vaishali has 39 projects          radius of 2 to 4 kms. Vasundhara has an inventory of over 9,000
off the ground, has an inventory of over 6,000 flats, out of which     flats in 54 projects. 41 of them are complete. Rest 13 projects are
23 have been completed.With occupancy rate of 58% and rates            in various stages of completion.The rates here vary between Rs.
of Rs. 2700-4500 per square feet, it makes for a sound invest-         2500 and 3400 per square feet and the location has 61% occu-
ment decision. As the real estate is growing, so are the other         pancy. The advent of Metro in this region, Anand Vihar bus ter-
commercial sectors that provide real estate services. With             minal just minutes away and to top it all Anand Vihar railway
schools in the vicinity, Metro making its presence in near future      station being converted to an important termination junction
and other amenities like banks, hospital, shopping malls, etc.         for Delhi, all point towards an intelligent investment option for
catering to everyday needs, it is an ideal location for people to      prospective buyers.
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             CONCLUSION
over Rs. 14,000 for 4 bedroom apartments.                               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
VASUNDHARA                                                             to provide basic amenities through government channels.
 The most important aspect of this area is that it has ready-to-       These developments have been highlighted in various
move-in properties in the secondary market. Apart from the old         studies that have brought Ghaziabad under the focus
housing societies of Vaishali,Vasundhara offers newer construc-        worldwide. Augtics research indicates that an investment deci-
tions from private developers. There are lots of green areas in        sion in this city will reap substantially high returns in the
the entire region. Here all Group Housing plots have been pro-         coming years.                                                          G

                                                                                                                       March - April 2009 I GroundTruths   27

To top