Ghaziabad: The ‘Dark Horse’ of NCR in 2015
Ghaziabad outstripped Greater Noida this year as the top region with maximum launches in the affordable category.
In real estate, we often hear, ‘for any real estate region to grow, infrastructure and connectivity serves as the backbone’. Be it the inception of metro rail or any highway, real estate is the first thing that gets a shot in the arm. This is exactly what made Ghaziabad evolved as most the promising market in the year 2015.
Centre’s nod for road widening of NH-24 towards Ghaziabad was one of the major factors driving growth in the city. A total of about 20,000 units were launched in the city, as per “NCR Real Estate in 2015,” a yearly report published by CommonFloor.com. Prominent markets in the city are Raj Nagar Extension, NH-24, Krishna Vihar, among others.
What’s Available?
The city offers all property types when it comes to buying. From plots to multi-storey apartments, there are a plethora of options to select from. Out of the new launched units in 2015, 82 per cent were apartments, followed by plots with 17 per cent per cent.
What’s the Budget?
Now if you think, affordable properties are a thing of past in Delhi NCR, then think again! In contrast to 2014, Ghaziabad outstripped Greater Noida in 2015 as the top region with maximum launches in the affordable category. As per CommonFloor Real Insights, on an average the capital values range anywhere between Rs 2,500-3,200 per sq. ft.
At present, about 66 per cent properties in the city are in affordable segment, followed by 20 per cent in mid-segment and just 14 per cent in the luxury segment.
What’s in for Investors?
While end-users can buy an apartment decked with plush amenities, for investors there are plots and layouts. Strikingly, out of the total supply of plots and layouts in the entire NCR, Ghaziabad saw maximum new supply. Since plots always score better over other property types, there is a lot that investors can look at Ghaziabad for.
That’s not all! Once can also fetch good rental returns. As per research, properties in Ghaziabad clocks rental yield of about 2.3 to 3.2 per cent.
Why Ghaziabad?
Realistic Property Values: Affordability and growing infrastructure has significantly catalysed realty demand in Ghaziabad. This is also the reason as to why several IT professionals working in Noida and Delhi prefers Ghaziabad.
Accessibility: Ghaziabad is strategically surrounded by Noida, Delhi, Faridabad and Meerut. The location advantage of the highway and the direct link with Delhi, Noida and other areas of Ghaziabad makes it potential destination. Moreover, the planned and under construction FNG Expressway and the Link Road will further enhance the connectivity of the city in the times to come.
Upgrades in the Pipeline: Proposed metro links that include Dilshad Garden to New Bus Stand (Ghaziabad), Noida City Centre to Indirapuram via Noida Sector 62.
Pay your Property tax Online: The Ghaziabad Municipal Corporation in June, 2015 extended online property tax payment facility to the entire city. Thus, one can just generate bills and pay online instead of visiting zonal offices.
