Modinagar To Embrace Sustainable Realty

Modinagar, which is a leading industrial city in Ghaziabad, is all set to become a thriving real estate destination, due to its fast developing infrastructure and easy availability of the most economical land.

Founded by one of the great industrialists of India, late Rai Bahadur Gujarmal Modi in the year 1933, the city has already come of age, and become the most sought-after location for people looking for owning a home, or a commercial property within their capacity.

When the leading real estate experts maintain that prices of land and properties are increasingly getting out of reach for lower and middle classes in most of the real estate destinations in Delhi and NCR area, Modinagar, located just 36 Km away from the national capital, has emerged as a potential destination and is ready to embrace the budget property seekers.

That the city is economical is not the only reason why people are becoming more interested in the real estate of this city. Actually, their interest has aroused, because there are massive infrastructure development plans in the offing for this city.

High speed connectivity

Both central government and state government have unleashed flurry of infrastructure projects, including the Rapid Rail Transit System (RRTS) or Rapid Rail between Delhi and Meerut.

Located on NH-58, thousands of people already travel between this industrial city and Delhi everyday for jobs and business purposes. At present, the people use local EMUs, chartered and U.P. Roadways buses and 8-seaters to ply between Modinagar and Delhi. Also, most of the major express trains as well as all general passenger trains from Delhi to Meerut -Haridwar-Dehradun route stop at the Railway station of this city.

However, RRTS has been envisioned to considerably reduce travel time to Delhi. Once the Rapid Rail is operational, it is expected that the residents of Modinagar will be reaching Delhi in less than 30 minutes.

Moreover, as per the plans, Modinagar will also be connected to Delhi, through Delhi-Meerut expressway in near future. These two modes of transportation will have huge impact on sentiments of market and property market prices will receive huge push. The future prospects make the city a real estate destination with huge growth potential for both individual buyers and investors.

A buzzing destination

Once only known as a booming industrial city, Modinagar has changed over the years. Now the city has also become a well-known educational hub and boasts of many private engineering, dental, management, para-medical and educational schools and colleges.
Over twenty medical and engineering colleges are already providing world class education to the deserving students in the city.

These include Dr. K.N. Modi Institute of Engineering and Technology, Dr K N Modi Institute of Pharmaceutical Science and Research, KNGD Modi Engineering College (KNGD), Divya Jyoti College of Paramedical Sciences, Center for Management Development(C.M.D),Modi Science & commerce Inter College (founded in 1942 and was inaugurated by the first Prime Minister of India- Jawahar Lal Nehru in 1952 ), Modinagar Institute of Technology, Multani Mal Modi Post graduate Degree College. Rukmani Modi Girls Inter College, Dayawati Modi Girls Degree College, Institute of Teacher Education (ITE) and The Institute Of Fine Arts, among others.

Also, St.Teresa’s Academy, Dayawati Modi Public School, Green Land Academy, Heritage Academy, Modern Academy and Cambridge public school are just to name a few well known schools in the city. With the passes of time, the age old jewellary and ready-made garments business of the city has also gained momentum.

Modinagar also has a great reputation in the field of medical facilities. Most of the prominent hospitals and medical stores are located in the city. In a nutshell, Modinagar has all the right ingredients required for pushing the real estate growth.

Future outlook

When compared to Delhi, Noida, Ghaziabad and other parts of NCR, the available property in Modinagar is much cheaper, and therefore, its demand is increasing day by day. Looking at the flourishing property market at here, most of the leading real estate developers of NCR have started showing keen interest in the city, and some of them have even already launched their world-class projects.

Sound infrastructure, peaceful environment and strategic location (Delhi-Haridwar Highway) are the factors which are fuelling growth of property market in Modinagar. Shifting focus of domestic industrial houses and MNCs towards Tier-2 and Tier 3 cities has also helped generating demand for property in Modinagar. This increasing demand has also led to the leading developers of NCR to plan and launch their residential as well as commercial projects in the city. So much so, that the real estate profile of the city is now ready to take a giant leap forward.

Vishwa Nath Agrawal

A real estate expert, Vishwa Nath is a graduate in Civil Engineering and meritorious Post Graduate in Structural Engineering from IIT Roorkee.

The views expressed in this article are author´s own