Residential real estate hubs in NCR
Over the past few years, the migration to NCR and Delhi has increased many folds. This has also resulted in the immense increase in housing demand. But due to the limited availability in land resource and increasing price trends, NCR always need new areas for feasible development of affordable residential projects. So this led to urban agglomeration and slowly development started in many areas. These sub-urbs and satellite towns emerge as the new hubs for housing in NCR.
Noida-Greater Noida Expressway:
Already many housing projects are built in this stretch with world-class facilities at affordable prices. But unless the commercial and office space increases, there will not be effective utilization which will stagnant the housing supply. So commercial and office space development is essential. Many developers took the advantage of low prices and started developing office spaces, but the development still in the novice stage. Once the IT companies start developing here, there will be a shift in migration towards Greater Noida increasing the housing demand of this area.
Other than the above factors, connectivity also plays a major role for the development of these areas. Proposed Noida metro extension will lure many home-buyers to prefer Greater Noida as a good option considering its affordable prices. Road connectivity will also get a good boost once the FNG (Faridabad-Noida-Ghaziabad) Expressway and Yamuna Expressway will be in full operation.
National Highway -24:
NH-24 was first not seen as good option for real estate development. Developers and homebuyers always neglected the option of housing along expressways until ten years ago. Now Vaishali, Indirapuram and Kaushambi are acting as the housing hubs for NCR and are saturated faster than any other satellite town in NCR. Crossings Republik is another micro-market which was developed to provide affordable housing units with good social and physical infrastructure. To increase the demand of these areas and to make these areas better housing options for NCR market, UP government and GDA (Ghaziabad Development Authority) together started developing the physical infrastructure to cater the population of these areas. NH-24 being one of the most important highways for the connectivity to Delhi, proposals are given to increase the width of the road from Meerut to Delhi. It is proposed to widen the highway to 14-lane from Meerut to Delhi and Delhi-Dasna section is proposed to widen to 8-lane road. This will be a relief to more than 1 lakh commuters per day who travel through NH-24.
Bhiwadi:
Bhiwadi is also a preferred destination to a major fraction of migrants to NCR. Bhiwadi started as a housing option for all the industry workers along the National highway which includes IMT Manesar and the upcoming industrial development around IMT and National highway. Many home seekers prefer this location for better financial security and secure social life. This makes Bhiwadi a promising real estate destination. Being the major industrial hub, the standard of living here is considered better than that of other residential hubs in NCR. Recently many commercial establishments started to start in Bhiwadi such as Jaguar, Saroh India and OCCL. So along with industrial and residential development, commercial development will have a major impact in this satellite town.
