Tronica City- An emerging real estate destination
Tronica City, an integrated industrial township conceived in 1990s, is developed by the Uttar Pradesh State Industrial Development Corporation (UPSIDC) in Ghaziabad. The city is divided into 12 residential sectors and 8 industrial sectors.
Location
Tronica City is located in the north-eastern part of Delhi in Ghaziabad. It is located at around 17 km from centre of the National Capital Territory (NCT) Delhi through the Vikas Marg. Noida is located at 29 km from Tronica City while Gurgaon is located at 50 km from this place.
Tronica City is surrounded by areas including Vaishali, Rajendranagar, Defence Colony, Raj Bagh, Hindon Residential Area, etc.
Connectivity
Being located very close to Delhi and in proximity of GT Road and Loni Road, Tronica City is well connected to all the areas of the NCR. Indira Gandhi International Airport (IGIA) is at 36 km from Tronica City and New Delhi Railway Station is at 20 km.
Vaishali and Anand Vihar metro stations are located at about 8 to 10 km away from this place. The city can be easily accessed from Alipur-bund road along river Yamuna on the western side and also from the Delhi-Saharanpur road in the eastern side.
With the completion of the Wazirabad Bridge or the Signature Bridge project which is at about 10 km from Tronica City, it will have easy access to North Delhi. Four-laning of the Sonia Vihar Road, six-laning of the Delhi-Saharanpur Bypass, widening of the Delhi-Yamunotri Highway and the proposed Eastern Peripheral Expressway (EPE) will further boost the connectivity of this area. EPE will provide connectivity to Baghpat, Sonipat, Meerut, Ghaziabad and Faridabad, and it will further be connected to the Kundli-Manesar-Palwal (KMP) Expressway.
Real estate growth
Tronica City is in proximity to some of the established commerce and industrial centers. The area has been witnessing speedy growth in terms of real estate as well as infrastructural development following which many realty biggies have moved into the area with a range of residential projects. Both the supply and demand for properties in Tronica City seems to be growing steadily and the future seems to be quite promising in terms of residential and commercial sectors.
The city sprawling across 2,600 acres has well planned sectors for industrial, commercial, institutional, housing and group housing. It has well developed central park and good green coverage. Around 3,400 acres have already been acquired and another 1,200 acres has been planned to be acquired for the city in the next phase of development, which would give way to more residential projects in this place. As of now, around 750 housing units in Tronica are nearing completion while 300 units are already completed.
Like Noida and Gurgaon, Tronica City holds the potential of becoming a major real estate hub in the near future. It is much closer to Delhi compared to Noida and Gurgaon. As the population in Delhi is growing at a rapid pace and land scarcity is the prime issue hampering the city’s growth, it is likely that places close to Delhi such as Tronica City, wherein supply is high and rates are still affordable, are expected to boom.
Price factor
Since properties are available in an affordable price range, Tronica City is emerging as a new real estate destination for middle-class buyers. The properties are available in the price range of Rs 2,600-3,600 per square feet. Residential plots are available in the range of Rs 1,000 to 2,000 per sq ft. Apart from land availability and affordability, the developing infrastructure and fast connectivity of this area are other major aspects attracting realty investments.
Some of the leading real estate developers in Tronica City include- Ansal Housing, Swarneem Group, Mahavir Hanuman Group, RMS Group, Care Group, etc. Residential projects which are at various stages of construction in this area Ansal East End, RMS Swarneem Plaza, RMS Signature Residency, Alien Court, Hanuman Gram, River Park I, River Park II, etc. Realty experts said that the area has seen a good rise in demand in the past few months. The area offers safe investment opportunities for buyers and investors.
Availability of freehold properties
The plots will soon be granted ‘freehold status’ as the UPSIDC has recently agreed to the move, which is likely to benefit the property owners in Tronica City, after which they can sell, mortgage, and deal with it in any manner. Also there will be no expiry period for freehold properties. The authority is planning to convert leasehold property into freehold property by charging 25-30% conversion fee on the current market price of the land, said a report. Once the move is implemented, the property transaction process will be eased out. The buyers or sellers will neither have to obtain transfer of memorandum certificate, nor will they have to seek mortgage permissions from the authority while applying for bank loans.
