National Highway 24 or NH-24 is one of the major highways in India. It is 438-km long and runs from Delhi to Lucknow, passing through Sitapur, Hapur, Ghaziabad, Bareilly, Moradabad, Bareilly, and Shahjahanpur on the way. Along NH-24 in particular, the part of the highway in Ghaziabad is flanked by modern and cosmopolitan residential complexes, plots of land, and commercial establishments, all perfectly positioned to take advantage of the population and market boom that is taking place in this fast-developing area.
The infrastructure along NH-24 is rapidly improving, and the land and housing prices are still relatively affordable, which has led to a high demand for residences in this region. The pricing of real estate projects here is among the lowest in the whole of the Delhi-NCR region. NH-24 is also strategically located to provide high connectivity to the surrounding hubs of Delhi, Noida, and Ghaziabad, making it a prime location for commercial holdings and office spaces.
An added advantage of living along NH-24 is the newly developed and developing townships in the area. These townships are self-sustaining units, with most of them containing all the necessities and luxury amenities, and even their own supermarkets and schools. They also offer a variety of residences within them, from independent houses to apartments, all at a range of price points.
Plans to widen the highway, the proposed extension of the Delhi Metro, and the plans for Eastern Peripheral Expressway are all major factors for real estate along NH-24 becoming so popular. Apart from accessibility and infrastructure, the area also offers a huge number of malls, hospitals, supermarkets, and hang-out spots. It also has reputed schools and colleges in the area, some of which are Ryan International School, Brightland School, Sunder Deep Group of Institutions, SIMS Management College, and NIMT School.
Key Projects in NH-24:
|Adithya Luxuria Estate|
|Rise Organic Homes|
|Adithya Urban Homes|
|Panchsheel Premium 24|
|Land Craft Dinesh Nagar Phase II|
|Wave Executive Floors|
|Wave Dream Homes|
|Wave Floors Premium|
|IRS Ishaan Shrishti|
|Jaipuria Sunrise Green Plots|
|Mahagun Puram Phase II|
|Aditya Park Town|
|HighTech Welcome City 2|
|Rise Organic Ghar|
Connectivity and Transit Points
Connectivity is one of the major advantages that the NH-24, Ghaziabad area offers to residents who have their own modes of transport. The hotspots of Delhi and Noida are only a short drive away, thanks to the highway.
Cabs are a particularly good option for travel here. They are useful and cost-effective, especially for long distance travel.
There’s no metro that connects this area to other parts of the state. However, there are plans to extend the Delhi Metro to include this locality as a station. For now, the nearest metro station is at Vaishali, about 12 km away. Indira Gandhi Airport is about an hour and thirty minutes away by car, which is a distance of approximately 40 km.
Ghaziabad Railway Station is only about 3 km away from NH-24. Commuters can also use this station for daily travel to and from Ghaziabad to other areas in the NCR region using the local electric trains.
Factors for Growth in the Past
The area along NH-24 was originally regarded as too remote an area to be of any interest in terms of real estate development. The launch of Crossing Republik and the sudden, rapid development in Indirapuram led to the area being viewed as prime real estate area. Another factor was land acquisition in villages along NH-24 like Shaberi and Dundahera, which took place between 2004 and 2009.
Once residents began moving into the integrated townships that came up here, a market for commercial services was created. Subsequently, several retail establishments, restaurants, and other businesses dedicated to the services industry also came up in the area.
This kind of infrastructural development, along with the huge advantage of connectivity to nearby commercial hubs, thanks to the national highway, caused the development and expansion of the NH-24 stretch in Ghaziabad.
Residential & Commercial Market
Residential Market Trends
Thanks to the modern, cosmopolitan lifestyle that has been created along the residential market in NH-24 is booming. The integrated townships in the area offer a wide variety of housing options, all at competitive prices. The availability of schools, ATMs, hospitals, and banks in the area have all contributed to the steady appreciation of real estate prices in the region.
Townships like Aditya World City offer luxurious deluxe apartments in a gated community that boasts of modern planning and a wide range of amenities. Prices in the first quarter of 2013 were approximately Rs 3,000 per sq. ft. They appreciated to Rs 3,297 per sq. ft. by the end of 2013, and jumped to Rs 3,343 per sq. ft. by the second quarter of 2014.
Commercial Market Trends
The growth in the commercial and retail sector of NH-24 has led to an appreciation of commercial space prices. Commercial shop space is available at around Rs 3,000 per sq. ft., but can also be found at prices as high as Rs 7,800 per sq. ft. if the space is in a luxury area like Wave Gallery.
The main problems with living in the NH-24, Ghaziabad area are due to the excessive traffic on the highway, since it’s one of the most congested highways in the country. Traffic jams are common, and noise pollution close to the highway is high. There’s also a lack of public transport on the road, making owning your own vehicle a must if you live there.
Garbage dumping has also been an issue for some residents, since a dumping ground has been proposed close to Crossing Republic. There have also been a few incidents of petty crime, like carjacking, in the area.
Factors for Growth in the Future
The proposed extension of the Delhi Metro up to Ghaziabad New Bus Stop, the plans to widen the highway, and the plans to build underpasses and improve the infrastructure for public transport will all cause NH-24 to realise its full real estate potential in the coming months.
Its accessibility, being equidistant from South, North, and Central Delhi, and its enjoyable social scene, with a multitude of malls, hotels, shops, and hang-out spots nearby, mean that there will be a continued influx of residents in the future. This will put an added pressure on the area for both housing and commercial establishments, which will lead to their expansion, as well.