Ghaziabad Real Estate On Growth Mode in 2014

Ghaziabad caters mostly to the mid-segment and affordable housing segments until the recent past that has changed the way we look at the Ghaziabad realty market. Properties in Ghaziabad although mostly comprise of mid segment housing and suburban areas include affordable housing units, luxury segment which was earlier ignored has taken center stage. 

Today there is an increasing demand for luxury projects in the city of Ghaziabad. Localities like Indirapuram have been in the forefront of luxury real estate in the region with many new luxury apartments in Indirapuram being announced by builders in the recent past. Rohan Sharma of JLL India explains further that, “Ghaziabad caters primarily to the mid-segment and affordable housing segments. It is home to establish housing clusters such as Kaushambi, Vaishali and Indirapuram while upcoming residential corridors include Raj Nagar Extension and developments along the NH-24 beyond Indirapuram, including the Crossings Republic Township. 

 While lack of land options has restricted new launches in the Kaushambi, Vaishali and Indirapuram clusters, they being already developed to a great extent and with a large existing residential population, these residential clusters have also recorded healthy capital appreciation.” Recently most project launches in the area has been restricted to upper mid segment and premium projects in the locality. Today top localities like Kaushambi, Indirapuram and Vaishali sell new properties in Ghaziabad for a rate price of INR 4900 to 5500 per sq. ft. 

Apartments in Indirapuram, Vaishali and Kaushambi command the highest rentals and selling price of properties in the region. Few project in the areas like NH 24 and the emerging area of Crossing Republic come for a price of INR 2500 per sq. ft. on an average. Raj Nagar Extension and projects along the NH 58 are also priced at nearly the same band as Crossing Republic. Properties in Ghaziabad will continue its streak of capital appreciation as Noida and Noida Extension projects start to charge higher selling price for apartments and villas in the region. 

The future of Ghaziabad real estate seems bright for now. Areas like Indirapuram, Kaushambi and Vaishali will witness a price hike in terms of capital appreciation of properties at the same time the affordable housing sector will stay intact in the region. The metro route and its extension upto Ghaziabad will have a greater impact on the industry. However if real estate experts are to be believed, the pricing in the market will mostly remain stable over the years. Stability and an end user driven market will be the peg of development and sales in this market. The lower income ladder will still be able to afford homes in its new developing areas like Sahibabad, NH 24, GT Road and Raj Nagar Extension. 

Early investors will also enjoy a reasonable amount of capital appreciation in the mid segment and affordable housing bracket. The realty market shows a lot of potential and promise. In fact it seems that Ghaziabad remains the most positive market in the national Capital region right now.