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Meerut, UP : Real Estate Prospects

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Meerut, UP : Real Estate Prospects

Last updated: January 1 2016
13 | Posts
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  • #11

    #11

    Re : Meerut, UP : Real Estate Prospects

    Visited this place yesterday,Location is good not much far from Delhi Road. Airforce housing board allotted these flats on 1680 Per Sq Ft.Right now no civilian can purchase these flats.
    Retired air force person can sell after 2 year and other after 3.Project would be completed in net 9 -10 months.

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    • #12

      #12

      Re : Meerut, UP : Real Estate Prospects

      The connectivity factor

      TNS

      With the recent inclusion of three more districts in the elite NCR club in order to ease the pressure on the national Capital, a very pertinent question being raised is whether the NCR cities will get fast and good connectivity with Delhi?

      Connectivity, in fact, is one of the major factors that drive the real estate growth of any area by bringing in more and more people to inhabit the new developments. In this regard, however, the report card of many NCR towns is very poor. For instance, take the case of Meerut. It has been a part of the NCR for the past several years, but the connectivity between Delhi and Meerut, which is arguably the most important city of Western UP, is appalling.

      “Commuting daily between Delhi and Meerut is nothing short of a nightmare”, says Delhi-based senior journalist Sanjay Srivastava who owns a spacious apartment in Meerut but is currently living in a rented accomodation in Noida. “I would definitely like to shift to Meerut sooner rather than later, but commuting there on a daily basis is a huge issue. While it is barely 70 km from Delhi, it takes not less than three hours to reach Meerut. With strict deadlines of my job, I can’t travel for six hours daily,” he adds.

      “While it is true that Meerut has good schools, markets, hospitals and a thriving sports-goods industry, it is still not going to the next level due to poor connectivity it has with Delhi,” says R.K. Arora, MD of Supertech.

      “If you talk about the NH-58 from Delhi to Meerut, you would realise how bad it is with congestion all around. It passes through Ghaziabad, Muradnagar and Modinagar. With Kanwariya time is on, it is really difficult to use this highway. Till it is not widened and super-fast train start operations, things look really bleak for Meerut,” says Shahid Chaudhry, a Meerut-based journalist and writer.

      Demand keeps hope up


      In spite of bad connectivity, it is the demand-supply equation that has been keeping the realty prices buoyant in Meerut. “In spite of bad connectivity, the prices have trebled in the past two years in Meerut. The main part of the city is highly congested and suffers from infrastructure and crime-related problems. But, there is great demand for quality housing on the outskirts. One of the most favoured locations is along the Meerut bypass”, says Devinder Gupta, MD of realty advisory Century 21 DGS.

      “Meerut offers a cost-effective option to people who can’t afford to buy an apartment in Delhi but want to remain near the city. The price of residential units in the secondary market ranges from Rs 1,800 per sq ft to Rs 2000 per sq ft.,” says Sunil Jindal, CEO of SVP Developers.

      The game changer


      However, the recent decision of the Union Cabinet to approve an ambitious plan to run high-speed trains between Delhi and Meerut has brought some hope for people like Srivastava who wish to shift to Meerut or have property there. The Cabinet has approved the setting up of a company —National Capital Region Transport Corporation (NCRTC) — to execute the Rs 78,000 crore Rapid Rail Transit System (RRTS) that will cut the travel time between Delhi and the Meerut by half.

      The trains will cover a distance of 90 km between Delhi and Meerut in 63 minutes. This will be the first phase of the RRTS that is expected to become operational by 2017.

      It goes without saying that Meerut will witness a boom in the real estate market as and when fast train will be operational and large number of Dilliwalls will seriously think of shifting there. Meanwhile, developers like Supertech Group, MSX Developers, Era Group, Antriksh, Majestic Properties, Ansal Housing & Construction, Parsvnath, DLF and Omaxe either already have projects there or are planning to launch new ones.

      Other factors


      Power and water supply are some of the other factors that a homebuyer looks at before investing in a particular place and in most of the NCR towns the power and water situation is very bad. Meerut, too, has seen bad days but according to the authorities, Meerut is likely to have better power supply as the high transmission line of the Power Grid Corporation between Agra and Meerut was put on execution mode after a long wait recently. The 765 KV single circuit line will boost the power infrastructure in Meerut as well as in major parts of the NCR. Hopefully, it will help improve the power supply to the industrialised areas, besides providing power to the residential areas.

      It is high time that the stakeholders make an all-out effort to improve the road and rail connectivity between Delhi and Meerut as well as other NCR cities without wasting any time. In the absence of efficient connectivity, the goal of NCR region will remain on papers. In nutshell, one can say that with good connectivity, real estate thrives in Meerut.
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      • #13

        #13

        Re : Meerut, UP : Real Estate Prospects

        Can anyone update me on the current plot prices in Shatabdi Nagar? I'm looking to invest there. Any reliable inputs would be greatly appreciated.

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        • #14

          #14

          Re : Meerut, UP : Real Estate Prospects

          Delhi-Meerut Expressway to boost NCR property market: CREDAI

          NEW DELHI: The construction of Delhi-Meerut Expressway at cost of Rs 7,566 crore will have a positive impact on the housing supply and demand in the NCR property market, realtors' apex body CREDAI said today.

          Prime Minister Narendra Modi today unveiled a plaque to mark the laying of the foundation stone of the Delhi-Meerut Expressway to be built at a cost of Rs 7,566 crore that includes construction of 28 km long 14-lane Delhi-Dasna section.

          "It is a very good development. Th ..

          Read more at:
          Delhi-Meerut Expressway to boost NCR property market: CREDAI - The Economic Times
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