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NH-24 near Ghaziabad now a realty hotspot

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NH-24 near Ghaziabad now a realty hotspot

Last updated: March 24 2012
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  • NH-24 near Ghaziabad now a realty hotspot

    Please read the below link.. from TOI.

    Delhi/NCR
    When we talk about Ghaziabad, the first picture that comes to mind is the development – residential and commercial – taking place near NH-24. Be it Shipra Mall or Aditya Mall, all these came owing to the good connectivity of the place and the residential developments taking place all around. It will not be wrong to say that this highway acted as a facilitator for Ghaziabad’s real estate market.
    Places that were seen as ‘not-so-chic’ for Delhiites in early 2000 turned out to be the most prized in the NCR. Another factor that is working to enhance the demand is the extension of the Metro line from Vaishali to Arthala.
    Some infrastructure projects in recent times like the Metro line and the Anand Vihar rail junction have enhanced the connectivity of these areas; a multilateral flyover at Ghazipur Chowk has also enhanced the area’s profile, making it a preferred destination for homebuyers. Indirapuram, Vaishali and Vasundhara are some of the areas in and around NH-24, which are selling like hot cakes.
    “These infrastructure developments will see an increase in residential demand and witness appreciation of prices. This will be the most sought-after address in the near future. With Noida office sectors in the vicinity, these areas witnessed fast habitation and became the development of choice rather than a default development,” Manoj Gaur, the managing director of Gaursons India Ltd, says.
    The interest
    NH-24 came into prominence with the launch of Crossings Republik, where many developers came together to provide affordable houses. According to a study, prices at Crossings Republik started at around Rs 1,800 per sq ft and, in one year, went up to Rs 2,000 per sq ft before dipping again to Rs 1,800 per sq ft in Q2 of 2009. Prices kept on oscillating from Q3 of 2010 and in Q1 of 2011 reached around Rs 2,100 per sq ft.
    “People have been responding well to the projects on this stretch, as was evident by the enquiries for all the projects. The recent launch of township projects in this part of the NCR is a welcome development. A township project takes around 10 years to take shape with wellplanned developments. Many current residents then could opt to relocate from the current congested parts and move to a planned, well-managed township,” Sanjay Rastogi, the director of Saviour Group, says. “Real estate development along corridors has become a trend across India. Transport corridors like national highways and state highways across India have witnessed significant real estate development during the real estate boom.
    The government has also helped in boosting and promoting industrialization in these areas. Combination of production units, public utilities, logistics, environmental protection facilities, residential areas, social infrastructure, administrative services and industrial areas has been systematically planned along corridors,” Manu Garg, the director of Landcraft, says.
    Prices in areas in and around NH-24 have seen good appreciation since 2005. For instance, prices in Q3 of 2005 at Indirapuram were hovering around Rs 2,000 per sq ft, while in Q2 of 2011 they stand above Rs 3,500 per sq ft.
    Improvements needed
    The stretch has several townships, like Wave City and Landcraft’s Golf Links, where people are showing interest. At present, access to the projects that are further down the highway is cumbersome, as NH-24 is one of the most congested national highway corridors in the country. The traffic on this road is expected to grow with more and more people occupying residential areas along NH-24, including Indirapuram and Crossings Republik, the two big sub-cities of Ghaziabad.
    Plans to widen the stretch and make it commuter-friendly are afoot, and once these come about, the accessibility to this place will improve. Another major problem is the paucity of public transport on the stretch, which means that owning a vehicle becomes a must. When you go further down the highway the expenses increase many fold.


    Source: Times Property in The Times of India, New Delhi
    Last edited March 9 2012, 10:39 AM.
  • #2

    #2

    Re : NH-24 near Ghaziabad now a realty hotspot

    FLATS ON NH-24 IN DEMAND


    The land-acquisition issue last year brought back customer interest in Indirapuram,Vaishali,Vaishali Extension,among others. reports


    The National Highway 24 is having a renewed demand from end users in the past couple of months.The land-acquisition issue last year brought back the customer interest to this part of the NCR.The localities benefiting through this development include Indirapuram,Vaishali,Vaishali Extension,among others.


    The consumer sentiment was dampened after the farmer's litigation in Noida Extension.Properties in


    localities at NH-24 are in


    advanced stages of construction.


    Proximity to areas like Noida,Indirapuram,Vaishali and Kaushambi,facilities like malls,shopping centres,retail outlets,commercial complexes,hospitals,banks and schools are some of the positive factors.


    This region is popular for middle-income housing projects offering 2- and 3BHK flats,with areas ranging from 900-1600 sq ft,going for Rs 20-35 lakh.Developers having a presence here include Assotech Ltd,Ashiana Housing,Gaursons India Ltd,Mahagun Developers Ltd,Ansal Housing & Construction,SVP Group,Jaipuria Buildcon,Landcraft Developers Pvt Ltd,Panchsheel Promoters Ltd,Paramount Residency (P) Ltd and Supertech Ltd,among others.


    According to the data of ,the prevailing prices of multistorey apartments on NH-24 are in the range of Rs 2,000-2,200 per sq ft depending upon the area,builder,typology offered,amenities,specifications and other attributes of the project.


    The properties here are close to possession although there is availability of a large inventory coupled with a lack of secure living,leading to a fall in the lower values of this region.


    NH-24 will have a positive growth in housing demand in the near future,as the government takes on infrastructure projects like widening of the 20km stretch on NH-24,between Delhi border and Dasna,to ease traffic congestion,the speedy execution of Uppal Wave Hi-tech Township,approval of Metro connectivity,among others.


    A sixteen-lane NH-24,opposite Dundahera village near the ABES Engineering College is also under construction.Other benefits of investing here include the proximity of Noida and Indirapuram,which are 10km from this area,round-the-clock security with intercommunication facility at projects,academic institutions in close proximity,convenient shopping and grocery stores within the complex.


    QUICK BITES


    PROPERTIES IN LOCALITIES AT NH-24 ARE IN ADVANCED STAGES OF CONSTRUCTION.PROXIMITY TO AREAS LIKE NOIDA,INDIRAPURAM,VAISHALI AND KAUSHAMBI,FACILITIES LIKE MALLS,SHOPPING CENTRES,RETAIL OUTLETS,COMMERCIAL COMPLEXES,HOSPITALS,BANKS AND SCHOOLS ARE SOME OF THE POSITIVE FACTORS


    THIS REGION IS POPULAR FOR MIDDLE-INCOME HOUSING PROJECTS OFFERING 2- AND 3BHK FLATS,WITH AREAS RANGING FROM 900-1600 SQ FT,GOING FOR RS 20-35 LAKH.

    -TOI

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