SquareYards.com, one of India’s biggest integrated real estate brands, has highlighted how Ghaziabad, one of Delhi-NCR’s biggest property markets, has benefited from infrastructure development. With more affordable real estate properties than Noida and Gurgaon, Ghaziabad has witnessed a major pick-up in its residential real estate market.
SquareYards.com states how there were close to 11,000 real estate transactions witnessed in Q1 2024. Most of these deals took place in the sub-Rs. 50 lakh price category, comprising more than three-quarters of the overall tally. Major localities like Indirapuram, Pratap Vihar, Raj Nagar Extension, Vaishali, and Shahpur Bamheta witnessed the majority of these property transactions. Indirapuram was the frontrunner based on gross transaction values, with sales amounting to Rs. 701 crore. It was followed by Raj Nagar Extension and Shahpur Bamheta with sales figures of Rs. 255 crore and 164 crore respectively. Indirapuram also had 1,150 transactions, while Raj Nagar Extension and Shahpur Bamheta saw 601 and 537 transactions respectively. Pratap Vihar and Vaishali also had sales figures of Rs. 175 crore and Rs. 212 crore, with 475 and 410 units sold respectively. Some other prominent locations for property sales included Pandav Nagar, Vasundhara, Nai Basti Dundahera, Wave City, and Rajendra Nagar.
According to the Executive President, Square Yards, Vikas Tomar, Ghaziabad is a vital part of the Delhi-NCR stretch and benefits from its easy access and connectivity to major commercial hubs in Noida and Delhi. He also feels that Ghaziabad is already equipped with top-notch social and physical infrastructure, including educational and healthcare institutions, thereby adding to its overall livability quotient. Tomar also states that these factors in combination with relatively affordable property choices makes it a hot residential market in the country, while adding that the ongoing Delhi-Meerut-Ghaziabad RRTS corridor and RRTS-cum-metro corridor extension to Jewar Airport could be future game-changers as well.
Tomar also adds that homebuyers who are looking for affordable properties are considering Ghaziabad, particularly in the mid-range segment. With skyrocketing infrastructural growth and development, the city is anticipated to become one of the biggest markets in the Delhi-NCR belt for residential real estate.
For a detailed report on this read the articles we were featured in:
The Financial Express – https://bit.ly/3xSso0S
Business News This Week – https://bit.ly/3VMkuOz
National Biz News – https://bit.ly/3xRIurD
Published Date: 1 July, 2024
