Affordable Real Estate by Delhi Builders in Ghaziabad

By: George Gonigal

Situated on Delhi's eastern periphery, Ghaziabad is rapidly emerging as the residential nucleus for IT professionals working in NOIDA and Delhi. Ghaziabad is also gaining popularity owing to its proximity to the Commonwealth Games locations.Newsweek included Ghaziabad in its list of '10 Most Dynamic Cities' in the world and described it as ' India's hottest city' that "is emerging as the next popular address for Delhi-bound commuters". As affordable housing becomes the key to sales in a slowing market, key Delhi real estate developers have developed affordable residential property along the NH-24, leading to Hapur, and along NH-58, leading to Meerut in Uttar Pradesh.

Ghaziabad's proximity to key business districts in Delhi makes it a good option for Delhi's residential real estate buyers. Large commercial developments in Noida and Greater Noida in the vicinity also adds to Ghaziabad's attraction to Delhi Property buyers. Also on the cards is a 1500-acre township, a hi-tech city in Ghaziabad. The city has emerged as one of the best investment destinations for Delhi property buyers.Ghaziabad will also be connected by the proposed Metro line in Delhi Metro Rail Corporation's Phase II link from Anand Vihar to Vaishali at Kaushambi. The project is scheduled to be completed by September 2010. There is also a proposal to develop 14 flyovers which will help in reducing the traffic congestion, leading to an increase in real estate value in Delhi's suburb - Ghaziabad .

The capital values in Indirapuram in Ghaziabad in October were between Rs. 3,000-3,500/sq ft (builder flats) and Rs 2800-3000/sq ft (Cooperative housing societies) for the month of October. (Source: MagicBricks.com). In spite of a slowdown in the Delhi NCR residential real estate market, Ghaziabad's property values have held or have risen marginally between August and October. Anil Kumar Singh, a broker operating in Ghaziabad says attributes the escalation in values to the increase in demand, good location and the fact that since almost everything is sold out so its re-sale transactions. Proximity to Delhi along with good connectivity and transport links is also considered a big advantage.

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