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Ghaziabad: Get more for less

Ghaziabad is known for its swift connectivity to all NCR locations and is a preferred residential destination among IT professionals working in Greater Noida and Noida. Shivani Mehrotra, who working with an IT company in Sector 62, Noida, says, “I preferred to buy a 3BHK home in Raj Nagar Extension, Ghaziabad, due to ease of connectivity and for my growing family. Ghaziabad is an affordable option as compared to the neighbouring Noida.

Ghaziabad offers 3BHK units within a budget of Rs 20 lakh to Rs 2 crore. The sizes of such apartments vary from 1,200 to 3,000 square feet. Ghaziabad offers freehold properties with basic to luxury amenities.

The prices have not swung much in the last one year.

The average property price for Ghaziabad for July 2015 was Rs 3,370 per square feet. The two times prices shot up was in October 2014 and January 2015. After January, the real estate prices in Ghaziabad have seen a continuous drop.

Kaushambi, Vaishali, Indirapuram and Raj Nagar Extension are the four most flourishing property markets of this region. These localities also started as the affordable ones but as the demand increased, so did the prices. These are quite developed and the residential projects have already become active. This is why developers are also coming up with premium projects targeted at the HNI customers.

Localities where the prices have not undergone much change over the last one year are Vaishali, Vasundhara and Raj Nagar Extension. Prices in Indirapuram fell during the end of 2014 but picked up from May this year and have remained the same ever since. Like the average Property price in Ghaziabad, prices in Crossing Republic locality came down at the beginning of 2015.

The area along NH24 has been a popular locality. The coming of an elevated road and FNG Corridor has improved its connectivity with Noida and Greater Noida. Along with housing societies, several commercial projects are coming up in the area. Projects such as Aditya Urban Homes, Aditya City Residences and Aditya High Street offer affordable projects in varied sizes and specifications that suit the budget of middle income buyers.