Historically, Ghaziabad has never been the desired destination for residents of Delhi NCR. The stigma of it being a part of Uttar Pradesh with a high rate of criminal activities and the lack of basic amenities, decent road connectivity and classy people and to top these, polluted environment have always added Ghaziabad to the list of shunned areas.
However, with the recent inflation in property rates in Delhi, and the success of affordable townships in Noida and Gurgaon, builders took it upon them to alter face of Ghaziabad and its perspective amongst people. They acquired land and changed the city’s image by setting up commercial and residential complexes. This transformed the city from being an unwanted territory to people looking at investing in a residential property in Ghaziabad.
With prices soaring in other places of Delhi NCR, affordable property in Ghaziabad is on high demand and the region has become an interesting destination for construction of commercial complexes and housing societies. One key driver in this region is that land is sold on freehold instead of leasehold. Easy access to clean drinking water derived from the Ganges adds to the city’s advantage. Power supply has improved and the city has a stable economy. Today, Ghaziabad is the main contributor to the State government reserves.
Some of the preferred colonies in Ghaziabad are the Raj Nagar extension, Mohan Nagar and Govind Puram. Moreover, the residential property in Ghaziabad is one third the price of Noida and development of affordable property in Ghaziabad is in full swing. Colonies in this region have developed fast and the occupancy rate is increasing. A boost is further expected once the construction of the bridge over the River Hindon is complete. Installation of power substations and the benefit of purchasing land on freehold basis ensure that builders are able to complete their projects and hand over the possession to the buyers without much hassle.
However, with the recent inflation in property rates in Delhi, and the success of affordable townships in Noida and Gurgaon, builders took it upon them to alter face of Ghaziabad and its perspective amongst people. They acquired land and changed the city’s image by setting up commercial and residential complexes. This transformed the city from being an unwanted territory to people looking at investing in a residential property in Ghaziabad.
With prices soaring in other places of Delhi NCR, affordable property in Ghaziabad is on high demand and the region has become an interesting destination for construction of commercial complexes and housing societies. One key driver in this region is that land is sold on freehold instead of leasehold. Easy access to clean drinking water derived from the Ganges adds to the city’s advantage. Power supply has improved and the city has a stable economy. Today, Ghaziabad is the main contributor to the State government reserves.
Some of the preferred colonies in Ghaziabad are the Raj Nagar extension, Mohan Nagar and Govind Puram. Moreover, the residential property in Ghaziabad is one third the price of Noida and development of affordable property in Ghaziabad is in full swing. Colonies in this region have developed fast and the occupancy rate is increasing. A boost is further expected once the construction of the bridge over the River Hindon is complete. Installation of power substations and the benefit of purchasing land on freehold basis ensure that builders are able to complete their projects and hand over the possession to the buyers without much hassle.
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