When the real estate market of a city is brimming with properties of all sorts, it is very likely to slip away from the hands of middle class buyers. The realty market of Delhi/NCR is the perfect example. Gurgaon started out as the hub of commercial and residential real estate in the National Capital Region (NCR) and now it is way beyond the reach of a mid-segment buyer. However, real estate is a very dynamic market and new and affordable properties keep coming up around the central locations. The micro-markets along the suburbs become the next affordable destinations.
So, if you are looking for budget-friendly house in NCR, here are the three localities you must check out:
Sometimes referred to as the ‘Gateway of UP’, Ghaziabad has developed into a popular residential destination in the NCR. It enjoys good connectivity with Delhi and Noida through highways and expressways and also via the Delhi Metro. It was initially an industrial town having a number of industries but with infrastructure development and the improvement in connectivity options, it caught the eye of some renowned real estate developers. Aditya Group has launched a number of projects in the locality. Wave Infratech, Gaursons, Parsvnath, Amrapali and Ansal Group have also launched their projects in Ghaziabad. Plots, apartments and townships all are available in an affordable price range. The property prices in the city range between Rs 1,500 per sq ft and Rs 5,000 per sq ft depending on the location and amenities.
Situated beyond the posh areas of South Delhi, Faridabad can be easily reached from Greater Noida, Gurgaon and Delhi. The main factor that boosted real estate development in Faridabad was the extended metro connectivity to Badarpur via Violet Line. The shortage of developable land in Delhi gave way to property development in Gurgaon’s cousin city Faridabad. Being closer to NCR’s commercial centers, the city also witnesses excellent infrastructure growth. All important facilities like hospital, educational institutions and banks are also in abundance. Omaxe Group, Ansal Group, BPTP and SRS Group are a few developers venturing in the market. Prices in Faridabad range from Rs 1,800 per sq ft to Rs 6,500 per sq ft.
Bhiwadi is a part of Delhi-Mumbai Industrial Corridor (DMIC) and enjoys close proximity to the Central Business District of Gurgaon. The city boasts of its growth in small and medium industries including steel, pharma, furnace, printing and many more. Reputed developers like Ashiana Housing and Omaxe Builders have launched their projects in Bhiwadi. These projects focus upon the mid-segment buyers and range between Rs 1,700- Rs 4,000 per sq ft.
Hence, whether you are looking forward to an investment in real estate or a house to live in, these three cities will offer you the most budget-friendly options.
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