Once considered as only an underdeveloped suburb of the National Capital Region (NCR), Ghaziabad is now counted among the most dynamically advancing cities. As the real estate development companies started realizing the dearth of space in Delhi, they started moving towards the suburbs of Delhi. That is when this city started transforming into a hub of residential and commercial real estate.
Like any other city in its initial stages of development, Ghaziabad Property Price also witnessed several ups and downs. Since the infrastructure around the area is continuously developing, the real estate sector also experiences a better situation. Ghaziabad, on a major level, caters to the mid-segment buyers and offers comparatively affordable homes.
Here is how the property price trends in Ghaziabad performed over the last one year:
The prices have not seen much peaks and troughs over the last one year. The average price for Ghaziabad for July ‘15 is recorded as Rs 3,370 per sq ft. The two time periods when prices shot up was in October ‘14 and January ‘15. After Jan, 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 demands increase, so do the prices. These are quite developed and residential projects have already become active. This is why developers are also coming up with premium projects targeted at the HNI customers.
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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 have recently picked up pace from May this year; it has remained stagnant ever since. Like the average price in Ghaziabad, prices in Crossing Republic locality came down with the beginning of this year.
NH24 is one important locality that has received much popularity for quite some time. The coming of an elevated road and FNG Corridor has improved its connectivity with Noida and Greater Noida. Along with housing societies, several commercial developments are gradually coming up in the area. Projects like 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. Experts suggest that these properties are going to experience tremendous value appreciation over the next 5-10 years. Now is the perfect time to make an investment in Ghaziabad as the city is growing into the new residential and commercial hub of NCR.
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