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A T i m e s o f I n d i a P r e s e n t a t i o n , D E L H I , A U G U S T 7, 2 0 1 0 T I M E S P R O P E R T Y
newdawn
[FAST FACT] Exorbitant property prices in Delhi and Noida have compelled buyers to look for other avenues like Ghaziabad

■ DUE TO THE 2010 GAMES,

A LOT OF INFRASTRUCTURE
DEVELOPMENT HAS BEEN
TRIGGERED IN AND
AROUND GHAZIABAD LIKE
THE ENTRY OF METRO LINE
GHAZIABAD: Among the global Top Ten
& THE ANAND VIHAR RLY
Rate-card of residential units in Ghaziabad
G
haziabad, an in-
AND BUS TERMINALS dustrial city close
to East Delhi, is Builder Name Project Name Location Launched Bedroom Unit Size Price range Sale price Completion
emerging as one of
the most preferred realty destinations around Units (Sq ft) (Rs/Sq ft) (Rs Lakh) Date
Delhi. Like Noida and Greater Noida, it is one of Crossings Infrastrusture Crossings Republik Crossings NH-24 2000 2-3 1270-1725 2415 31-42 Jul-11
the highest revenue generating cities in Uttar
Supertech Limited Living Stone Crossings NH-24 1550 2-3 850-2075 2300 20-48 Dec-12
Pradesh, with several kinds of industries in op-
eration here like small, medium and large scale. Panchshel Builtech Wellington Crossings NH-24 1500 2-3 1050-1700 2300 24-39 Jun-12
Once considered a backward city, today it ranks Panchshel Builtech Primrose Gouvindapuram 1400 1-3 645-1562 1900 12-30 Dec-11
among the Top Ten dynamic cities of the world,
Mahagun Mascot Crossings NH-24 1350 2-4 1050-2900 2139-2600 22-75 Sep-12
according to a report published in the Newsweek
magazine. Real estate in Ghaziabad is scoring Sawhney Builders Amara Towne Apts NH-58 1296 2-4 1230-2023 1750 22-35 Jan-11
high with the launch of various property projects Samiah International Garden City NH-24 1200 2-3 910-1795 1535 14-28 Mar-12
by leading realty developers. Now, after the entry
Mahagun Mahagunpuram NH-24 Bypass 1200 2-3 900-1300 1850 17-24 Jun-12
of Metro line and with other connectivity modes
having improved, house hunters are increasingly Saviour Builders Green Isle Crossings NH-24 1000 2-3 1100-1800 2400 26-43 Dec-12

‘
looking towards Ghaziabad markets when it Agarwal Associates Mega City Indirapuram 1000 2-4 1370-2380 3200 44-76 May-10
comes to buying their dream home. The areas
KDP Infrastructure Grand Savana Raj Nagar Extension 1000 2-3 825-1550 1950 16-30 Dec-10
here which have benefited from good connectivi-
ty are Indirapuram, Kaushambi, Vasundhra. SVP Group Gulmohur Garden Raj Nagar Extension 950 2-3 950-1590 1822-1892 17-30 Nov-11
N K Chaudhary, vice-chairman of Ghaziabad Ansal API Aquapolis NH-24 Bypass 940 2-4 1355-2646 2210-2950 30-78 Jul-12
Development Authority (GDA), says: "Being the
Shree Energy Developers Classic Residency Raj Nagar Extension 920 2-3 920-1580 1900 17-30 Dec-12
House most profitable fixed asset, investment in proper-
hunters ty is likely to yield good returns in future. The au- SVP Group Gulmohor Greens Mohan Nagar 901 2-4 1190-2265 2720 32-62 Jun-11
are increasingly thority is doing a lot to improve the basic infra- Ajnara Farms Gen-X Crossings NH-24 900 2-3 1050-2070 2300 24-48 Dec-12
looking structure. To free the increasing traffic, a num-
Meriton Group Orange County Indirapuram 900 2-4 1197-2772 3900-4450 47-123 Dec-11
towards ber of flyovers, rail over bridges (ROBs) and un-
Ghaziabad derpass have been planned. And some are being Ajnara Farms Integrity Raj Nagar Extension 900 2-4 815-1940 2024 16-39 Mar-12
markets when it constructed. Indian real estate is a huge hit with Triveni Infrastructure Heights NH-24 850 2-3 1100-1550 2200 24-34 Dec-10
comes to buying property investors not only from within the coun-
Parsvnath Developers Exotica Mohan Nagar 844 3-5 1920-3650 3000 58-110 Nov-12
their dream try but even with NRIs and foreign investors.
home. The areas Government support has also played an impor- Niho Construction Scottish Gardens Indirapuram 800 2-4 1075-1770 3000 32-53 Jun-12
which have ben- tant role in expansion of realty sector across Tier Value Infracon Meadows Vista Raj Nagar 792 2-3 890-1650 1600-1800 14-30 Dec-12
efited from good II, III and IV cities as well as towns and suburbs.
Mapsko Builder Krishna Apra Garden Indirapuram 728 2-3 1165-1698 3200 37-54 Dec-07
connectivity are The skyline of the country is changing with gar-
Indirapuram, gantuan developments in residential, commer- Amrapali Group Amrapali Village Indirapuram 675 2-3 1300-1850 2850 37-53 Dec-11
Kaushambi & cial and retail property sectors. The development Shipra Srishti Indirapuram 650 3-4 1700-3000 3300 56-99 Apr-11
Vasundhra in Ghaziabad real estate is also in line with prop-
LandCraft Developers River Heights Phase-I NH-58 650 1-3 680-1750 2094 14-37 Mar-09
erty growth witnessed by the entire nation across
the entire spectrum." LandCraft Developers Golf Links - Apartments NH-24 Bypass 640 2-4 1290-2370 1950-2700 25-64 Dec-11
Ghaziabad has always been an industrial cen- Shreya Developwell Hindon Heights NH-58 620 2-3 1050-1600 1850 19-30 Dec-12
tre which employed a large workforce at various
Techman Buildwell Moti Residency Raj Nagar Extension 620 2-3 815-1275 1775 14-23 Dec-11
levels. People migrate from nearby areas to find
work in the city that is on its way of becoming an Gaursons India Gaur Global Village Crossings NH-24 600 2-3 1050-1840 2050 22-38 Dec-11
IT and BPO destination. With the entry of MNCs Antriksh Engineers Antriksh Green Kaushambi 140 1-5 800-2282 3200 26-73 Aug-09
like ITC and Coca Cola, the value of Ghaziabad as
a commercial hub has increased manifold. Source: PropEquity Research
Along with this, professionals raise the de-
mand for housing facilities - both affordable and The evolution of Ghaziabad’s real estate is at a nascent stage and calls for more investments to
luxury - boosting the development of residential
realty. And then, as seen in the rest of the coun- accord the city a world-class status. A K Tiwary writes
try, the trend is for the retail sector to step in to
cater to the needs of the residents. Thereafter
comes the setting up of shopping malls, multiplex- the overall development of Ghaziabad real estate. Amarpali, Ajnara, among others, have a long list of real estate in Noida and Delhi.
es and other such sources of recreation propelling Developers like SVP, Gaursons, Antriksh, real estate projects in this area. The exorbitant property prices in Delhi and
Vijay Jindal, chairman of SVP Group, says that Noida have compelled buyers, especially mi-
the best thing about the city is that all the facilities, grants, to look for other avenues. It is here that
be they malls, hospitals or schools, are located in a Ghaziabad's realty scores, coming across as the
radius of a few kilometers. With several housing most favorable solution for both residential and
complexes, Ghaziabad has managed to respond commercial buyers.
well to the influx of people here. Also, in the run up The city is free of congestion and with congen-
to the October, 2010 Commonwealth Games, a lot of ial surroundings and business environment, it of-
action in infrastructure development in retail and fers great scope for commercial growth. Now, it
hospitality sectors has been triggered in and holds an important place in Delhi's NCR along
around Ghaziabad like the Metro line, the Anand with Gurgaon, Noida, Greater Noida and Farid-
Vihar railway and bus terminals, road-widening abad. However, the scenario is set to change with
on NH 24 and NH 58, among others. Real estate ex- large-scale construction activities taking place in
perts are now touting this place as one of the best the city. In the coming years, these high-class de-
locations for investment. velopments will surely raise the prices upwards.
Some of the chief reasons that fuelled real es- This rise is not limited to capital values only but
tate boom in Ghaziabad include its strategic lo- covers rental prices as well, which means both
cation on the Grand Truck (GT.) Road. Its easy buying and renting property is advantageous.
connectivity with Delhi makes it score higher in Ghaziabad property market offers great invest-
the preference list of business leaders. After rap- ment options to investors as it promises high re-
id commercialization of Gurgaon and Noida, it is turns in future.
the turn of Ghaziabad to be presented as the po- Ghaziabad real estate is yet to reach the satura-
tential business destination of India. The evolu- tion point and has a strong potential for new proj-
tion of Ghaziabad's real estate is at a nascent ects. Demand for residential apartments has been
stage and calls for more investments to accord the very high in the area and supply has been adequate
city a world-class status. thus far. As the demand in this area is growing,
Along with growth in commercial realty seg- Ghaziabad is the place to invest. Also, for end
ment, it is also seeing a lot of infrastructural im- users, the location is very good. Moreover, due to
provement making it one of the fastest growing its proximity to Noida (a major industrial hub), all
cities in India. Another reason for the upcoming the amenities and other commercial establish-
boom in property in Ghaziabad's realty is the ments are already there.
availability of cheaper options when compared to timespropertydelhi@indiatimes.com

Deepak Sharma
for the next two years the GDA will For middle class buyers one of the

GHAZIABAD:
maintain it. Later on, RWAs of each best choices that has come up is Ghazi-
tower will be handed over the mainte- abad where property prices are still
nance along with the corpus funded by within the reach. Here one can have
the GDA," he added. different choices, which includes buy-
A decade ago, to offload the popula- ing a house in Indirapuram, Kausham-
tion pressure in East Delhi, several bi, Vaishali, Vasundhara withing a

A new dawn
new colonies like Kaushambi, range of Rs. 20 lakh for a two/three
Vaishali, Vasundhara, Indirapuram, bedroom flat. Or else one can go for
Shalimar Garden were developed in choices on NH 58, which promises a lot
Ghaziabad. Private developers as well for the middle class looking for houses
as authorities are looking to develop within their budget, starting at even
new housing projects to cater to the lesser price range.
buyers here. Now, the thrust is on pro- "The overall development is pushing
viding affordable housing, and this prices at NH 58 too, but one can still
For people used to a certain lifestyle in Delhi, condition has been met to some extent get plenty of affordable real estate op-
as new townships come into existence. portunities," Jindal says. When com-
Ghaziabad, with a slew of affordable housing According to Ashok Gupta, director pared to places like Sonipat, Baghpat,
of Ajnara India Limited: "The Bhiwadi, Faridabad, New Gurgaon,
options and other metro-like amenities offers the prospects of all the newer areas that and Meerut, Ghaziabad scores the
best residential option, says Shri Ram Shaw are coming up in Ghaziabad are great.
The areas in Ghaziabad which are
best, for it is closer to Delhi and be-
cause of the development that will
promising bright prospects are Raj Na- take place in the area in near future,
gar Extension, NH 58, Crossings Re- though much progress has already

I
f you are looking for your dream
home, Ghaziabad will surely turn
out to be the best choice as there's
are slew of projects lined up to suit
every budget and need. The city is wit-
nessing hectic activity on the housing
front. Projects like those at Raj Nagar Ex-
tension and along NH 24 are currently the
major attraction for prospective buyers.
Areas like Raj Nagar Extension and
Meerut Road are examples of emerging
colonies, which are attracting a sizable
chunk of middle-class populace. Several
Ghaziabad Development Authority (GDA)
schemes are also coming up - the interest-
ing aspect of these schemes will be that
the flats will be ready-to-move flats. Be-
sides, the GDA is coming up with new
housing scheme at Madhuban Bapudham
too. The new flats will be 10-storey build-
ing comprising HIG and MIG flats, which
have been priced at Rs 40 lakh for the HIG
units and Rs 30 lakh for the MIG units.
"The new scheme was the outcome of a
property audit which was carried out at
various colonies after it was seen that sev-
eral flats and plots had been unsold. These
are the flats that will offer prospective flat
and plot seekers quick possession. Al-
ready, these areas have all the civic serv-
ices in place and the area has been well de-
veloped; we expect good response from the
people," Narendra Choudhary, GDA VC
said. The scheme will have 414 flats in var-
ious areas like Govindpuram where five
HIG (high income group), an MIG (middle
income group) and 68 LIG (low income
group) flats will be available; Karpoori
Puram will have eight HIG flats; Swarna
Jayanti Puram 12 plots and six EWS (eco-
nomically weaker section) flats; Sanjay
Nagar six HIG, 12 MIG and six LIG flats;
Pratap Vihar five HIG, four MIG, four LIG
and an EWS, besides three plots; Vaishali
four EWS; Indirapuram 48 EWS; Rajendra
Nagar 26 HIG, seven MIG and two EWS;
Vijay Nagar two EWS; Tulsi Niketan 27
EWS; Indira Kunj 54 EWS, and Nand
Gram 68 EWS.
These flats will be bigger in size than
private developer flats and there will be
no illusion of super area that the private
developers adopt to fool customers,
Choudhary claimed. "There will be provi-
sion for better upkeep; for the first year, it
will be maintained by our contractors and
publik and NH 24. All theses areas are
witnessing the development of afford-
able housing projects, which is the ac-
tual demand." He was of the view that
buyers would not shy away from in-
vesting in these areas as they would
see that in the long term, prices here
would appreciate more. He pointed
out, "These areas will become posh ar-
eas where people will love to live. Also,
the Metro connectivity has made these
places look even more lucrative."
Sunil Jindal, CEO of SVP Group is
all for Ghaziabad. "Among the newer
areas that are coming up in both
Ghaziabad and Noida, Ghaziabad
scores more. Areas like Indirapuram,
Vaishali, NH 24, Raj Nagar Extension
are some of the areas which have to
come on the buyers' radar,"
Jindal says.
He added, " Noida's sectors, where
projects have been announced, are too
far. Noida is a good option for long-
term investment, while Ghaziabad
scores even in short-term investment
and for immediate living. Apprecia-
tion in Ghaziabad is better than in the
Noida sectors like 62, 52 onwards, 60
onwards and 100 onwards. The reason
being that Ghaziabad is populated and
people are not afraid to live here."
Vijay Jindal, chairman and MD of
SVP Group, said he expects a revenue
of about Rs 160 crore from a luxury
housing project in Ghaziabad, which
is being developed in partnership with
Ashiana Homes. The company is de-
veloping 198 luxury villas and these
are being offered at a price starting
from Rs 80 lakh. "The project - Villa
Anandam - will be spread over an area
of 12.5 acres and is expected to be
ready for possession by 2012. It is like-
ly to fetch us a sales revenue of Rs 160
crore," Jindal said.
The project will be developed in
phases and in the first phase the com-
pany has offered 124 independent
units with a built-up area of 1,810
square feet per unit. The company has
already acquired land and the project
will be developed with an investment
of about Rs 55 crore.
The SVP Group is also investing Rs
140 crore to develop a group housing
project in Ghaziabad. The company
will construct 600 housing units under
the "Krishna Garden" project, spread
over six acres at Raj Nagar Extension.
been made.
Noida and Greater Noida have gone
out of reach in terms of prices. As
Delhiites are used to a certain kind of
lifestyle, Ghaziabad fits the bill as it is
going to have its own India Habitat
Centre and a Metro line too. The
process is on to connect the Metro line
from Dilshad Garden to New Bus Ter-
minus. In the 2nd phase, an elevated
Metro line will be laid between Dil-
shad Garden and the New Bus Termi-
nus, whereas in the 3rd phase, it will
be extended from Vaishali to Sector 62
of Noida via Mehrauli village.
The city already has several malls,
cinema halls and eat-out places, apart
from a 'Haat', similar to Dilli Haat, en-
compassed in the Swarna Jayanti Park,
in Indirapuram. "Purchasing a proper-
ty in Ghaziabad will not let a buyer lose
out on the lifestyle that he or she is used
to in Delhi given the developments that
the authorities have planned for the city
— smooth traffic, flyovers, Metro line,
parks, widening of roads," says Avnish
Agarwal, director of Meriton Group.
timespropertydelhi@indiatimes.com