Ghaziabad Offers Affordable Housing In Delhi Ncr
Ghaziabad, a city in Uttar Pradesh, is around 15 kilometers from East Delhi. It is a large industrial city that is well-connected to Delhi by roads, flyovers and railways. Some of the industries in Ghaziabad are that that manufacture railway coaches, diesel engines, bicycles, paint and varnish, heavy chains, tapestries, glassware, pottery, etc.
Ghaziabad is a growing industrial city that has large number of small scale, medium scale and large scale industries. This means that it employs a huge count of workers in its industries and is credited to give highest revenue to Uttar Pradesh. It is quite a modernized area with a whopping 32 malls which is second highest in India after Bangalore. In the field of education, Ghaziabad houses numerous top institutes from engineering colleges to management schools to law schools to medical, pharmacy and dental colleges to various senior secondary schools.
These innumerable features of the city of Ghaziabad are enough to measure the potential it holds in real estate arena. Being an industrial town, it has plenty of commercial and industrial buildings though residential property in Ghaziabad still has a long way to go. In order to match its counterparts, it is yet to cover quite a long distance. The residential segment of Ghaziabad realty remains affordable as property in Ghaziabad costs in rest of the Delhi have grown sky high.
Ghaziabad needs to quickly come up with housing development across the city as there is a huge supply deficit widening every quarter. The demand for flats and apartments in Ghaziabad comes mainly from three kinds of people, they are:
Those employees who are associated with industries operating in Ghaziabad. The lack of time and growing commuting distance forces people to live in the nearest distance from their workplaces.
Those students who migrate to the city to pursue higher education in law, medicine, engineering or management fields. Since, it has some of the top B-schools and other colleges, students come here in large numbers while increasing the demand for housing.
Those who work in offices around the city like in East Delhi may also raise the demand for residential spaces in Ghaziabad. These people look for houses in Ghaziabad as it offers affordable living as compared to Delhi.
For the mere reason of low property prices, Ghaziabad has become a favorite with those looking for affordable housing. The saturation of residential property in Delhi has forced its burgeoning population to look for other housing options outside the city. This is why peripheral areas of Delhi i.e. NCR like Ghaziabad, Gurgaon, Faridabad and Noida are next most preferred residential destinations after the capital city. These areas are increasingly creating quality residential locations to help people find better housing in proximity to Delhi. The current buzzword for property developers and builders these days is ‘affordable housing’.
One of the rapidly emerging residential hotspots in Ghaziabad is Raj Nagar extension. It is gaining instant popularity as it is located at just about 12 kms distance from East Delhi’s metro station. Moreover, Raj Nagar area has been outlined as a residential zone in the New Master Plan of Ghaziabad. This means that well planned group housing complexes and townships can be raised here and so, it is bustling with big as well as small realty players. According to an estimate, at least 10,000 apartments would be ready for occupation in next 2 years. It is now gaining a position as the most sought after residential hub of NCR, Ghaziabad.
Ghaziabad real estate market will soon have a right mix of all types of properties-residential, commercial, retail and institutional.
Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At 99 acres, you can advertise a property, search for a property and browse through Ghaziabad property and other Properties.
Article from articlesbase.com
