Ghaziabad Real Estate – Once Deserted, Now Blossoming

Ghaziabad – From Ghaziuddinnagar to Ghaziabad, this town has seen many ups and downs, recently only ups though. It is a district of Uttar Pradesh where three never-drying rivers flow: The Ganges, Yamuna and the Hindon. This town has grown in quantum leaps after its status was upgraded from that of tehsil (county) to a separate district. In its journey of success, it has witnessed a radical change in population, trade, face lifting and much more. It was once ranked 6th in Newsweek’s list of 10 most dynamic cities in the world.It is well connected to the rest of the country by rail and road. It is an important railway point of the Northern Railways. Infrastructure in Ghaziabad is very strong owing its proximity to the national capital. Its proximity to Delhi, vast areas of cheap land and strong infrastructure have made Ghaziabad an industrial town. The development authorities have laid special emphasis on strengthening the base and developing the social and physical infrastructure of Ghaziabad. Due to which many companies like Coca-Cola and ITC have set up their manufacturing units in Ghaziabad. This has boosted the retail sector in Ghaziabad.

There is a dearth of space in Delhi for commercial as well as residential purposes, so many buyers have directed their gaze towards Ghaziabad. People interested in buying Ghaziabad properties have a valid reason of doing so as in the current times, it is one of the hot destinations for investments in real estate. Ghaziabad property market is witnessing trends that suggest that employers, residents, traders and foreign investors, off late, are calling the shots. People are willing to buy property in Ghaziabad mainly to avoid paying much higher rates in Delhi and to enjoy living away from the hustle bustle of a metropolitan; yet be in touch for functional purposes. So people work in Delhi and stay in Ghaziabad. This has given rise to spiraling townships in Ghaziabad.

Easy finance options and increasing demand of residential property in Ghaziabad has attracted buyers from nearby Noida as well.

Ghaziabad has managed to respond well to the sudden influx of people and capital into the realty sector. Foreign direct investments in Ghaziabad has been received with open arms in the Sugar and Power generation projects, to name a few. Going by what trade pundits predict, much more foreign exchange is coming in other sectors as well.

Adjoining areas of Ghaziabad like Kaushambi, Vaishali, Indirapuram and others are also witnessing tremendous growth in the residential property market. Kaushambi is rife with many townships, offering luxury condominiums and multiplexes. The upcoming Commonwealth Games 2010 has triggered a lot of action in infrastructure development, retail and hospitality sectors in and around Kaushambi.

After Delhi, it is Ghaziabad that offers excellent breeding ground for real estate trade in all three segments- commercial, residential and retail. It shall be apt if one says –Sky is the limit-literally, for Ghaziabad.

Upcoming Real Estate Projects

ADAE’s Reliance Energy is all set to start a multi-product SEZ (Special Economic Zone) very soon, spread over an area of 1,000 hectares in Ghaziabad. With the setting up of SEZs, traders shall get relief from paying tax, excise and customs duty. Hence, buying commercial property in Ghaziabad is a definite winner.

Prominent builders like DLF, Suncity Pvt. Ltd., Nitishree Builders, Parsvnath Developers have invested in ambitious township projects with all the modern recreational facilities to attract socialites and NRIs, who come back to India as an after retirement option.

The Jaipuria Group of real estate developers has undertaken another prestigious NRI township project in Kaushambi.