UP Real Estate Growing Up

Meerut Real Estate

As an integral part of the National Capital Region, Meerut is the gateway for traffic to Mussoorie, Dehradun and Haridwar. Its strategic location has resulted in brisk real estate activity over the last 2 years.

Commercial Property: Majestic Properties’ Melange mall on NH 58 on 2.5 acres of land, 6 kms away from Begumpul targets the resident population of Meerut and the traffic towards Dehradun. The MSX Group is set to launch the MSX Mall, while AnsaL API is also targeting the highway traffic on the Delhi-Dehradun road with the Ansal Plaza project.

Residential Property: Group housing schemes by private property developers are taking shape in Meerut. Ansal Housing and Infrastructure has completed the Suryodaya Vihar and Panchvati Enclave housing projects. Township projects by NJS Builders, Taneja Developers and Infrastructure and Ansal API are in progress. Sushant City is a futuristic self-contained township on 300 acres at Ved Vyas Puri. Meerut’s first high-rise residential tower, Supertech Palm Greens on the Delhi-Hapur bypass is likely to be completed by December 2007, with a choice of 2 to 4 BHK apartments. Meerut- Roorkee Bypass is opening up to real estate activity, with property developers like ADY Infrastructure Developers set to launch a luxury apartment project. The Chadha Group has also announced its intention to build a residential township in Meerut soon.

Meerut has 40% of its population in the upper middle income group. The city attracts residents from Bulandshahr, Muzzafarnagar and Hapur for their educational and business requirements. Sports, leather and automobile components sustain the bustling economy of this commercial hub, and the growing real estate market has found support from this segment.

Moradabad Real Estate

Uttar Pradesh’s traditional handicrafts industry will usher in economic prosperity for artisans once the Moradabad SEZ takes shape. The ministry of commerce approved a handicraft SEZ in Moradabad, a city identified by its brassware. The Moradabad SEZ will enable better infrastructural facilities for the art metal craft industry and improve the productivity of the export-oriented units. Under Phase 1 of the SEZ, 469 plots of different sizes, on 421.56 acres of land, have been allotted to entrepreneurs. A helipad in the vicinity has also been proposed

Residential Property: The real estate boom is visible in Moradabad – Parsvnath has two residential projects under construction – modern apartments on offer are Parsvnath Pratibha and Parsvnath Residency. Supertech Constructions has a luxury apartment, the Supertech Palm Greens project on the Delhi Road in progress, while Taneja Developers and Infrastructure Ltd. have made inroads into the Moradabad property market with the TDI City project. These projects compete at par with premium projects in Tier I cities in terms of fittings and amenities.

Commercial Property: Moradabad’s brass industry is concentrated in 3 industrial areas – Harthal, Lakri Fazalpur, and Peetal Nagri. As in the residential sector, Parsvnath and TDI have taken the lead in commercial projects in Moradabad. Under construction are 3 major projects – the Parsvnath Mall is a retail mall, while the Parsvnath Plaza is a shopping-cum-office complex. TDI Mall is again, a shopping mall project set to introduce a comfortable shopping experience for the local population.