Moradabad, Gaining Its Share of Popularity Among Builders

July 9, 2007	(Be the first to rate this story!)  Loading ...
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Moradabad is to zoom in with new developments in its real estate market. Property prices in the city have risen by 20-25% in the past two-three years and connoisseurs believe the industry to flourish further in near future.

Almost all prominent builders are being bullish on to take up different real estate projects in Moradabad. They are planning to come up with residential projects and shopping malls around the outskirts of the city. The list includes the names such as Ansal, Parsvnath, Taneja Developers and Infrastructures, Guarsons, and Supertech.

Considering increasing population of the city, Moradabad Development Authority (MDA) has recently created New Moradabad. 16 new sectors have been added on 900 acres of land. The new space is now leading to extension of commercial and residential area.

With such developments in the city’s pipeline, there are no doubts left for its growth prospects. It would not be a surprise if Moradabad makes headline regarding its being leading real estate in Tier-II and Tier-III cities.

Government has plans to develop Garhmukteshwar near Moradabad on the lines of Hardwar. The move has been decided to grab attention of tourists and investors, explains Ravinder Taneja, vice chairman, Taneja Developers & Infrastructure.

At present, the prices of plots in Moradabad hovers in between Rs 4,500-Rs 5,000 per sq meters (exclusive of stamp duty). However, the city still requires dealing with some infrastructure hitches on NH-24 which is the Delhi Road. But, this could not demoralize property developers who have full confidence in government’s directives.

The doubling of railway line from Delhi to Moradabad is in its final phase of development which is indicative of improvisation of infrastructure facilities.

News Published Under:   Real Estate India |

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