Ghaziabad, a part of the NCR of Delhi is a well-planned city with sound road and railway connectivity. The state has a population of over 20 lacs and has a good number of social, commercial and industrial establishments.
Growing steadily in development, the city has witnessed the growth of the realty market. Though there has been some sluggishness in the realty market recently, the improved legal landscape with the introduction of RERA and GST has made the market more consumer friendly and hence have stirred up the market again. In addition, the festive season also added to the revival of the sector. The market witnessed a growth of approximately 20% during the Navratri season this year. Of all the enquiries on housing specifications, 1 and 2 bhk apartments in Ghaziabad have been the most popular ones enquired by prospective buyers.
Ghaziabad is well-connected to greater Noida, and what’s interesting is that the growth of residential projects in greater Noida has been somewhat fueled by residents of Ghaziabad who find relocating to greater Noida to be more beneficial for personal and professional reasons, but at the same time availing the feasibility of travelling to Ghaziabad every now and then.
On the other hand the implementation of RERA and GST has also been major contributors for the growth of the market. The city has witnessed high sales volumes on projects that are nearing completion and those that have been delivered. The market attracts more number of end users than investors.
The resale segment has also witnessed an overall growth of over 15% especially in localities like Indirapuram and Vasundhara. Places like Raj Nagar extension and Siddharth Vihar have witnessed a robust growth in housing projects. Areas near the NH-24 have also witnessed a growth of more than 10% since the previous year. To top it off, with RERA, the market seems to be heading towards a positive phase. With the market being stirred up, Ghaziabad still remains one of the prominent real estate destinations in NCR.
Growing steadily in development, the city has witnessed the growth of the realty market. Though there has been some sluggishness in the realty market recently, the improved legal landscape with the introduction of RERA and GST has made the market more consumer friendly and hence have stirred up the market again. In addition, the festive season also added to the revival of the sector. The market witnessed a growth of approximately 20% during the Navratri season this year. Of all the enquiries on housing specifications, 1 and 2 bhk apartments in Ghaziabad have been the most popular ones enquired by prospective buyers.
Ghaziabad is well-connected to greater Noida, and what’s interesting is that the growth of residential projects in greater Noida has been somewhat fueled by residents of Ghaziabad who find relocating to greater Noida to be more beneficial for personal and professional reasons, but at the same time availing the feasibility of travelling to Ghaziabad every now and then.
On the other hand the implementation of RERA and GST has also been major contributors for the growth of the market. The city has witnessed high sales volumes on projects that are nearing completion and those that have been delivered. The market attracts more number of end users than investors.
The resale segment has also witnessed an overall growth of over 15% especially in localities like Indirapuram and Vasundhara. Places like Raj Nagar extension and Siddharth Vihar have witnessed a robust growth in housing projects. Areas near the NH-24 have also witnessed a growth of more than 10% since the previous year. To top it off, with RERA, the market seems to be heading towards a positive phase. With the market being stirred up, Ghaziabad still remains one of the prominent real estate destinations in NCR.