Ghaziabad Gets Infrastructural Boost, Soon To Become A Smart City
March 10, 2019
Today, Delhi NCR has stupendously emerged as a land of opportunities for both commercials as well as real estate investment. Current government’s incessant efforts to improve trade relations has genteel India’s position globally and has attracted more domestic as well as foreign investments in the recent past. Thus, making the city a perfect investment destination.
Over the last few years, Noida and nearby areas like Ghaziabad have soared as the commercial hub for people and investors who are looking to make fast bucks. The number of people looking to invest in the National Capital Region, especially Ghaziabad is increasing by the day, city’s commercial real estate sector has witnessed incredible growth in the past few years. Thanks to the infrastructural expansions. These advancements will surely boost the housing sector in the city, people looking out to buy affordable houses will have more opportunities. Here developers are bringing multiple affordable projects in areas like Modi Nagar, Indirapuram, Kaushambi, Vaishali and so on. Potential home-buyers, who are looking for 2, 3, and 4BHK flats have plenty of choices depending on the location.
To further fillip the ongoing development drive, Prime Minister Narendra Modi inaugurated Rs. 32,513 crore development projects in Ghaziabad on Friday 8th March 2019. These projects will heavily uplift the housing demand in the city and nearby areas. He also officially handed over some of the projects to the general public.
Let’s have a quick look at some of the developments and how they are going to impact the housing demand in the city.
Delhi Metro’s Red Line extension- Dilshad Garden to Shaheed Shtal New Bus Adda: The 9.63 km-long extension of Delhi Metro’s Red Line, will bring Ghaziabad closer to Delhi. Delhi Metro will be making its first advent into the interiors of Ghaziabad, touching the industrial areas of the city and Sahibabad.
With this extended section, the entire Red Line of Delhi Metro will become 34.40 km long. The elevated section comprises eight stations — Shahid Nagar, Raj Bagh, Rajendra Nagar, Shyam Park, Mohan Nagar, Arthala, Hindon River Station and New Bus Adda. This will simplify the lives of daily commuters who are travelling from Delhi to Ghaziabad for services.
The Metro and elevated road would not only augment the outlook of Ghaziabad on Delhi NCR but also on India’s map. The second-longest road in the country has reduced the journey time between UP Gate and Raj Nagar Extension to just 10 minutes from 45-60 minutes that it normally took in peak traffic before the road opened. While the metro has arrived as a blessing for daily commuters, it has incredibly reduced the travelling time eg. Now one can reach from Raj Nagar to Rohini in just 45-50 mins while from Raj Nagar to Gurgaon in only 120 mins and so on.
Delhi-Ghaziabad-Meerut Regional Rapid Rail Transit System: The Union Cabinet recently gave a green flag to India’s first Regional Rapid Rail Transit (RRTS) between Delhi-Ghaziabad-Meerut with Metro in Meerut. This 82 Km stretch will be covered in less than 60 minutes by high-speed and green public transit. The total cost of this project is pegged at Rs 30,274 crore. This will certainly reduce pollution and road congestion by taking over one lakh private vehicles off-road.
Providing regional connectivity, this transit system will also boost the housing demands in the nearby areas. Projects like Moti City which is in the close periphery (1-2 km) to Guldhar and Duhai stations will give homebuyers an added benefit by cutting down the overall travelling expense and also save their time.
Hindon Airport: The next big development in the city is the construction of Hindon Airport. To cut down the burden of the Indira Gandhi International Airport (IGIA), the Hindon Air Force Base in Ghaziabad was inaugurated to operate commercial regional flights. The airport is most likely to become operational from May 2019.
The 18-km long Hindon Elevated Road road is proposed to ensure seamless connectivity for the commuters arriving at the Hindon airport. This entire development will bring more commercialization into the city and hence, making it a hot cake for the investors. This will also boost the property prices and have a gigantic impact on Ghaziabad and nearby areas like Raj Nagar Extension’s real estate market. Ghaziabad is expected to witness a similar evolution like Gurgaon and is also en-route to be a Smart City soon.
The recent mounting developments has created a positive sentiment in the real estate market. Ghaziabad being accountable to increasingly well-informed consumers and investors, meeting their growing needs and professionally managing multiple projects, has shifted the commercial and real estate game in its favour. Good connectivity along with a plethora of other factors will definitely augment commercialisation in the city.