News India Live, Digital Desk: Ghaziabad, adjacent to Delhi, remains hotspot in the property market nowadays. If you are planning to take home here, then know that the prices of land and flats are not taking the name of stopping here. The latest figures of CREDAI (CREDAI – which is the organization of real estate developers) show that since 2019, the prices of property in Ghaziabad have increased by 139 percent!
After all, why are the rates running in Ghaziabad?
The biggest hand behind this fast is the big infrastructure projects running in the city. Think, how easy the Delhi-Meerut Expressway has made Delhi to go to Delhi! The expansion of the rapid rail corridor and metro from above has made connectivity even more spectacular.
For these reasons, especially for employed people, they are becoming a favorite place to live in Ghaziabad. When people come more, then obviously the demand for property will increase and prices will also increase.
New areas and better facilities are also the reason
Not only connectivity, new areas like Crossing Republic, Siddharth Vihar and Raj Nagar Extension in Ghaziabad have also been inhabited. Here you get wide roads, green parks, shopping malls and all the modern facilities that are necessary for a good lifestyle. And the biggest thing, all this is still available at a slightly cheaper rate compared to Noida or Gurgaon. This is the reason why the sales of houses have increased here.
Who is ahead in NCR, who is behind?
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Noida is at the forefront: By the way, if we talk about the percentage increase, then between 2019 and September 2024, Noida has won. The property rates here have increased by 152% (increased from about ₹ 5,910 to ₹ 14,946 per sq ft).
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Ghaziabad at number two: Prices rose 139% in Ghaziabad (about ₹ 3,691 to ₹ 8,823 per sq ft).
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Gurgaon on third: Gurgaon also rose 135% (about ₹ 8,299 to ₹ 19,535 per sq ft).
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Greater Noida: Here too, an increase of 121% was observed (about ₹ 3,900 to ₹ 8,601 per sq ft).
Booking of houses also increased
According to CREDAI, the number of houses booked in NCR between 2019 and 2024 has increased by 14%. Ghaziabad’s share in the houses sold in the entire NCR was also about 13%. Recently (in the third quarter of 2024) a total of 15,600 houses were sold in NCR, of which about 2028 were in Ghaziabad.
Where is the most project?
The interesting thing is that if we talk about the new real estate project register in the whole of Uttar Pradesh, then in 2023, the most (61) projects were registered in Lucknow. After that 51 projects were registered in Gautam Buddha Nagar (Noida/Greater Noida) and then 39 projects in Ghaziabad.
A challenge: delay in passing the map
Gaurav Gupta, secretary of CREDAI-NCR, also explained a problem. He says that it takes too much time to pass the building map in Ghaziabad Development Authority (GDA), sometimes for 3 years. This delay finally affects the home buyers.
The Post NCR: Thinking of buying property in Ghaziabad? Prices became rockets, a rise of 139% in 5 years! First appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
