Space crunch and high prices in Delhi is pushing end users to Ghaziabad’s Vaishali, Indirapuram, and Vasundhara, which are delivering quality residential properties with social and physical infrastructure.
Ghaziabad’s Vaishali, Indirapuram, and Vasundhara have come a long way in terms of real estate development. Proximity to Delhi, vast areas with cheap land, and strong infrastructure have made Ghaziabad a sought-after destination. Ghaziabad Development Authority (GDA) has laid special emphasis on strengthening the base and developing social and physical infrastructure here.
As dearth of space led to a spiralling of realty prices that shot beyond the reach of common man in Delhi, many buyers have started moving towards these localities in Ghaziabad. And people buying property here have a valid reason as these are currently the hot destinations for investment in real estate in Ghaziabad. Vaishali, Indirapuram, and Vasundhara, in particular, stand out for their fast-track development in Ghaziabad. These places have managed to respond well to the influx of people. They are witnessing tremendous growth in the residential property market with innumerable townships and housing complexes mushrooming all over — in fact, the end users are spoilt for choice.
The 2010 Commonwealth Games has triggered a lot of action in infrastructure development, retail, and hospitality sectors in and around these three areas. What sets Vaishali, Indirapuram, and Vasundhara apart from other places is the availability of basic infrastructure in their locality. Though people go to great lengths in selecting a suitable house customized to their individual tastes, they nevertheless, lay great store in the basic facilities provided in the neighbourhood — and in this, they make no compromises. The most important facilities such as hospitals, schools, and malls comprise the necessities that every end user seeks. The demand for these facilities in the neighbourhood has gained importance as lifestyle of urban people has changed and the rat race on professional front leaves them very little time to commute over long distances for these basic things.
Rakesh Yadav, MD Antriksh Groups, says the best thing about this trinity of Ghaziabad is that all facilities, be they malls, hospitals, or good schools are located within an easy distance. Currently, the projects of various builders like Gaursons, Mahagun, Amrapali, Ashiana, Parsvnath, Express Builders, Krishna Apra, Jaipurias, Assotech, Agarwal Associates and SVP Group are in various stages of completion or already completed in Indirapuram.
In Vaishali, developers like Antriksh, Amrapali, Ashiana, Mahagun, Designarch, Supertech, etc, are active. Here the rates vary from Rs 2,800 per sq ft to Rs 3,500 per sq ft. In Vasundhara, SG Estates, Ajnara, Gardenia, etc, are present and the rates of their projects are around Rs 2,500-3200 per sq ft.
In the last few years, prices in this trinity have more than doubled, but still, they are lower than the prices of apartments available in Noida and Gurgaon. At the same time, the specifications and amenities are on par. However, residents here complain about the haphazard way in which the areas are shaping up and things may slide over the next 4-5 years unless builders also take a more proactive interest in simultaneously laying down basic infrastructure and other amenities, along with raising vertical structures.
Indirapuram
As far as proximity to social infrastructure is concerned, Indirapuram has good road connectivity to access them. The Central Business District of Delhi, Connaught Place, is about 30 minutes away. Noida’s Electronic City, home to a number of software majors and educational institutions, is right across the highway, while Kaushambi and Ghaziabad are at a 10-minute’s drive. Delhi Public School and Cambridge School have set up their local units here. However, the nearest hospital is Fortis, in Sector 62, Noida, while there are many smaller clinics here. A few projects that will add a feather to Indirapuram’s cap are: a project to widen NH-24; GDA plan to develop a Habitat Centre on the lines of India Habitat Centre in Delhi; and GDA Swarn Jayanti Park project. It has been found that the first question an end user poses before finalizing a deal is whether there is a school in the vicinity? What about a hospital or mall? Indirapuram has all these amenities.
Vaishali
In Vaishali, which is also close to Delhi, developers like Gaursons, JM Group, Oasis Group and Ramprastha Builders are implementing their projects. Amrapali, Ashiana, Mahagun, Designarch and Supertech among others have already completed a number of projects in Vaishali. At present Gaursaon and Ramprastha are very active in the area. While Gaursons is constructing 620 apartments in four projects, Ramprastha Builders are developing 570 apartments in two projects.
Rates in the area varies from Rs 2,800 per sq ft to Rs 4,000 per sq ft. A number of developers are implementing independent floors also in Vaishali. In this, developers buy large area of plot and construct a number of apartments and sell them to the end users. The price of independent floor apartment is lower than that in a condominium. This is mainly because the independent floor apartment have less facilities in term of swimming pool, common play area for children and 24-hour security system as available in condominiums.
Vasundhara
Vasundhara, another upcoming township in the area, is full of construction activities. Players like SG Estates, Ajnara and Gardenia are constructing a number of projects here. Rates in Vasundhara varies in the region of Rs 2,600 per sq ft to Rs 3,000 per sq ft. A number of independent floors are also coming up here.
Small time developers buy a plot of 300 sq meters and construct 4 to 6 apartments, depending on the size and sell them to individual buyers.
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