In search of these diverse residential properties many are selling off their bungalows in congested areas of East Delhi, which sell for around 8-10 crore, which they use to buy spacious trans-Hindon apartments and plots i.e. Areas falling just after crossing the Hindon Bridge. The trans-Hindon colonies are believed to be of great value by many in terms of bulk-buying or corporate establishments.
Real Estate prices in these regions of Ghaziabad are varying from 3500-5000 per square feet. Although there are some problems related to sewage in these areas but affordable prices of property keeps the buyers attracted, ensuring the continuing buying spree. The National Property Index (NPI) went up by over 2% in the Jan-March 2012 quarter, compared to Oct-Dec 2011 quarter. The Ghaziabad index rose up by 5%.
The rates in different prime localities hover around:
- Indirapuram – 4200/sq.ft.
- Kaushambi – 4500-4700/sq.ft.
- Vaishali and Vasundhara – 4500-5000/sq.ft.
Areas like Indirapuram, Vasundhara, Vaishali etc. is seeing a steep increase in demand also because of close proximity from NCR, very good connectivity from Delhi through the Metro Railway system which decreased travel time reasonably. Evaluating all of these factors builders that are currently operating for ongoing projects in Ghaziabad are Gaur, Assotech, Ashiana, Supertech, Nirala, SVP Group, ATS, Mahagun, Gulshan Homz, Aditya, Jaipuria, HRC, Amrapali, Meriton, Krishna, Apra, Shipra, Exotica, Parsvnath, Nitishree, Himalaya, Balaji