July 13, 2024


Mad about real estate

Indirapuram – a Gem of Ghaziabad’s Property and Real Estate Market

A few years ago having a property in Ghaziabad had been looked down upon by many. Today, the same location is considered as a priced property. By way of entertainment, quality education or health cares the NCR region of Ghaziabad has grown multifold. And among all Indirapuram has emerged as the priciest location in Ghaziabad region.

Strategically located between three cities (Delhi, Ghaziabad and Noida), Indirapuram’s infrastructure is supposed to be its biggest strength. The entire skyline of Indirapuram has changed remarkably in the last two-three years. An increased growth of commercial and retail sector as well as the social and physical infrastructure has further resulted in a glut of residential projects including well-planned townships in Indirapuram.

The rates of residential properties in Indirapuram have skyrocketed in the last couple of years. According to research reports, property rates in Indirapuram alone have registered a 70 to 80 per cent appreciation in the last one and a half years.

Shipra Estate is one of the first private developers to have launched a property in Indirapuram around two years back Shipra’s prime residential property in Indirapuram was valued at Rs 1,200 per sq ft, but today its costs more than Rs 2,600 per sq ft, say Mohan Gupta, real estate agent operating in Indirapuram.

Since, good living is the catchphrase in Ghaziabad region private developers are coming up with hoards of lifestyle premium apartment projects in Indirapuram. Provision of high-class infrastructure is foremost for the residential property developers.

The introduction of the Metro Rail and the Commonwealth Games are two breaking points that have stimulated demand for property in the Ghaziabad region. Kaushambi, Vaishali, Vasundhra and Indirapuram have seen the maximum amount of real estate development. Of which Indirapuram has clearly emerged as the hot bed of real estate in Ghaziabad. Property builders and estate agents feels that in another two years’ time Indirapuram would be choc-a-block.

Future Outlook

The properties in Indirapuram are quite affordable. People from middle and upper middle classes are largely buying in these properties. The trend of villas, penthouses and independent floors is also catching up in Indirapuram. With superior standard of amenities being offered in almost all residential projects in Indirapuram, which includes, suitable parking, parks, power backup, 24-hour water supply, swimming pool, nursery, gym, among others the real estate value of the place is getting bigger.

Although hit by the current market slump the transactions have been low. Also, due to increase in cost of construction there have been delays in projects by many developers for which the bookings have already been done.

Besides, few other issues like number of factories on the main road leading to high level of pollution, crossing the border during rush hour, interstate bus, transit trucks and local auto-rickshaws parked at border often led to long traffic jams. According to Times Property these concerns have to be well thought-out for Indirapuram to become a real estate destination in true sense, feel the residents and developers alike.