Rising Demand of Residential Projects on NH-24

Ghaziabad-real-estate-market-NH-24

The National Highway 24 is having a renewed demand from end users in the past couple of months. The land-acquisition issue last year brought back the customer interest to this part of the NCR. The localities benefiting through this development include Indirapuram, Vaishali, Vaishali Extension, among others.
The consumer sentiment was dampened after the farmer’s litigation in Noida Extension. Properties in localities at NH-24 are in advanced stages of construction.
Proximity to areas like Noida, Indirapuram, Vaishali and Kaushambi, facilities like malls, shopping centres, retail outlets, commercial complexes, hospitals, banks and schools are some of the positive factors.
This region is popular for middle-income housing projects offering 2- and 3BHK flats, with areas ranging from 900-1600 sq ft, going for Rs 20-35 lakh. Developers having a presence here include Assotech Ltd, Ashiana Housing, Gaursons India Ltd, Mahagun Developers Ltd, Ansal Housing & Construction, SVP Group, Jaipuria Buildcon, Landcraft Developers Pvt Ltd, Panchsheel Promoters Ltd, Paramount Residency (P) Ltd and Supertech Ltd, among others.
According to the data of MagicBricks, the prevailing prices of multistorey apartments on NH-24 are in the range of Rs 2,000-2,200 per sq ft depending upon the area, builder, typology offered, amenities, specifications and other attributes of the project.
The properties here are close to possession although there is availability of a large inventory coupled with a lack of secure living, leading to a fall in the lower values of this region.
NH-24 will have a positive growth in housing demand in the near future, as the government takes on infrastructure projects like widening of the 20km stretch on NH-24, between Delhi border and Dasna, to ease traffic congestion, the speedy execution of Uppal Wave Hi-tech Township, approval of Metro connectivity, among others.
A sixteen-lane NH-24, opposite Dundahera village near the ABES Engineering College is also under construction. Other benefits of investing here include the proximity of Noida and Indirapuram, which are 10km from this area, round-the-clock security with intercommunication facility at projects, academic institutions in close proximity, convenient shopping and grocery stores within the complex.

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