List of the Affordable Housing in Delhi NCR!
- July 16, 2016
These days, real estate market in top Indian cities recorded a massive annual to annual jump in the launches of affordable housing, as confirmed by property advisory firm. This movement is indicating a shift in strategy by the developers to beat the slowdown in real estate.
According to a report, 60% out to 100% units were only launched in Delhi NCR, which includes Delhi and its bordering cities like Bahadurgarh, Ghaziabad, Noida & Greater Noida etc. Strong importance on affordable homes by the Central Government and the growing properties price has ignited a spark in affordable housing not only in Delhi NCR but India.
Actually, sky rocketing property prices in Delhi-National Capital Region (NCR) have made housing too expensive for middle class buyers in search of 2 & 3 BHK Homes from long time. But this evolution in affordable housing is a ray of hope for them. There are many micro-markets in Delhi NCR where you can buy affordable homes at a very competitive market price. To make your home hunting easier, we short listed 3 top regions in Delhi NCR.
Raj Nagar Extension
Popular in the middle of first time home buyers, Raj Nagar Extension generally consists of mid-rise apartments in Ghaziabad with 1 & 2 BHK apartments available in the price of Rs. 10 -15 Lacs and 3 & 4 BHK apartments at around 25 Lacs to 50 Lacs. In this location, there are approx 30 small or big developers are active with more than 50 residential projects. According to the real estate agents & brokers approx 20, 000 units are ready to move in and 30, 000 units are under construction in Ghaziabad.
Main features that boost investment in this region are:
• Ghaziabad Development Authority (GDA) has assigned 500 acres along Hindon Canal as a green belt.
• A proposed elevated road from Hindon airbase will give fast connectivity with Delhi.
• Ghaziabad Development Authority has proposed to build a 6-lane Northern Peripheral Road intersecting NH-24.
• While reputed schools, a range of institutions of engineering & medical & local shopping markets with the presence of swanky malls, there are the major private hospital and good governance.
It is not like other bypasses in Delhi NCR, it is a 438 Kilometer-long stretch that connects Delhi to Lucknow and emerges as one of the most important roads in North India. If we talk about NH – 24 Bypass - currently there are 13 ready to move in development that offers approx 450 units and 30 residential developments with approx 20,000 under construction homes. The region has a range of integrated townships, schools, Banks, ATMs, hospitals and shopping arcades etc. Key points to pay attention for include:
• Major infrastructure developments including Delhi Metro Corridor up to the Ghaziabad New Bus stand.
• Extending the width of the highway to 8 lanes will reduce traffic jams and cut the traveling time to Delhi, Noida & Ghaziabad.
• Best medical facilities in Noida & Ghaziabad region like Columbia Hospital reputed educational institutes like IMS, Ryan International School etc.
Noida Expressway & Greater Noida
These days Noida Expressway & Greater Noida is considered to be one of the North India’s biggest residential & commercial hub with over 250 residential offering a wide range of options itself in affordable housing segment for the first time buyers to buy their dream home. More than 70 builders have been allotted plots here for building homes in low rise, mid rise & high rise development, to cater to an estimated population of 10 Lacs. Approx more than 2 Lacs homes will be ready for possession in next 2 years in this location. Best thing is that from the upper mentioned 3 locations, only Noida Expressway is the location that attract the attention of globally reputed developers, and Tata Value Homes Noida upcoming residential project in Sector 150 Noida is the best example of this term.
Major points for these developments in affordable segments are
• An under construction approx 15 kilometer long metro corridor between Noida & Knowledge Park in Greater Noida, that covers a huge part of this region.
• The under-construction FNG Expressway will boost the connectivity between Faridabad, Noida and Ghaziabad.
• The Greater Noida Authority is itself working towards improvement of infrastructure.
• A wide range of office complex alongside of Noida – Greater Noida Expressway, best institutes in Knowledge park, hospitals, sport city, and connectivity from Delhi, Lucknow and other major parts of India.
According to the real estate experts out of all these micro markets in NCR, Noida – Greater Noida Expressway is the best bet in affordable housing segment with good infrastructure, basic amenities, and peacefulness.