Housing boost for Ghaziabad

People who have witnessed the pace of development in Ghaziabad are vouching for the fact that the region will soon surpass the developments taking place in other NCR towns of Gurgaon and Noida. Both commercial and residential segments are registering an equal amount of construction. From world-class integrated townships to malls, the options available for both the investor and the buyer in Ghaziabad are immense.
Till a few years back, the periphery of the national capital ended just before the river and people living beyond that point were looked down upon as down-market populace. Then, Ghaziabad hardly had anything to offer by way of entertainment, quality education or health care.
Created on November 14,1976 from Ghaziabad tehsil of Meerut district, the small time town of Ghaziabad, which was considered ancient till some time ago, has come a long way. The entire skyline of Ghaziabad region has undergone a drastic makeover.
Vijay Kumar Jindal, CMD of SVP Builders, says with rapid development taking place, the fact that real estate prices have simply skyrocketed comes as no surprise. “The likes of Indirapuram, Vaishali and Vasundhara can today be regarded as synonymous with the success and makeover of Ghaziabad. A prime residential property in the city commands as good as what any body can get in the national capital.
From urban housing, social infrastructure to multiplexes, malls, ecology, educational centres, the city has been able to establish a strong image as a residential suburbia in the last three years.”
According to Sandeep Goel, MD of MSX Developers Pvt Ltd, price cut is required to boost demand. “We foresee that in 2009 even the bigger developers will be forced to cut prices to boost demand. Some developers are giving discounts to existing buyers who haven’t defaulted on payments. With weak demand and fund-raising becoming increasingly difficult, there is a high probability that small developers with poor balance sheets will fall. Quite a few will also halt construction. This will benefit large developers sitting on cash, but can also leave buyers in the lurch. Developers are holding back new project launches due to the credit crunch.” In such a scenario, unsold properties, especially in projects in which only a couple of units remain unsold, will offer a great opportunity for bargains.

Courtesy:- Times Business dtd:- 03rd Jan 2009