DELHI: Located along NH-58-Ghaziabad-Meerut Road-Raj Nagar Extension is considered as one of most affordable realty hotspots for end users and investors.
Developers and builders realized the potential of this area as a thriving residential hub and set about developing its property market in the last few years.
Today, the area has transformed with high rise projects dotting the area’s skyline. Also, the rates here are very competitive with 2-, 3-, and 4BHK flats available in the price range of Rs 2,500-3,500 per sq ft, depending on the size and location of the property.
Presently there are around 40 projects under construction by top developers of the NCR in the region. Developers like Gaursons India, Addela, KDP, Ajnara India, VVIP, SG Estates, SVP Group, etc, are some of the firms that have made it possible for Raj Nagar Extension to peg its real estate market as a competitive destination in the Delhi NCR.
Developers like LandCraft, Ashiyana, SG Impressions, Ajnara Grace, Devika Skypers, among others, have delivered several housing projects here.
The projects here came with the tagline of affordable luxury and timely delivery, and within around five years the area caught the attention of homebuyers of the NCR. The developing area has made sure that it delivers on all the parameters-one reason why end users and investors are flocking to this area, a realtor of the area said.
The attraction of this place is the physical and social infrastructure in place in this area. Leading school chains like Delhi Public School (DPS) and GD Goenka are already in place here, along with hospitals in nearby areas.
IMT Ghaziabad, a leading business school of India, is located in close proximity to this place. All in all, this place has got everything that a household would require. Even the shopping areas or bazaars are nearby as Raj Nagar itself is known for its famous wholesale vegetable mart.
Ajnara India Ltd has launched two realty projects, Ajnara Grace and Ajnara Integrity, which offer 2-, 3-, and 4BHK apartments.
Ajnara Grace, a budget-homes project, is strategically located on NH-58, along with Ajnara Integrity, offering modern amenities like party lawns, multiplex, waterfalls, parks, jogging track, gymnasium, clubhouse, etc.
Ashok Gupta, MD of Ajnara India Ltd, says: “It takes a lot of planning-about what to offer with respect to units, amenities, etc-in order to sell a project. But when you have a place that in itself offers so many amenities with respect to infrastructure and location, it becomes fifty per cent easier to sell the project plus there are not so many units that go in the inventory. So, having a property in a place like Raj Nagar Extension is a win-win situation for any one choosing to invest or live in the area.”
Gulmohar Garden by SVP Builders is an eco-friendly residential complex built according to international architectural style, which will match with the lifestyle of those who admire western living standards, a spokesman of the firm said. The homes are spacious with reserved area for greenery. After the launch of Gulmohur Garden Phase I, the developer has announced the launch of Gulmohur Garden Phase II, adjacent to Gulmohur Garden on NH-58 in Raj Nagar Extension, Ghaziabad.
Gaurav Gupta, director of SG Estate, says: “Raj Nagar Extension is one of the most thriving destinations in the NCR today, and it is all due to the affordable options that developers are providing to cater to the large housing demand. Nearly 2,080 units-in the price range of Rs 2,200-3,200 sq ft-have already been given for possession in Raj Nagar Extension. The authorities have also played an important role by making rapid infrastructural development in the area. Residents are satisfied with the living conditions and the facilities available to them. When we delivered possession of SG Impressions Plus and Impression 58, we got tremendous response from residents and, based on this, we decided to launch new projects like Impression 58 Phase II, SG Grand, and Indigo Tower SG Impression 58.”
Sunil Mittal, MD of Addela Group, says: “Raj Nagar Extension is good to invest in, especially in those areas where development has already taken place and people have moved in. We always knew that once the delivery of units happens, the area will see enhanced interest of buyers. The forthcoming area has been developed with the objective of offering a flawless destination to people with aspirations for better living and within their budgets. Located near the commercial and industrial hubs, the area also boasts of reputed educational institutes, specialized hospitals, etc, in close proximity to this area. Raj Nagar Extension stands apart as one of the best investment destinations in the NCR.”
Addela Group is developing Rajnagar Residency, a group-housing project offering 2-, 3-, and 4BHK apartment of 1,055-2,180 sq ft. Showcasing regular design and symmetry, the residences receive the best of nature, with nearly 75% area devoted to greens and landscaping, a spokesman of the firm said.
K World Group has a group-housing project, KW Srishti, on 10.5 acres and offers 1-, 2-, and 3BHK options.
KDP Infrastructure is developing KDP Grand Savanna, a group-housing project on 12.69 acres, offering 1,158 flats in 15 towers with 1-, 2-, and 3BHK options. Around 250 families have moved in while construction is in full swing to complete the whole project by March 2014, a spokesman of KDP Infrastructure said. The rates are quite affordable with the basic selling price of units in the project being Rs 2,650 per sq ft.
The best part of buying a flat or property in Rajnagar Extension is availability of freehold land and low rates. This area offers some of the cheapest land in the vicinity of Delhi and, if everything goes according to plan, this area will offer smooth connectivity to Delhi in a couple of years, a realtor said.
Techman Buildwell’s has started the second phase of its group-housing project, Moti Residency; the project is located at Motra Village in Rajnagar Extension. The project is over 20,000 sq metres and offers 1-, 2-, and 3BHK options at a basic rate of Rs 2,700 per sq feet. A spokesman of the firm said the company plans to give possession of the entire project by end of 2015.