DELHI: Owing to comparatively lower property values than other parts of NCR and good connectivity, Ghaziabad has developed as a preferred residential location for youngsters working in the IT hubs of Noida and Greater Noida. These young professionals being single or having small families look for smaller residential units. It is thus, no surprise that 2BHK units are the most preferred configuration in Ghaziabad.
Data further revealed that localities such as Indirapuram, Crossings Republik and Vaishali recorded the maximum interest for these units in Ghaziabad. Karan Kukreja, Director, Property Studio, a city based real estate firm explains, “People working in the IT sectors of Noida particularly in Sectors 62 and 63, show a keen preference for Indirapuram due to ease of connectivity. As these are generally youngsters with maximum two or three family members, they opt for 2BHK apartments with an average size of 1100 sq ft.”
“Further, on an average, there is a difference of nearly Rs 20-25 lakh between a 2 and 3BHK unit in Ghaziabad. For instance, in Crossings Republik a 2BHK unit costs around Rs 40-42 lakh while a 3BHK commands anywhere between Rs 60-65 lakh. As buyers here largely belong to the middle income group they cannot afford to spend an added Rs 20 lakh for a larger unit,” adds Kukreja.
In line with demand, developers are also coming up with 2BHK units in Ghaziabad. As per MagicBricks.com data, more than 45 per cent supply was observed for 2BHK units in the Jan-Mar 2013 quarter. “Developers realize that in Ghaziabad the market is largely for housing in the Rs 30-60 bracket and within this bracket 2BHKs are the best they can offer. For instance, developers who are constructing only 3BHK units in Noida are offering 2BHK units as well in Ghaziabad,” says Sanjay Saxena, owner, Aditya Associates, a city based realty firm.
Some of the developers in Ghaziabad offering 2BHK units include SVP Group, Sare Homes, Ekdant Group, ABA Builders, Saya Group and Ajnara Builders among others.