DELHI: Sky-rocketing property values in Delhi have led to a consumer perception of dearth in availability of homes in the affordable range. However, Ghaziabad, a suburb of the capital city, comes to the rescue for those looking for a property within Rs 20-50 lakh budget, with all modern facilities. Developers in the area are offering residential space with all facilities and amenities. The options are endless.
Raj Nagar Extension, growing adjacent to NH-58, Ghaziabad, currently has more than a dozen new residential projects where a homebuyer can find property within Rs 40 lakh. Data with MagicBricks.com shows that out of the total new launches in Ghaziabad, approximately 55 per cent are in Raj Nagar Extension. Few major developers having their projects here include Ajanara Integrity, Gaursons Ltd, SVP Group and SG Estates Ltd among others.
Also, Raj Nagar Extension comes across as a popular real estate destination because of its connectivity and affordable property values. Ajay Singal, Director, Avalon Group says, “Raj Nagar Extension offers many options within a budget of Rs 40 lakh. Apart from availability of properties, the area also offers decent rental values and good appreciation potential in the coming 3-5 years.”
Areas along the NH-24 also offer a host of residential properties in the affordable budget. Townships and group housing projects such as Crossings Republik, Ansal Sushant City, Wave City, Landcraft Golf Link and South Asian Real Estate offer many plots, single floors and apartments within Rs 50 lakh.
Mohit Arora, Director, Supertech Ltd says, “Property values in Crossings Republik have appreciated by 20 per cent in the Jan-Mar 2013 quarter. The values will continue to grow as there is limited supply and the affordable values attract many homebuyers. You should buy here as it is the right time to invest for both the areas.”
Thus, if you are on a lookout for homes in the range of Rs 20-50 lakh, Ghaziabad is the place for you.