DELHI: Meerut has a lot of land for development and is fast turning into a strategic real estate destination for realty players and buyers. As real estate prices have gone through the roof in other NCR regions like Noida, Gurgaon, and Ghaziabad, Meerut’s realty market has shaped up as an ideal destination that is not only catering to the increasing housing demand, but also maintaining the prices within affordable limits.
Why Meerut: With a number of domestic and foreign players across industries shifting base to Tier II cities, the demand for real estate in these developing townships is going up.
The realty market of Meerut has shown phenomenal potential for growth. For people who cannot afford to buy an apartment in Delhi but wish to remain close to the city, Meerut is a cost-effective option. The price of residential units in secondary market is currently quoting in the range of Rs 1,800-2,000 per sq ft.
Advantages: There is a great demand for quality accommodation units on the outskirts of Meerut, which has excellent infrastructural facilities, sound planning, as well as top-grade security.
The most sought-after location is along the Meerut Bypass. Also, the Hapur Road and the Cantonment Road are gaining prominence as ideal destinations for property investments and are attracting large developments. Of late, commercial and residential complexes are coming up on Mawana Road and Modipuram on the Muzaffarnagar Highway.
Meerut has the distinction of being the largest supplier of sports goods and also the largest manufacturer of musical instruments in India. Apart from real estate development, Meerut has the potential to attract institutional and industrial set-ups; the town already has a number of small and large-scale industries, schools, colleges and higher education institutes like engineering, medical, management, and pharmacy colleges.
Market trends: The realty market is buoyant as prominent builders are coming up with new projects here. Some of the developers here are: Alpha G:Corp, Ansal API, Ansal Housing and Construction Ltd, Supertech Ltd, Godwin, Apex, A to Z Builders, Gayatri, BG Infrastructures and Developers, etc.
Realty projects: Rudrabhishek Group’s UP Infraestate is coming up with a m e g a townr s h i p project on 150 acres on Bypass Road in Meerut; the project offers plots, villas, duplex units, floors, highrise apartments, and luxury penthouses. The project will have a commercial centre, a fully-equipped club with ultramodern facilities, educational and healthcare facilities. The township will be landscaped and have facilities for rainwater harvesting, 24×7 power backup, Wi-Fi network, fully-secured complexes, etc.
Pradeep Misra, promoter and director of Rudrabhishek Enterprises Pvt Ltd (REPL), says: “The first phase of our township project will be on 60 acres and we will complete it in 36-40 months. We are making every effort to see that the township has all the modern amenities, so that our customers enjoy the benefits of a metrostyle living within Meerut, something unheard of only a few years ago in Meerut.”
Alpha G:Corp is developing Mainland Meerut on 19 acres; the project will feature low-rise ultramodern group-housing block, Meerut One, with apartments and villas. The development will also have Alpha One, a commercial centre with a shopping mall, a multiplex, a business hotel, and a shopping outletall over 3.5 lakh sq ft. This mixed-use development is strategically located on NH-58 connecting Delhi to Haridwar, and will integrate world-class shopping, entertainment, and recreation facilities with residential units. Meerut One comprises 30 low-rise, ground plus 4-storey cores, with four apartments to each core. The apartments will be available in 2- and 3BHK format, as well as villas. Every tower comes with stilt parking and open parking along the boundary wall.
Prodipta Sen, executive director and head (marketing & retail) of Alpha G:Corp, says: “The project has been designed by ARCOP, leading architects of Montreal, Canada. Mainland Meerut will offer an international-quality living experience to residents of the city and also cater to Meerut’s rising need for quality infrastructure. This project will offer a lifestyle on a par with major metros like Delhi and Mumbai. The project’s strategic location, state-of-the-art clubhouse with modern amenities, shopping complex, and business hotel will definitely set new standards of quality in Meerut’s real estate industry.”
Ansal Housing and Construction Ltd entered Meerut’s realty market in 1990. Currently, the group has two projects, Ansals Courtyard and Ansal Town, on Meerut-Modipuram Bypass, NH-58.
Ansals Courtyard is a gated project on 8 acres and offers modern amenities like a swimming pool, children’s play area with swings, power back-up for common services, a sophisticated fire fighting system, earthquake resistant construction, and convenient superstore facility. The project consists of 404 units comprising 2BHK (1,046 sq ft) and 3BHK (1,670 sq ft) flats as well as ground plus two independent floors of 1,256 sq ft. The 2BHK flats are priced in the range of Rs 20.40 lakh to Rs 23.54 lakh. The project is at an advanced stage of development and possession has already been offered to nearly 60% of the customers, a company spokesman said.
Sunil Taneja, senior GM (marketing) of Ansal Housing & Construction Ltd, says: “We at Ansal Housing believe in providing quality and convenience to our customers. Our projects in Meerut will provide residents an amalgamation of modern lifestyle with small-town bliss.”
Ansal Town, almost next door to Ansals Courtyard, is coming up on 65 acres and will have nearly 2,100 dwelling units. The township offers plots, villas, duplex, independent floors and 2- and 3BHK apartments, with modern facilities like modular kitchens, a shopping galleria, a school, a multiplex, and a clubhouse. A number of families have already taken possession in the township, which is at an advanced stage of development, the spokesman said.
Supertech Ltd has residential and commercial projects in Meerut. After completing Shopprix Mall, Country Inn & Suites, and Hyphen, Supertech is developing Sports City on 51.06 acres. The Sports City is strategically located on NH-58 (Roorkee Road) near Pallavpuram. This integrated township has a beautifully-designed highrise tower and superb villas along with a full-size cricket stadium, a boating lake and putting greens. Supertech has another project, Green Village, on 25 acres at Hapur Road Bypass. Green Village has around 1,200 units of low- and highrise apartments built with most modern amenities like an international-standard club with 7-star facilities. Green Village offers 2-, 3- and 4BHK low- and highrise luxurious apartments and duplex penthouses.
R K Arora, CMD of Supertech Ltd, says: “Green Village will provide flats and apartments to the middle-income group, which cannot afford the burden of living in a metro, yet cherish the modern and comfortable amenities that are available in a metro city.” Ansal API’s Ansals Landmark Holdings has developed an integrated township, Sushant City, on 300 acres under MDA’s Ved Vyas Puri Yojna scheme on Delhi-Dehradun bypass road near Subharti University. The integrated township offers built-up houses, independent floors, grouphousing units, and villas and will cater to the housing requirements of nearly 5,000 families. The group has plans to develop the second phase of the integrated township on 30 acres adjoining Sushant City.