NH 24: Realty hotspot for middle class buyers
Oct 25, 2013
Source : The Times of India


DELHI: Areas along NH-24—the region in the vicinity of trans-Hindon areas of Ghaziabad, Noida, and Greater Noida—have become a favoured destination for realty development with buyers flocking to the area for their affordable-range housing options. Even development authorities like the Ghaziabad Development Authority (GDA), the UP Awas Vikas Parishad, and Municipal Corporation of Ghaziabad have shown keen interest in developing the region and position it as an ideal residential destination.

Why NH-24

Today, NH-24 is being considered as one of the most important realty hotspots in the Ghaziabad region and even investors are showing keen interest in the projects coming up here.

This stretch directly connects with Hapur, Moradabad, and Lucknow and has registered a lot of development with investment potential.

This stretch promises a lot for any person who is looking for an affordable house. Many developers are coming up with projects on this stretch to meet the burgeoning demand of the middle-class buyers. Work on widening the expressway roads to make them signal-free, flyovers, underpasses, and several internal as well and peripheral roads, is in progress.

The forthcoming residential projects here are well connected to national highways like NH-24 and NH-91 and are in close proximity to Rajnagar and Kavinagar. The area is also in close proximity to primary infrastructure like malls, shops, hotels, restaurants, petrol pumps, schools, colleges, and hospitals (Columbia Asia Hospital).

Other facilities like Lalkuan police station, post office, bank branches, ATMs, the Ghaziabad railway station, the ISBT, the proposed Metro station, etc, are easily accessible from the projects being launched here. This area is just off the busy highway and thus avoids pollution-related hazards. Some of the leading schools and colleges near these forthcoming projects are Ryan International, Silver Line School, Gurukul School, ABES Engineering college, SIMS Management college, AKG Engineering college, New Era college, etc.

Improving infrastructure

The GDA has got the go-ahead to widen NH-24 from four to six lanes. The Union surface transport ministry has approved the plan for the three underpasses that were proposed by the GDA.

The GDA recently sent a proposal to the NHAI to transfer land to the authorities to construct these underpasses and FOB (foot-over bridges) that would be built to decongest traffic. The authorities will utilize existing underpasses at Shipra Mall and the carbon factory along the NH-24 and lay new service roads to divert traffic.

Noida authority is also planning a flyover from the old FNG highway apart from a semi-cloverleaf.

Santosh Yadav, vice-chairman of GDA, says: “NH-24 is an important expressway where a lot of construction activity is taking place. The road transport and highway ministry has finally moved the proposal to convert the Delhi border-Dasna stretch along NH-24 into an eight-lane corridor. The widening of the 20km corridor, which is used by over two lakh vehicles on any weekday, will bring relief to commuters who often get caught in long jams. This recent development has made it an ideal place for all those looking for commercial or residential solutions.

The three new underpasses proposed by GDA will be constructed along the stretch from Lal Kuan to UP Gate. Besides, the GDA has proposed new service roads at Chhajarsi, CISF crossing and Kala Patthar, which will be aligned with the national highway in order to prevent congestion at these points and streamline traffic between Ghaziabad and Noida.”

Also, the widening of NH-24 and the 22km-long link road from Greater Noida to Ghaziabad has infused lot of potential for the surrounding areas here (along NH-24). In fact, the link road directly connecting Greater Noida to NH-24, which is operational, is attracting buyers to Crossings Republik and Indirapuram. Although it will take some time to ease traffic along the crowded Vijay Nagar Chowk, residents of Crossings Republik and Indirapuram, along with Greater Noida West (Noida Extension), are going to benefit immensely once all these connectivity issues are sorted out.

Rakesh Yadav, MD of Antriksh Group, says: “For Ghaziabad, internal connectivity has been a big challenge—after all, it requires smart and good connectivity to attract buyers. After NH-24 is widened, the residents and people transiting along this area will get over with the daily traffic congestions at major link points like CISF Chowk, Indirapuram Chowk, Kala Patthar, and on till Ghazipur Crossing.”

Manoj Kumar Goyal, CMD of KDPMGI, says: “NH-24 is the lifeline of Ghaziabad and the new master plan has worked as a booster for the realty sector. The increase in lanes and link roads will definitely solve traffic issues and make the residential and commercial projects very attractive.”

Realty projects

Real estate experts believe that once basic infrastructure like connecting roads, traffic, transportation, etc, improve, the developing area of NH-24 will become one of the prime locations in the NCR to live in. Realty firms like Wave Infratech, SARE Homes, Landcraft, Ashiyana Homes, Ascent Buildwell, Aditya Group, Nitishree, Jaipuria, etc, have launched projects here with some in a position to deliver their units.

The UP Awas Vikas Parishad has launched a highrise residential township project, Siddharth Vihar Yojna, on NH-24-across Hindon and adjacent to Antriksh Sanskriti. This a joint venture with Raksha Vigyan Society. The UP Awas Vikas Parishad has acquired 700 acres for this project; there will be three categories of flats in the forthcoming project-Ganga, Yamuna, and Hindon Enclave.

Antriksh Group is developing Antriksh Sanskriti, a residential project on NH-24, which will have 2-, 3-, and 4BHK flats. Other facilities include a clubhouse, open and covered car parking, and 24-hour power backup. Wave Infratech Ltd is developing a mega high-tech township project, Wave City, over 4,500 acres along NH-24. Wave City promises modern lifestyle amenities like mechanized cleaning and sweeping, closed loop city mass rapid transport system, a two-acre park for every 400 people, and a lake spanning over 3 acres.

R K Panpalia, MD of Wave Infratech, says: “As prices on this stretch are still affordable, people are keen to buy here; the response of the people to our project is heartening and we are getting a lot of inquiries for our products.”

SARE (South Asian Real Estate) Group has Springview Heights on 88 acres and an integrated township called Crescent Park on NH-24. The project has six towers with seven clubs, with each tower having its own club; there is one common club and a central park on a 10-feet-high landscaped, elevated podium, complete with a sky lounge terrace and entertainment features.

A spokesman of SARE Group says: “The developing township is in an advanced stage of construction. Families have already moved into Phase 1; Phase 2 is nearly complete and ready for possession while construction in full swing on Phase 3 of this project.” Apart from residential set-ups, NH 24 is also developing as a commercial zone. A numbers of malls and retail outlets have been planned here, which are expected to offer one-stop solution to the residents of this region.

Looking at the potential growth of this area, Ascent Buildtech has launched its first commercial project, Ascent Arcade, here. Suresh Gogia, CMD of Ascent Buildtech, says: “Ascent Arcade is a commercial project that will offer retail and office space; it will cater to the daily household requirements and also be a perfect space for professionals working on cost-effective budgets. With planned development of realty projects, NH-24 will soon become the next residential hub; at the same time, it will require well-established commercial outlets to meet the needs of the residents, which we are delivering.”

Pawan Jasuja, director of Finlace Consulting, says: “Demand for office space and retail is likely to rise as people shift here; most professionals will look to work out of this area itself, if possible, and avoid traffic to save on time and money. The strategic location of Greater Noida West, just adjacent to NH-24, will lend some pace to this development. NH-24 is an emerging location and, no doubt, the available land bank and low rentals will attract more buyers to this location.”

Latest Realty News

Plot owners to challenge HSIIDC property rules
Oct 25, 2013
DELHI: Plot owners in Udyog Vihar have renewed their efforts to get the state to impose a revision on the controversial property norms of the industrial area. The local association on October 23 lashed out at the industry authority HSIIDC, calling the latter’s demand for a special fee for transfer or leasing of plots illegitimate.
Housing demand picks up in NCR; sales up 18% in January- June
Oct 25, 2013
DELHI: Housing sales have risen by 18 per cent in the Delhi-NCR region during the first half of this year at 35,000 units, showing signs of improvement in the property market that has been facing slowdown in demand.
Real estate emerges as new investment destination for banks
Oct 24, 2013
DELHI: Real estate has emerged as a hot investment destination with banks, as projects in other sectors of the economy have faltered, prompting banks to rush to fund commercial realty despite slow demand and inventory pileup.
Gurgaon shows resilience to recession
Oct 24, 2013
DELHI: Golf Course Road continues to dominate Gurgaon’s suburbs as the prime address for both residential and commercial property. It is followed closely by Golf Course Extension Road, which is emerging as yet another zone for luxury real estate and golf-themed projects.
With 840 sq ft office space per person, Air India staff enjoy a palatial tower
Oct 24, 2013
DELHI: The 268 employees of Air India currently stationed in its 24-storey eponymous building at Nariman Point in Mumbai have a rare privilege no other office-goer in the area can think of.
What to Look for in a Township Property
Oct 24, 2013
DELHI: In the present era of Indian real estate, townships have become the most important model of real estate development in the foreseeable future. Blame infrastructure that has not stayed in tune with the actual real estate development in the large Indian cities. The citizens have become victims of intense chaos and lack of civic amenities.
Save money: Tips before you take a home loan
Oct 24, 2013
DELHI: Home loans can be very beneficial for property buyers, as they not only help you buy your dream home, but also help you save on taxes. But you must remember to choose the right home loan if you do not want to face the hassles in the process. Here are a few quick tips that you could keep in mind while applying for a home loan. These tips could help ease the complicated procedure a little bit and at the same time help you save some money.
Simplify financial life: Calculate your home loan installments using MS Excel
Oct 24, 2013
DELHI: For many people, owning a house is one of the most significant financial goals. With property prices rising faster than our savings or incomes, a home loan is the best way to fulfill that need.
Home buyers in no hurry, expect real estate prices to fall by up to 10%
Oct 24, 2013
DELHI: Home buyers across the country expect real estate prices to fall by up to 10% over the next six months and they are willing to wait for over a year to buy property, a study by IIMBangalore and MagicBricks has found, signalling that festive season offers by developers have failed to attract buyers.
Centre to appoint realty experts in 15 states to boost housing
Oct 24, 2013
DELHI: The Centre will soon appoint real estate experts and consultants in 15 major states for helping them to prepare affordable housing policy and streamline the rules for approving realty projects, a top government official said today.

Latest Realty News Of State

Realty Talk's