DELHI: After Greater Noida West (Noida Extension), Raj Nagar Extension (RNE) on NH-58, under the jurisdiction of Ghaziabad, is developing as one of the most affordable destinations for middle-class homebuyers.
RNE is a one-stop destination for a wide band of middle-class end users who have several options of purchase from construction-linked plan to ready-to-move plan. Here 2-, 3-, and 4BHK flats are available in the price range of Rs 2,500-3,500 sq ft depending on the size of the property and its location. Builders who have already given possession or are giving possession in their projects include LandCraft, Ashiyana, SG Immersion, Ajnara Grace, Classic, Gulmohar, Devika Skypers, etc. Nearly 1,500-2,000 families have already moved into the finished projects here.
RNE started off with 12 developers who came together and built the physical and social infrastructure and then went on to raise their projects here-today, the developing area has more than 30 developers.
Many areas in the Delhi NCR came up with affordable-segment housing, but very few have been able to match up with the timely-delivery parameter. In around five years, RNE has more or less delivered on all the parameters. “Here the projects came up with the tagline of affordable luxury and we made sure that all the facilities come up on time, so that people who moved in here did not have to look to nearby developed urban centres for basic facilities,” a developer here said.
Improving infrastructure: Keeping the demands and trends of contemporary living in mind, the consortium of builders has launched ultramodern projects in the luxury segment as well.
Along with basic infrastructure in place, the area is well connected to Delhi and nearby NCR areas. The proposed Delhi Metro service from Dilshad Garden to Arthala, as well as a new substation, has been approved by the GDA. One of the major attractions of the developing area is the adjoining green belt, which will remain undisturbed because the GDA has declared 500 acres along the Hindon as a green belt and has banned construction activity in the area.
The area has got a boost with many projects lined up for improving the connectivity of the place: there is a plan to have a Metro station at Arthala—around 2km from RNE; the proposed Rapid Rail Transit System (RRTS) between New Delhi and Meerut will have station at Mohan Nagar—a few kilometers away from RNE.
Under the RRTS project, stations are likely to be constructed at Anand Vihar, Vaishali, Mohan Nagar, Meerut Road (Airtel Cut), Duhai, Muradnagar, Gang Nahar, Modi Nagar, Mohiuddinpur, Meerut Bypass Cut, and Pallavpuram.
To execute the proposed traffic decongestion plan for NH-58 and other roads in Ghaziabad, the GDA has decided to collaborate with the Raj Nagar Extension Developers Association. The authorities propose to restructure the NH-58 stretch-from Meerutcrossing (near the new bus stand) to ALTcut, and close down illegal cuts to allow free flow of traffic. Manoj Gaur, MD of Gaursons Ltd, says: “The developing residential area of RNE is near the bypass; one can travel to Delhi without crossing the crowded areas of Meerut or Ghaziabad. Another good thing about the area is that it is in the vicinity of posh localities of Ghaziabad.”
Ashok Gupta, MD of Ajnara Ltd, says: “The developing area is good for investment in areas where development has already taken place and people have moved in. We always knew that once the delivery of units happens on time, the area will see enhanced interest of end users and investors.”
Sunil Mittal, MD of Addela Group, says: “Raj Nagar has been developed with the objective of offering a flawless destination to people looking for a better living, and within their budget too. Located near the hub of commercial and industrial activity, the location boasts of reputed educational institutes, specialized hospitals, etc. Raj Nagar Extension stands apart as one of the best investment destinations in the NCR.”
Realty projects: Addela Group is developing Rajnagar Residency, a group-housing project which offers 2-, 3-, and 4BHK apartment of 1,055-2,180 sq ft. Showcasing regular design and symmetry, buyers here get to enjoy the best of nature with nearly 75% area devoted to greens and landscaping, according to the developer.
K World Group has a group-housing project, KW Srishti, on 10.5 acres. The project comprises 1,300 flats in 1-, 2-, and 3BHK options. The company plans to give possessions in the first phase in one year, while the whole project is expected to be delivered by end of 2015. The flats are available at the basic selling price of Rs 2,400 per sq feet.
Pankaj Kumar Jain, director of K World, says: “The best part of buying a flat or property in Raj Nagar Extension is the availability of free-hold land at low cost. This area offers cheapest land in the vicinity of Delhi and if all things go according to plan, in a couple of year’s time, this area will offer smooth connectivity to Delhi as well.”
KDP Infrastructure is building KDP Grand Savanna, a group-housing project on 12.69 acres; the project offers 1,158 flats in 15 towers in the 1-, 2-, and 3-BHK options, at the basic selling rate of Rs 2,650 per sq feet. The company plans to give possession of the complete project by March, 2014.
Tanuj Goel, executive, director of KDP Infrastructure, says: “RNE is the focus of housing development in Ghaziabad today. The location offers the most luxurious, and yet economy-based units, with features like proximity to Delhi, Metro line, multi-road, surrounded by lush green areas. This place is emerging as a location most conducive to a peaceful and natural living.”
Techman Buildwell has a group housing project, Moti Residency, in Motra village in RNE. Motra is one of the five villages, which have been earmarked by the GDA for RNE area. Moti Residency is being built over 20,000 sq metres and offers 1-, 2-, and 3BHK units at the basic rate of Rs 2,700 psf. The company has plans to deliver the entire project by the end of 2015. Vishwa Nath Agrawal, CMD of Techman Buildwell, says: “RNE continues to be the most affordable area for property; it has the added benefits of being in close proximity to Delhi and offering low-cost land and with free-hold title. Despite the various bottlenecks and delays in implementing infrastructure projects, the development authorities are supportive and are keen to speed up the work here.”