Realty projects for mid segment in Delhi NCR
Feb 07, 2014
Source : The Times of India


DELHI: Mohan Nagar in Ghaziabad is registering aggressive real estate activity owing to the affordable housing options that developers are providing here. Thousands of people who are denied a chance of owning a house in plush locations of the NCR like Delhi, Noida, and Gurgaon are seeking out projects in this area.

Anuj Chaudhary, director of Panchsheel Group, says: “People have to compromise between having to live in the peripheral areas of the main cities at affordable rates and shelling out their entire savings for small-size apartments in Delhi or Noida. But if you consider Mohan Nagar, it can give you the best of both the worlds. You can be in close proximity to Delhi, Noida and other parts of Ghaziabad, while at the same time getting all the benefits of living in a well-planned city.”

The connectivity and infrastructure of Mohan Nagar are second to none and these are driving growth in the area. The Ghaziabad Development Authority (GDA) has an action plan to invest Rs 3,700 crore in this area.

The entire plan involves 12 projects: widening of major roads, highways, construction of rail under bridge and over-bridge, extension of the Metro line from Vaishali to Mohan Nagar and Dilshad Garden to Arthala. The Mohan Nagar intersection will become a major interchange point for commuters to switch over between the Delhi Metro and the proposed Regional Rapid Transport System (RRTS), an intercity high-speed train connectivity project which will also have a station at Mohan Nagar.

Also, the forthcoming loop flyover on the crossing of the Mohan Nagar traffic signal will be a great relief for the residents. While the loop over-bridge would facilitate uninterrupted traffic flow, the bridge being built over the Hindon river will ease commuting hurdles for those travelling from Delhi to Ghaziabad, Meerut, and Haridwar.

Vijay Jindal, CMD of SVP Group, says: “If you talk about the facilities that are in store for you, there are excellent educational facilities, hospitals, healthcare clinics, malls and movie theatres. Reputed institutions like Delhi Public School (Ghaziabad), DAV Public School, Holy Angel School, and Mount Litera Zee School are all located in this area. Krishna Engineering College and a dental and engineering college are located on the road to Hindon air force station from the Mohan Nagar traffic signal. Colleges for higher education like LR Post Graduate College and Institute of Management & Education are also within a radius of 1km from this place. Apart from these, Narinder Mohan Hospital, Heart Centre, Shyam Hospital, and BR Hospital are in close proximity to this place.”

Houses are available at very reasonable rates in Mohan Nagar. The cost of 2BHK and 3BHK apartments varies between Rs 40 lakh and Rs 70 lakh here. Many of the residential projects have common facilities like clubhouses, swimming pools, parking, playgrounds, etc.

Even after an appreciation of nearly 20-25%, Ghaziabad offers good deals for ready-to-move-in housing where rates start from Rs 4,500-5,000 per sq ft, which is really competitive. Some experts say these are some of the finest and most affordable options for end users in the NCR region.

“One of the most sought-after residential projects in Mohan Nagar is Gulmohur Greens Phase I and II by SVP Group. The project has been designed by the architects of international repute and is equipped with state-of-the-art technology, ultramodern amenities and features. The project has around 1,200 residential units, including flats, villa apartments, and 3-tier penthouses with terrace gardens and pools,” Vijay Jindal of SVP Group said.

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