DELHI: Vaishali has become one of the most preferred real estate destinations of New Ghaziabad (trans-Hindon regions), as the infrastructure here has improved vastly and Metro connectivity is in place.
Demand for residential property is very high in the area and till now supply had been adequate. As the demand in this area is still growing, Vaishali is the place for investors. The location is very good for end users; too, as proximity to Noida-Greater Noida has ensured that residents here have easy access to all the lifestyle amenities and other commercial establishments in the twin cities. The new realty projects here have been built on a par with global standards in design, aesthetics, and material. Many of them have been built with a focus on environmental friendly and energy-saving concepts and ensure optimum ventilation and natural light in every apartment.
Vaishali is only 10km from ITO in Delhi and is adjacent to Dabur Mohan Nagar Road.
The factors favouring growth and attracting buyers are the social and physical infrastructural development of the region for the Commonwealth Games, the extended Metro track and proximity to Delhi and Noida.
As property prices in Delhi are out of reach of most people, and with even places like Indirapuram and Kaushambi getting crowded, end users and investors are turning their attention towards Vaishali.
Vaishali has emerged as a popular destination for middleclass buyers. This developing area is fully developed with a lot of group-housing projects, top-end schools, hospitals, malls, etc. The greatest advantage of this region is its proximity to central Delhi, Noida, and Ghaziabad through road and the Metro network. Prices here are in the range of Rs 5,500-6,500 per sq ft.
Residential and commercial properties here have registered good appreciation in the last few years. Rakesh Yadav, the MD of Antriksh Group, says: “Metro connectivity always leads to a rise in real estate values, as seen across the Delhi NCR. Most new investors now inquire about the distance of a property from the Metro line before buying it. The area is very popular with investors as the values here are not as high compared to many localities in Delhi, Noida, and Ghaziabad.”
Real estate development
Developers and builders like Ansal Group, Amrapali Group, Antriksh, Supertech Ltd, Ashiana Housing Ltd, Gaursons India Limited, Mahagun, DesignArch, Ramprastha Group, etc, have developed several projects in this area.
Property rates have also been steadily rising in the last two-three years, especially after the Metro line here became operational. Experts say that once an area has Metro connectivity, property prices appreciate by as much as 20-30%. Property rates in good locations of Vaishali that were in the range of Rs 4,000-4,500 per sq ft before the entry of the Metro line are now quoting at around Rs 6,500 per sq ft. Realty projects near Metro station in Sector 4, Vaishali, have reported a very good appreciation. Service-class end-users prefer highrise apartments over builder floors as those gated communities offer parking, power backup, 24×7 water supply, good security, etc.
Kushagr Ansal, the director of Ansal Housing, says: “Vaishali has grown as a residential hub in the last five years. The extension of Delhi Metro up to Sector 4 in Vaishali has helped the growth of real estate in the area. The extended Delhi Metro track that directly connects Vaishali and Kaushambi to the Dwarka line is also operational. This service has become a lifeline of the residents here, who use it to avoid heavy traffic on link road near Dabur and the road connecting Anand Vihar at peak hours. Metro connectivity has led to a dramatic increase in property prices here.”
Manoj Gaur, the MD of Gaursons Ltd, says: “Along with growth in commercial realty segment, Vaishali is also seeing a lot of infrastructural improvements making it one of the fastest growing areas. Another reason for the boom in the property market in Vaishali is the availability of cheaper options compared to Noida and Gurgaon.” “Along with the growth of residential real estate, there is also an increase in commercial activity in the area. Vaishali has many popular malls like Ansal Plaza, Shopprix Mall, Mahagun Metro Mall, Angle Mall, Bikaner, Haldiram, etc, which are attracting huge footfalls,” Ansal says.
The prime residential areas near the Metro line have registered a steep rise in capital and rental values. The number of queries for residential properties is also very high in these areas. In areas like Indirapuram and Kaushambi, capital and rental values have also gone up substantially due to the Metro line in those areas.
Vaishali property market offers great options to investors as it promises handsome returns in the future.
Indian real estate is a huge hit with property investors not only from within the country but even among NRIs and foreign investors.
The GDA (Ghaziabad Development Authority) has played an important role in the expansion of realty sector across Tier II, III, and IV cities under its jurisdiction. The skyline of the country is changing with gargantuan developments in residential, commercial, and retail property sectors.
The developments in Ghaziabad real estate are also in line with the growth in the realty market seen across the nation.
Anil Sharma, the CMD of Amrapali Group and president of Credai, NCR, says: “One of the prime reasons that fuelled the real estate market in Vaishali is its easy connectivity with Delhi, the national capital, which puts it very high in the preference list of business leaders. After the rapid commercialization of Gurgaon and Noida, it is the turn of smaller satellite towns as potential business destinations. The evolution of Vaishali’s real estate is at a nascent stage and calls for more investment to take it to a world-class level.”