Affordable Destinations of NCR: Bhiwadi, Faridabad & Ghaziabad

 

Bhiwadi - 15th Feb 2015

Delhi – NCR (National Capital Region) metropolitan region amounts for about 46,208 sq. km area accommodating over 45 million people and is ranked as India’s largest and world’s second largest urban agglomeration after New York city. The region attracts huge in-migration volume and thus, creates a pressure on the land supply which is handled by NCR Planning Board (constituted by the govt. of India by NCR Planning Board Act, 1985). This board tries to focus on the development radially outwards towards other districts in neighbouring states thus, expanding land area of the NCR belt altogether. The NCR belt is further divided into four sub-constituents: 1. Haryana Sub-Region 2. Uttar Pradesh Sub-Region 3. Rajasthan Sub-Region and 4. Delhi region with a stable government at Centre, consumer sentiments are getting positive and there is an increase in the real estate activity.

Reports suggest that there was a surge of almost 50 per cent in Private Equity funds in 2014 as compared to 2013 in the realty market of Delhi-NCR. NCR is experiencing a consistent residential demand owing to exorbitant prices in the National Capital. The growth of NCR belt brings fresh development opportunities to these new sub-regions which contain huge untapped residential market potential. This report gives an overview of the three prominent markets in NCR namely Bhiwadi, Faridabad and Ghaziabad.

BHIWADI (Rajasthan)

Bhiwadi, in Alwar district of Rajasthan is an emerging industrial and real estate hub.The area is an important emerging industrial area with industries such as steel, furnace, electronics, engineering, textiles, pharmaceuticals, printing, cables, rolling mills, food processing. A number of SEZs are coming up in and around Bhiwadi by RIICO and DMIC. The proposed Neemrana Airport is also in close vicinity of Bhiwadi. When compared to other areas of the NCR, the prices in Bhiwadi are still reasonable in the budget of Rs 18 lakh to Rs 50 lakh. Both, Bhiwadi and Dharuhera have emerged as credible alternative to Gurgaon in terms of affordable housing, industrial areas and real estate growth. On a long term perspective, one may expect at least 20 per cent returns year on year. But if one is looking to invest for a short period, then it is not advisable to consider it for investment.

FARIDABAD

With realistic property values, good connectivity coupled with upcoming infra upgrades, Faridabad is expected to be the next hotspot in NCR. One of the largest cities in Haryana, it is surrounded by Noida, Gurgaon, Greater Noida and Delhi. It enjoys connectivity to other cities such as Mathura, Palwal and Agra via NH-2.

GHAZIABAD

Ghaziabad is referred as the “Gateway to Uttar Pradesh”. It is the administrative headquarters of Ghaziabad District with well-planned industrial sector and good connectivity through road and rail network. It’s also a centre for primary commercial activities and is considered the educational hub of Western Uttar Pradesh. Being a major rail junction of North India, there is rise in the residential development of the region with major preference for high-rise apartments.

Source: Common Floor

 

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