Ambitious Developments Ahead: Ghaziabad Real Estate To Become More Lucrative
An overall lackluster performance notwithstanding, national capital's region's popular micro-market Ghaziabad has seen flashes of positivity off and on. In the near future, some of the developments that would further shape the Ghaziabad real estate are:
Metro rail extension
The Metro link between Noida-Sector 62 and Indirapuram may soon be a reality, with the National Highways Authority of India confirming that they have received a proposal from the Delhi Metro Rail Corporation in that regard.
Elevated road from NH24 in Ghaziabad to Raj Nagar Extension
Work started herein in November 2014. The six-lane Hindon elevated road is set to connect UP Gate to Raj Nagar Extension, reducing travel time from over 45 minutes to a mere 10 minutes. Work is expected to be completed by the target deadline of April 2017.
Rapid Rail Transit System (RRTS) from Delhi to Meerut
With its origin from Sarai Kale Khan, the RRTS would pass through Ghaziabad and terminate in Meerut. For its first phase, three corridors have been identified — Delhi-Meerut, Delhi-Panipat and Delhi-Alwar. Later, 16 more areas across the national capital region would benefit from this high speed, air conditioned rail network. If we overlook delays, in the next five years, this NCR market can boast high-speed connectivity — 92 km in 48 minutes only, as opposed to two to three hour's travel as of date.
Expanded city limits
For those who are looking at an investment in Ghaziabad, preferably on the outskirts and still wanting to be serviced by city governance bodies, here is good news. The administration is planning to extend the city limits. In future, areas such as Morti, Bhovapur, Ator Nangla, Mohan Pur, Mohiddinpur would become part of the Ghaziabad city. However, if you are looking at good returns, consider capital appreciation only in the long run.
Other important steps
- To check parking woes, the regional transport department proposed that during the registration of a new vehicle, the owner will have to submit an affidavit along with a map clarifying that they have an allotted space to park their car.
- Under a new policy — named the Control of Permanent & Temporary Encroachment Bylaws, 2016 — the city administration aims to control rampant encroachments across the city and impose a penalty on defaulters.
- The municipal corporation is looking at increasing the annual rental values of properties by five per cent. Although it does mean increase in house taxes, the corporation also proposed rebates on these taxes in four slabs up to January 31, 2017.
- In 60 designated areas in Ghaziabad, the UP government's 'Dial 100' services has started off. About 3,200 jeeps and 1,600 motorbikes have been linked to the control room that would track complaints through a GPS system.
- The Smart Cities Plan, too, has gained momentum. This time the authorities are concentrating on developmental work in Kaushambi, Vaishali, Maharajpur under the area-based plan. Green areas, intelligent city platform with a control room, e-bikes near Metro stations are on the radar.
- Amid complaints about blocked drainage and sewer lines, the corporation has set aside Rs 133 crore to address this issue. This is an effort under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT).