Amelioration In The City Leads To The Amplifying The Demand For The Properties In Indirapuram

Indirapuram is known to be the recently developed area of Ghaziabad

. It s the prime residential area and one of most preferred locality in NCR. Due to having the close proximity from the city Noida and Delhi, the real estate Indirapuram properties have been seen to reach at the highest demand. This city is located on NH-24 in Ghaziabad district of state Uttar Pradesh, India and is one of the posh localities in delhi NCR. As the city is located between three major cities like Ghaziabad, Delhi and Noida, hence the demand for the housing and the infrastructure of the Indirapuram are seen to be increasing dramatically at the fastest pace.

The main aspect of increasing demand of the project in this area is that this city has very well connectivity to Delhi, Ghaziabad and Noida, where one can reach in terms of railways, roadways, and airways. You find Indira Gandhi International Airport which is known to be the nearest airport and is located at a distance of 45 km.

The real estate Indirapuram is thus offering a strong potential for developing new residential projects because of the market value that has reached little below the saturation point. Mahagun, Amrapali, Vasundhara, Jaipurias, Gaursons, Supertech, Krishna Apra, Antriksh, Assotech, Parsvnath, Express Builders, Ashiana, Agarwal Associates etc are some of the eminent developers who have successfully launched their projects in this region. There are number of Indirapuram properties that have been launched by this developers, while most of the projects are still in pipeline. A total of 90 projects out of which 66 projects have been completed, while 24 seems to be under construction having the occupancy rate of 72%. The rate of over 26,394 flats vary between Rs 1900 and 4200 per sq ft.

Indirapuram has proved to be the most approved space for the investors for launching the commercial properties. According to the Lalit Jain from Jain Constructions who stated that property in Indirapuram is having huge demand especially in the high rise commercial towers with excellent amenities along with the good power backup facilities and proper centralized security and maintenance system. The main reason for the growth of the Indirapuram properties is the easy accessibility from the city Faridabad, Delhi, and Noida. It is situated at a distance of around 35 min drive from Delhi. This city is being featured with number of attractive malls like Premier Mall, Eros Market Park Plaza, Aditya Mega Mall, Sunrise Green Plaza, and Shipra mall which is known to be the crown of all.

With the marginal escalation being registered at the rate of 70-80% appreciation, the values for the residential property in Indirapuram have seen to be highly stabilized during the period of 2006-2009. Krishna Apra Garden, Divyansh Pratham, Eastern Height VXL Realtoes, Antriksh Apartments, ATS Infrastructure, Arihant Paradiso are some of the Indirapuram Property that are being launched in certain specific areas. The current capital value of apartments varies from Rs 3,500 to Rs 5,500 per sq ft.

Certain reported data suggests that the apital value for the properties in the Indirapuram especially in the malls vary from Rs 10,000 to Rs 15,000 per sq ft, while few premium malls are such as OC Square by ABA builders Limited also gaining up to Rs 24,000 per sq ft. According to the Dujendra Bhardwaj, director of JMD Realty Pvt Ltd states that he demand for the property in Indirapuram are highly increasing due to the advancement in the city.

by: Jitendra Kumar

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