Buying Property in Ghaziabad would now cost you more

Ghaziabad Property at Makaan.com

Remember the uproar that was created with the release of the movie 'Zilla Ghaziabad'? As the city was   portrayed as a nerve center of the worst form of crimes, people objected to it vehemently. Well, the city is indeed a hub of several nefarious activities. But all this ruckus did not deter the end-users from buying property in Ghaziabad. May be it is the affordability thing that has made people overlook the negative factor. As a matter of fact, the inquiries for the residential spaces have increased manifold in the recent months. As per a report of HT, there has been a phenomenal raise in the number of property interrogatories in the first quarter of 2013.

The prices, in such a scenario, are doing what they always do.... As the demand for flats in Ghaziabad has been an upsurge, the prices too are escalating, as high as 40%. This is a practically good situation for the investors who are eying on long-term profits out of their money. Seeing the hike in demand has further benefited the builders  as they have put a stop to the discounts on hoses rates they were offering hitherto.

Some of hot localities where the demand has escalated include Raj Nagar Extension, Vaishalli, Indirapuram, Vasundhra, and Crossing Republik. The prices of Ghaziabad flats in these areas have grown up anywhere between 3-30%. The price per sq. ft in Vaishalli in the month of August stood at Rs. 5880, a 21% increase from past one year. At Vasundhra, the psf has undergone a 19% hike, the value in August being Rs. 5415. The more affordable localities are Raj Nagar Extension, NH-24, and Crosslink Republik. In these areas, the psf ranges between Rs. 2500/- and Rs. 3500/-.

The prices, in spite of their recent hike, are still affordable for buyers seeking property in Ghaziabad. At Indirapuram, a 2 BHK flat can fall in the range of 30k-80k, depending upon the sq. ft area covered. Vaishalli is much cheaper: for a 2 BHK, you need to pay around 30-45k. And Raj Nagar is even more cheap: the price range of 25-30k for a 2 BHK isn't a big ask from you. Is it?

Search properties to buy or rent at Makaan.com, the fastest growing property portal in India. Choose properties on the basis of dimensions like price, location, age of construction, type of furnishing etc. The residential and commercial properties areas have been made available from owners, builders, and agents.