Ghaziabad is a satellite town and also falls in the National Capital Region. It is one of the fastest growing towns in Uttar Pradesh. Proximity to other prominent towns like Noida, Greater Noida makes it all the more lucrative for investment in real estate.
Rapid industrialization, along with proximity to Delhi is another important reason that the town has grown tremendously in the last few years. The local government is taking all possible steps for developing the town by providing better facilities. Development of infrastructure, good connectivity, erection of commercial properties like shopping malls, etc are other prime reasons for rise in the prices of both commercial and residential property.
The above developments led the city to be featured in Newsweek International as one of the 10 most dynamic cities of the world for the year 2006. With Delhi getting congested and as the population rises, Ghaziabad has become an ideal option for people to invest in real estate. The real estate market of Ghaziabad has attracted the attention of real investors as they are getting high returns on their investments.
Residential Real Estate: One of the fastest growing cities in Northern India, Ghaziabad has some very posh areas that have highly priced real estate properties and land. These areas include Kavi nagar, Raj Nagar, Nehru Nagar, and Vijay Nagar. There are a number of huge mansions in these areas.
Indirapuram in Ghaziabad has become one of the most demanded areas as far as residential property is concerned. Major real estate developers are building apartment, condominiums and pent houses to cater to buyers in all stratas. The area has high property prices because of increase in the number of shopping malls, multiplexes and entertainment parks.
Industrial Real Estate: The town is witnessing fast growth in industries. The major industries are automobiles spare parts and components, Consumer durable spare parts and components, glassware, pottery, vegetable oil, paint and varnish, heavy chains, steel, pharmaceuticals, liquor etc. It is also a significant contributor to the development in the state of Uttar Pradesh. There are a number of small, medium and large scale industries in the town.
Commercial Real Estate: The last few years have witnessed a sharp increase in the number of shopping malls, theaters, multiplex and other source of entertainment, that has further raised the demand and hence the prices of commercial properties.