July 17, 2024

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Infrastructure Upgrades Fuel Ghaziabad’s Property Market Surge: Squareyards.Com Report.

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Gurgaon, 1st of July, 2024 : Ghaziabad, a vital part of the Delhi NCR, is making significant strides in the residential real estate market. Known for its relatively affordable properties compared to areas like Gurgaon and Noida, the city is experiencing increased activity driven by major infrastructural developments.

According to SquareYards.com, Ghaziabad witnessed nearly 11,000 property transactions in the first quarter of 2024. The majority of these transactions occurred in the less than INR 50 lakh price range, comprising more than three-quarters of the total transaction volume. Key localities along NH-9 (old NH-24), such as Indirapuram, Shahpur Bamheta, Pratap Vihar, Vaishali, and Raj Nagar Extension along Meerut Road, saw the bulk of these transactions. In terms of gross transaction value, Indirapuram led with properties totaling INR 701 crore sold during this period.

“Ghaziabad, a crucial part of the Delhi NCR, benefits from its close proximity and excellent connectivity to Delhi and Noida’s commercial hubs. It is well-equipped with physical and social infrastructure such as healthcare and educational institutions, adding to the livability of the city. This, combined with its relatively affordable property options, gives the city a unique edge. Moreover, the ongoing development of the Delhi-Meerut-Ghaziabad RRTS corridor and the extension of the RRTS- cum-metro corridor to Jewar airport are poised to be game changers for Ghaziabad’s property market.” said Vikas Tomar, Executive President, SquareYards.com

Tomar added, “For homebuyers on the lookout for affordable properties, Ghaziabad has become the go-to destination. It’s also proving to be a lucrative choice for mid-segment buyers, offering a wide range of appealing options.”

As Ghaziabad continues to develop and benefit from significant infrastructural projects and growing homebuyer demand, its residential real estate landscape is set to transform, offering promising opportunities for both local and national developers, and establishing the city as a key player in the Delhi NCR property market.

Top Locations by No.of Transaction-Ghaziabad (Jan-Mar’24)
 LocationNo.of TransactionsSaleValueinCr.
1Indirapuram1,150701
2RajNagar Extension601255
3ShahpurBamheta537164
4PratapVihar475175
5Vaishali410212
6Morta36293
7Sadullahabad36060
8ShalimarGarden35493
9NaiBastiDundahera349143
10WaveCity318130

Source:SquareYards.com

Top Locations by SaleValue-Ghaziabad (Jan-Mar’24)
 LocationSale Valuein Cr.No.of Transactions
1Indirapuram7011,150
2Raj Nagar Extension255601
3Vaishali212410
4PratapVihar175475
5Shahpur Bamheta164537
6PandavNagar153280
7NaiBastiDundahera143349
8Vasundhara130252
9WaveCity130318
10RajendraNagar108251

About Square Yards

Square Yards is India’s largest Integrated real estate marketplace, with category leadership presence across multiple touch points of consumer home ownership journey. With Urbanisation and rising disposable incomes as the core theme, Square Yards, with 7mn+ monthly traffic and ~USD 3bn+ GTV, is the largest and asset light proxy play to the growing residential demand story of India. One of the few Indian start-ups to taste global success with presence in 100+ cities across 9 countries, Square Yards is at the forefront of tech adoption in the sector, with multiple patents across VR/AI domains.

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