The city of Ghaziabad is often considered to be the gateway to the biggest state in the country- Uttar Pradesh the city however is more influenced by Delhi and the other cities in the NCR region. It lies adjacent to the national capital and has emerged as one of the foremost industrial cities in the northern parts of the country. As a result, it bears considerable importance in the National Capital Region. The city however has mostly been considered to be good for establishing industries; however of late it has also emerged as a hub of property destination. Over the years, the city has gained attention from property seekers as well as investors and in the year 2015, flat in Ghaziabad has emerged as one of the most sought after residential properties in the NCR. It is interesting to observe that the city earlier did present the potential but it was only in tough times that it started exhibiting that potential.
How has Ghaziabad emerged as a major hub of property?
As mentioned earlier, the city of Ghaziabad has traditionally been an industrial city. It comprises of large, medium sized and small industrial units that arte into manufacturing a huge variety of goods. However over the years, the city has mostly been ignored as a property destination for a number of reasons. First of all, the Noida and Gurgaon comprise of corporate offices and white collared employment. The infrastructure of both the cities can be considered to be superior in comparison with the infrastructure of industrial cities. The infrastructure here is the one that creates a good quality of life in the city. Perhaps because Ghaziabad is an industrial town is why a lot of builders and investors did not find it to be the first choice of property development. However the latent demand for property in the city was quite high.
The property demand in Ghaziabad started emerging in the past half a decade. The city did witness some development but the focus shifted to when the recession hit the nation. Sales of property dipped in the prime territories and the builders started looking for options where they could profitably develop properties. This was the time the city Ghaziabad presented itself as a formidable option. There was a lot of demand for housing and new property in the city- even though it was at lower ticket costs. This was when the local builders also started to take notice. Soon enough, the city started to offer flats for sale in Ghaziabad in a number of areas and in a number of categories.
How did the property market grow during recession?
The property market of Ghaziabad grew by leaps and bounds during the economic slowdown. The reason is simple. The industrial growth had slowed down in the city and therefore the builders as well as stake holders were also looking for new and better options for investment in the city. When the property market presented itself as an opportunity, not only the builders from elsewhere but also from the city grabbed the opportunity to create new investment options. Soon enough, real estate emerged as a major industry in the city.
In Conclusion
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