Facts You Need To Know About Raj Nagar Extension Property Market
Raj Nagar Extension is one of the most sought-after real estate markets in Ghaziabad owing to its affordable pricing with decent connectivity with the national capital. It is also an important commercial hub for areas including Ghaziabad, Sahibabad and Noida. Here are eight interesting facts about Raj Nagar Extension that every investor needs to know before investing in the market:
*Raj Nagar Extension is one of the most affordable property markets in the National Capital Region (NCR) . It is comparably cheaper than Noida Extension, Indirapuram, Ballabhgarh and the extended areas of Dwarka. Currently, the prices here range between Rs 2,500-3,000 per sqft. The property prices in Raj Nagar Extension have remained stagnant for long due to the inactive state of development in the past. However, now experts believe that better connectivity would bring lost sheen back.
*The area will from June 2018 will have a Metro connectivity from the New Bus Stand, seven kms from Raj Nagar Extension, to Rohini via Dilshad Garden. Commuters plying to Gurgaon will be able to interchange at Kashmere Gate. Apart from this, Hindon Elevated Road will be soon operational, too. This stretch will connect Raj Nagar Extension to UP Gate near Vaishali. This will enable commuters plying on the National Highway-24, coming from Noida to take the elevated road that ends at Raj Nagar Extension. The route will be open for public by the end of January 2018.
*There are over 90 projects in Raj Nagar Extension with over 16,000 families already staying in the region. Over 40 projects are ready to move while 43 projects are under construction. A 1BHK flat in Raj Nagar Extension is available for a starting price of Rs 16 lakh while a 2BHK is available for Rs 30 lakh onwards. For a 3BHK apartment, a buyer needs to shell out at least Rs 43 lakh. A 4BHK flat is offered at starting value for Rs 63 lakh.
*2018 would be a year of possession for many projects in Raj Nagar Extension. According to an estimate, almost 11,00,000 sqft will be ready for possession by March 2018. This would further boost the investment prospects in the area.
*So far, the livability score of Raj Nagar Extension has been low, keeping homebuyers at bay in investing here. However, the new connectivity would bring retail and commercial development in the area, enhancing the quality of life. Currently, residents have to rely on retail hubs in and around Ghaziabad for shopping and leisure needs. There are four commercial setups in the area for fulfilling daily necessities of the residents.
*The area has a unique placement. It lies close to a four-km-long green belt stretching from Raj Nagar Extension to Vivekanand Nagar. According to the Ghaziabad Development Authority (GDA) , this green belt would be landscaped for local residents. The plan also includes the building of non-concretised pathways and jogging track for residents.
*Board of Cricket Control of India has acquired 33 acre of land to build an international stadium in the area with a sitting capacity of 45,000. There will be a sports academy with a parking space for 2,000 cars. The land has already been handed over to the Uttar Pradesh Cricket Association for development. The project is expected to be finished by 2019.
*The GDA will employ private contractors to remove the heaps of garbage lying on the roads in Raj Nagar Extension. The plan is to outsource trash collection for better efficiency.