ICCPL PROPERTY NEWS

RNE: THE PERFECT REALTY HUB

      Raj Nagar Extension, popularly known as RNE is regarded as one of Ghaziabad’s most sought after realty destinations. In the beginning of 21st century, the region was nothing more than a land parcel which was used to bypass the much congested Meerut road. But today, the region has been completely transformed and developed into a realty hub which is promising a strong infrastructure and strategic connectivity. Raj Nagar Extension today houses over 25 prominent developers of NCR and offers a blend of over 40 residential and commercial projects. The region is fit for end use as well as investment purposes as it is a one stop destination for a wide variety of middle class customers, offering housing opportunities from a 1 BHK to 4 BHK, ranging a minimum from Rs. 15 lakhs to Rs. 50 lakhs, provided with classy amenities such as entertainment zones, shopping complexes, massive green cover and much more.

“As a region, Ghaziabad has always been considered as the backbone of NCR’s realty. There are several micro pockets in Ghaziabad where RNE is regarded as one of the fastest emerging realty hubs. The pricing and infrastructure factors play the most vital role in pulling the customers towards this region. With connectivity and huge variety of products and sellers to choose from, this region has seen an immaculate demand and growth over the last few years”, elucidates Ashok Gupta, CMD, Ajnara India Ltd.

Booming Infra & Connectivity

History has been a witness to how much infra and connectivity score towards the ranking of a region. This is exactly where Raj Nagar Extension scores much above its counterparts and helps in balancing the demand and supply matrix. Speaking about the infrastructure in the region, the existence of NH 58 and NH 24 surrounding it, adds superbly to its credibility. The 8 Kms long bypass itself is a flawless ride that also allows commuters to beat the congestion on the busy Meerut road. Schools, colleges, universities, hospitals, police stations and other such civic amenities makes it a perfect habitat. For leisure and entertainment, the City Forest situated bang on the bypass road, upcoming international cricket stadium, Raj Nagar District Centre (RDC – commercial complex) and interestingly; tourist destinations such as Haridwar, Rishikesh, Dehradun, Mussoorie and others are easily accessible via NH 58; is the perfect icing on the cake. “Raj Nagar Extension is a complete region for any resident or an investor. The existing and planned infra setup is stunning and will allow residents and future buyers to invest here without hesitation. The promise of return or adaptability to the environment due to connectivity and strategic location doubles the effect. The under-construction elevated road, once operational, will reshape the skyline of the region and add more value to it”, explains Avneesh Sood, Director, Eros Group. The six-lane elevated road from Raj Nagar Extension to U.P. gate will be 9.3 Kms long and the work on the same is moving at a rapid pace. There is an upcoming metro station as well which is planned right at the entry of the region. The infrastructure in general is shaping up the region pretty well and is promising a hefty return for the future.

Connectivity of a region serves as the backbone for the future realty prospects and boosts the acceptance of the region. Raj Nagar Extension is a complete region from this aspect as well. Its connectivity to NH 58 and NH 24 is direct and allows great footfall in the region. The upcoming elevated road will allow Delhi to become a 10 minutes’ drive from RNE, while connecting Noida and other micro pockets of Ghaziabad on the way. There is an underpass as well that connects RNE to Mohan Nagar, Loni and Shahdra; and Siddharth Vihar and Indirapuram through recently developed bridge along Hindon River. “The realty growth of a region depends highly upon the connectivity with its neighbouring regions or surrounding infrastructure. Raj Nagar Extension is one such district in NCR that enjoys stunning connectivity due to NH 58, NH 24, several sector roads, underpasses; and the upcoming elevated road to U.P. gate will greatly add value. With such immaculate connectivity, the return on investment is sure to be great with appreciation bound to happen”, avers Ankit Aggarwal, CMD, Devika Group.

Competitive Pricing & Capital Appreciation

Pricing factor has come out to be a real teaser for buyers planning to buy a property at Raj Nagar Extension. Being a recent development of Ghaziabad, the entire chunk of land has been planned, and is developing at rabbit’s pace. Due to this, the prices at RNE are very competitive in comparison to other parts of NCR; and due to its developing infrastructure, the appreciation is bound to take place. Properties available in the region vary from apartments to villas, duplex to plots, and almost every variety is available. The pricing of units is as low as Rs. 15 lakhs for a nuclear family to reside in a 1 BHK unit; and is available there on a higher side of the cost for ultra-luxurious units as well. “Amongst various regions in NCR, Raj Nagar Extension scores well above when it comes to pricing of properties. A critical reason why footfall and conversion is higher in Raj Nagar Extension is due to the prices. Even during the phase of slowdown in Indian realty market, this region observed a very slight dip in prices, and has now overcome the situation due to its rapid paced development. Average pricing in the region is between Rs. 2500 – Rs. 3,000 per sq. ft., which is quite economical, considering the rate of growth in the region”, enlightens Deepak Kapoor, President CREDAI – Western U.P. & Director, Gulshan Homz.

Lower pricing plays an integral role in gaining footfall and sales, but this can get limited if appreciation does not take place. RNE as a region enjoys hefty capital appreciation each year, riding on continuous infra upgradation and superb connectivity. Due to high volume of residencies in the region, end users are far more in number than investors. But at the same time, commercial setup is gaining momentum that will pave way for investors as well. “The region due to its ever-growing infrastructure, strategic location and closeness to two major National Highways allows it to witness a strong capital appreciation. Real estate sector went through a series of price corrections recently, but Raj Nagar Extension was least affected. The demand for housing is picking up pace with several projects offering possession as well. As more and more commercial setups come up, the demand will keep on rising with appreciation moving parallel”, states Vikas Pundir, Director, SKB Group.

Commenting on the overall realty prospects and future growth of Raj Nagar Extension, Kushagr Ansal, Director of Ansal Housing concludes, “Raj Nagar Extension is a complete real estate region with a perfect blend of residential and commercial complexes. The region is complete with civic amenities for the public along with supporting entertainment facilities. Its locational advantage and connectivity with neighbouring regions makes it a complete package for end use as well as investment. Promise of returns with reasonable pricing makes it a great deal for any income segment or demographics. With so much in pipeline for the infrastructure of the region, future prospects look bright and will make this region a highlight of NCR realty.”

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