Infrastructure Boost Propels Ghaziabad Property Market Surge: SquareYards.com

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Gurgaon, 1st July: 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)
Location No. of Transactions Sale Value in Cr.
1 Indirapuram 1,150 701
2 Raj Nagar Extension 601 255
3 Shahpur Bamheta 537 164
4 Pratap Vihar 475 175
5 Vaishali 410 212
6 Morta 362 93
7 Sadullahabad 360 60
8 Shalimar Garden 354 93
9 Nai Basti Dundahera 349 143
10 Wave City 318 130
Top Locations by Sale Value – Ghaziabad (Jan-Mar’24)
Location Sale Value in Cr. No. of Transactions
1 Indirapuram 701 1,150
2 Raj Nagar Extension 255 601
3 Vaishali 212 410
4 Pratap Vihar 175 475
5 Shahpur Bamheta 164 537
6 Pandav Nagar 153 280
7 Nai Basti Dundahera 143 349
8 Vasundhara 130 252
9 Wave City 130 318
10 Rajendra Nagar 108 251