Uttar Pradesh Real Estate: Ambitious Plans Not to be left out by the change of scenery being wrought in the National Capital Region (NCR), the UP government has ambitious plans for developing the industrial city of Ghaziabad into an attractive city to rival its counterparts. And, the UP city has received a tremendous response from a large section of NRIs, including other investors worldwide, after it became known it will be a walled city with an 8-lane highway, a college, a separate police district, a hi-tech 1000-bed hospital, an 18-hole golf course, a gym, several parks, petrol pumps and metro rail. All in the planning state, yet interested investors and end-users are stampeding to book plots and not miss out on real estate opportunities they missed out when Gurgaon, Noida, et al were in the initial stages of development. The right time to take advantage of a not to be missed real estate opportunity, an investor can double and triple his hard earned cash reserve many times over, simply by investing in Ghaziabad real estate. Approval of the scheme and plans to change the look of the industrial city by Ghaziabad Development Authority has led prominent builders, such as Uppal Chadda and Sun City to come forward with attractive, easy to pay instalment schemes for investing in their residential houses, flats and commercial property complexes. A tremendous opportunity for investors, the pre-launch of these projects took place in Sept. 2005, which led to a large number of domestic and NRI investors investing in plots of 250-sq. yes. to 1000-sq. yds., with a starting price of Rs. 7500/- per sq. yds., revised to Rs. 8,500 per sq. yes. end-November 2005. Investors who paid a booking amount of 30% of the total cost price, found the re-sale value of Ghaziabad real estate to have appreciated by Rs. 700 to Rs. 800-per sq. yds. A small 250-sq. yd. plot, with a booking price for Rs. 5.63-lakhs has appreciated, by as much as Rs. 2.-lakhs. With the project likely to be launched in June 2006, between December 2005 and June 2006, it is estimated the land will further appreciate, with plots going for Rs. 12,000-per sq. yd. And, long term investors are bound to see property prices touch Rs. 30,000-per sq. yds. by the end of 3-years. With plot possession scheduled to take place early 2008, whether one is an end-user or an investor, in the long-term Ghaziabad is great real estate investment, with land costs rising eves as one writes. Across the length and breadth of India, real estate costs are rocketing higher and higher, as foreign firms and returning NRIs fuel the demand for business and residential space. Whether, you buy in North, South, East or West India, your little piece of land holding is going to double, treble and much more, over the years. The hottest market in the world, Indian real estate market is riding on the waves of India's robust economy, that ensures a rapidly growing middle class with higher salaries, easy bank loans = dreams of a small home of their own. Our advice to end-user and investor alike would be go for it! |
