Raj Nagar Extension Demand-Supply Analysis

Demand-Supply
Assessment of
Raj Nagar Extension
June 2010

INTRODUCTION
I. The Study
II. Executive Summary
CHAPTER1: GhaziabadOverviewGhaziabadMasterplan2021
CHAPTER2: RajNagarExtensionOverview
CHAPTER3: ProjectProﬁleRajNagarExtensionMap
CHAPTER4: DemographicProﬁle
4.1 Ghaziabad
4.2 Noida
CHAPTER5: Supply-DemandAnalysis
CHAPTER6: MarketResearch
6.1 Locality Survey Analysis
6.2 Consumer Survey Analysis
6.3 Property Fair Data Analysis
CHAPTER7: ValueAnalysis
CHAPTER8: Infrastructure,TransportLinksConnectivity
8.1 Ghaziabad
8.2 Raj Nagar Extension
CHAPTER9: FutureOutlook
ANNEXURES
Annexure 1: Ghaziabad Report (Vol 1 Issue 1, Vol 1 Issue 2, Vol 1 Issue 3, Vol 1 Issue 4,
Vol 2 Issue 1)
Annexure 2: News Articles
Annexure 3: Market Survey
TABLE OF CONTENTS

■ Objective
One of the leading developers - SG Estates has undertaken three projects -
Impressions 58 Phase 2 - Ivory Tower, Impressions 58 and Impressions Plus in
Raj Nagar Extension. They have now proposed a new project in the area. For
the same they wanted to conduct a demand-supply analysis study.
■Termofthestudy
The study was to be conducted over a period of one week from June 03 to
June 10, 2010.
■ Methodology
Brix Research team conducted the study across Delhi NCR.
Tools of the study included:
- Offline and online survey
- Primary market research
- Secondary market research
- Primary and secondary data analysis
- MagicBricks site data analysis
- Compilation of media research
- Financial data modeling
- Interpretation on basis of structured data
- Graphical and tabular representation of the data
■ ScopeoftheStudy
- Area Profile
- Buyer Profile
- Demand-Supply Assessment
- Future Outlook
The Study

Introduction
SG Estates, a leading developer building in Raj Nagar Extension, has
commissioned Brix Research to conduct a study on demand-supply assessment
in Raj Nagar Extension to analyse the feasibility of its proposed project.
RajNagarExtension
Raj Nagar Extension is a pioneering effort of a group of (15) Delhi NCR’s
renowned developers, who have joined hands to create affordable homes.
AbouttheStudy
Brix Research conducted the study across Delhi and NCR. Online and offline
surveys were conducted for the analysis. Primary, secondary and media
research was carried out to assess the profile of the area and buyers, availability
and demand scenario and future prospects. Extensive data-mining and analysis
was done to prepare the study report. The analysed data was supported by
graphical and tabular representations for better understanding.
Conclusion
Raj Nagar Extension is fast developing into a real estate destination. It’s one-of-
a-kind residential project and that uniqueness sets it apart from other projects
in the market. The survey conducted (online and offline) revealed that people
are quite familiar with the brand Raj Nagar Extension but many of them haven’t
really visited the area. However, majority feel that it offers a good residential
abode and are therefore willing to invest in the place.
The Raj Nagar Extension Developers Association believes that with the
construction work progressing smoothly and many project possession
expected by end of year 2010 the buyer interest is high. The infrastructure of
the area is also developing at a good pace. The Ghaziabad Development
Authority’s infrastructure and transport initiatives are further helping boost the
prospects of the locality.
Executive Summary

I
n the last twenty years Ghaziabad
has expanded more than any
other city in the National Capital
Region (NCR) and earned the title
of the fastest growing district in the
country, mainly on account of its
rapid industrialisation and its
proximity to Delhi. A large number of
people stay here but carry on their
trade or are employed in Delhi. Before
the formation of Ghaziabad district on
14th November 1976, it had the
status of a tehsil in district Meerut,
but after it became a district, it
developed very fast and its
population too increased in that
proportion.
It was featured in the international
magazine Newsweek and was listed in
the top 10 most dynamic cities of the
world during the year 2006. The city
has well-planned roads, malls, flyovers
and metro connectivity.
Major growth driver of Ghaziabad are
small, medium and large scale
industries. However, the city has now
grown out of the traditional image
and has emerged as the new real
estate destination. The growing
information technology, retail,
financial and service sectors are the
new drivers of growth. Proximity to
Delhi and metro rail reaching Dilshad
Garden are the other factors working
in favour of Ghaziabad. The metro
line’s extension to Anand Vihar has
further boosted the real estate
prospects of the city.
Ghaziabad’s growth story began in
the mid-1990s, when the Ghaziabad
Development Authority tied up with a
private developer, Shipra Estates, to
create Shipra Suncity. It offered
housing at affordable rates to the
middle class in the Delhi NCR. The
proximity to central commercial
business districts of Connaught Place
and ITO helped increase occupancy
and hence demand. This also gave a
fillip to the previously struggling land
banks of Vaishali and Kaushambi and
demand rose across Ghaziabad.
The success of private development
in Indiarapuram and the rapid growth
in retail infrastructure in the shape of
32 malls in the city added to its
attraction. Finally, with real estate
emerging as the major driver, the city
administration also came up with a
large number of favourable policies
that further enhanced the quality of
development in the city.
The residential sector of the city is
abuzz with developments. With a
number of renowned developers
making a beeline for the city, the
options are many – for end-users and
for investors.
Besides, the commercial sector is also
catching up fast. There are a number
of malls dotting the city. The Pacific
and Shipra malls are amongst the
largest in the NCR. Being a cost-
effective option, there is a good
demand for office and retail space.
However, infrastructure is a roadblock
in the growth of the commercial
sector. The neighbouring
counterparts – Noida and Gurgaon
are proving a tough competition with
availability of better infrastructure
facilities.
AboutUs
Brix Research, the Research
Analysis wing of MagicBricks.com,
the Number 1 property portal
promoted by the Times of India
group, constantly monitors the
country’s real estate market.
Brix Research conducts focused
online surveys to track real estate
market trends. It releases Regional
Value Analysis Reports, city-wise
reports and collects residential,
commercial and transactions data
across a number of cities and
provides insights for the Realty
Sector and Govt Agencies.
Brix Research Analytics models data
on financial parameters, based on
the logical analysis of facts, along
with relevant market intelligence to
generate user-friendly insights
solutions.
Gathering inputs and responses
from professionals, brokers and
developers, Brix Research Reports
Surveys are used as benchmarks -
extensively covered by the media.
Brix Research tracks actual real
estate transactions across 15 cities
to determine realty movements,
price indications, locality
preferences and lifestyle features.
This data, along with financial data
from banks and trends tracked by
the Reserve Bank of India, formed
the backbone of Residex – the
residential real estate index
compiled by the National Housing
Bank (NHB).
Brix Research has evolved in-depth
content, insights, data and analyses
for the realty sector that is included
in its articles, stories, blogs and city
reports. Brix Research also generates
customised content for the media
including The Times of India, The
Economic Times Times Property.
Ghaziabad Overview

Nevertheless, values in Ghaziabad's real
estate market have been growing
during the Jan-Mar 2010 period. With
the extension of the metro line and
proximity to facilities for the
approaching Commonwealth Games,
property values in Ghaziabad are
expected to rise further.
11thFiveYearPlan
As per housing shortage and demand
survey carried out by the Uttar Pradesh
Housing and Development Board
through reputed consultants M/s Rites
Ltd and M/s ORG Pvt Ltd in the year
2004, for the next 15 years for 50 towns
in the Central Zone and the National
Capital Region of the state, the total
housing demand in 25 towns of Central
Zone and 25 towns of the NCR Zone
has been estimated at 6.46 lakh and
12.09 lakh units, respectively. On an
average, the housing demand for EWS
and LIG categories in both the zones
would be 24 and 34 per cent
respectively. This means that while
devising the future housing strategy,
more than 50 per cent units will have
to be provided for these categories
alone.
All these statistics bode well for the
future of the Raj Nagar Extension
where over 4,500 constructed units will
be ready for occupancy by end of 2010.
(Sources:HousingandUrbanPlanning
Department-CommentsontheApproachPaperto
11thFiveYearPlan-http://awas.up.nic.in/,VAR
Vol-1,Isssue-1andhttp://ghaziabad.nic.in/
Default.htm
AboutUs
The internet has empowered and
paced up our lives almost on every
front. The emerging virtual world of
the real estate sector is an
outstanding example of the
paradigm shift the internet is
bringing. People prefer to search for
information on product online
before they actually buy it and this
applies to property search as well.
Online property search is catching
up fast, be it a residential or a
commercial plot, building, flat or
office space.
Keeping with the trend, Times
Business Solutions launched
MagicBricks.com in August '06, as a
platform to bring together buyers
and sellers in the real estate
industry. Within three months of its
launch, MagicBricks.com achieved
the status of being the No.1 property
portal in India. With its
revolutionary next-gen services
customized specifically to address
the real estate industry it has
consolidated its position as the
leader in the sector.
MagicBricks.com provides a
common platform for all users, and
provides a space for property buyers
sellers to locate properties of
interest and source information
about all property related issues in a
transparent and unambiguous
process.
MagicBricks.com offers a pan –
India coverage of over 800,000
listings, showcasing the Indian real-
estate market. MagicBricks.com
currently records over 10 million
page-views per month.
MagicBricks.com comes packed
with a host of tools, never witnessed
before by the Real-Estate Industry

Raj Nagar Extension
Overview
R
aj Nagar Extension is a new
developing area of
Ghaziabad formed by 15
developers. It is situated
near prime residential localities like
Raj Nagar and Kavi Nagar, and
developing localities like Vaishali and
Vasundhara. It also has good
connectivity to East Delhi, Noida and
Greater Noida. It is further connected
through a six-lane expressway with
the GT Road and to NH-58.
Raj Nagar Extension comprises
Ashiana Homes, SVP, SG Estates, Land
Craft Developers Pvt Ltd, KDP
Infrastructure Pvt Ltd, Shreya
Developwell Pvt Ltd, Shree Energy
Developers Pvt Ltd, Ajnara Farms
Services, Ascent Buildtech, Nitishree
Infrastructure Limited, High End
Infratech, Krishna Asset
Reconstruction, MCC Builders,
Quantam Buildwell Pvt Ltd and
Shomit Finance Limited. It has
become a new real estate destination
for middle-class end-users and
investors from Meerut and other cities
in Uttar Pradesh, as well as buyers
from the Delhi NCR.
With the launch of premium and
affordable residential projects, a wide
variety of options are available. The
current price range is between Rs
1,600 and Rs 1,800 per sq ft with all
modern amenities. Commercial
markets will take another 2-3 years to
establish base at Raj Nagar Extension.
According to Ravinder Singh, a local
realtor,“We have very high hopes for
Raj Nagar Extension. Values here are
low compared to Indirapuram,
Vaishali and other areas in the
neighbourhood. During the
economic slowdown, transactions
never really stopped because of
affordable projects that have been
launched.”
Land Craft has completed an
affordable group housing project,
River Heights. It offered 32 units of 1
BHK (680 sq ft) at Rs 10.63 lakh and 2
BHK (965 sq ft) at Rs 15 lakh. All the
units have been sold out and another
tower consisting of 1 BHK (705 sq ft)
at Rs 11.62 lakh is coming up. Out of
the total 30 units, 50 per cent have
been sold-out and would be ready
this year. Ashiana Le Residency is a
joint venture between Ashiana
Homes and Land Craft. A 2 BHK
apartment of approximately 1,090 sq
ft costs Rs 19.90 lakh and a 3 BHK
apartment of approximately 1,620 sq
ft costs Rs 30 lakh, and these will be
ready by 2011. Ashiana Homes has
launched Palm Court at Raj Nagar
Extension. The project offers 3 BHK
apartments of approximately 1,275 sq
ft costing upwards of Rs 26 lakh. The
project may be ready by 2011.
Raj Nagar Extension is a one-stop
destination for a wide band of
middle-class end-users, offering
choices ranging from a 1 BHK for Rs
12 lakh to a 3 BHK for 40 lakh, and
throwing in amenities like
entertainment zones, shopping
arcades and jogging tracks. It falls
under the Ghaziabad district, which is
CHAPTER
2

strategically located, in terms of two
National Highways - NH-91 (GT Road)
and NH-58 (Meerut Road, which goes
towards Dehradun) - passing through
it. Invariably, the traffic density on
these roads is very high which forced
planners to build a mini, six-lane
expressway, which will link NH-91 to
NH-58, bye-passing the high traffic
density area of Ghaziabad.
The Raj Nagar Extension is situated on
this new Meerut bye-pass. The entire
area is yet to be developed. This has
given the authority and developers a
chance to carry on a planned
development in the area.
Coupled with the new Master Plan,
which envisages a new residential
zone, Ghaziabad Development
Authority (GDA) opened a new vista
to private developers for
conceptualisation and creation of
well-planned, group housing
complexes and townships for the
quality conscious.
The USP of this area is an adjoining,
perennially green and unpolluted
belt, which will remain undisturbed
owing to the fact that Ghaziabad
Development Authority has declared
500 acres along the Hindon river as a
green belt and banned all
construction activity in the area.
This area is in the vicinity of premium
localities of Ghaziabad like Raj Nagar
and Kavi Nagar, located centrally, yet
buffered from the hustle and bustle of
the busy township of Ghaziabad.
Therefore, the location offers an ideal
and serene setting for a pollution-free
living in a well-planned locale with
excellent connectivity to areas like
Delhi, through a proposed Metro link,
and Noida and Greater Noida, by way
of the proposed expressways.
Further, the proposed flyover and
road from Hindon Airbase will offer
express connectivity to Delhi via
Wazirabad. As per the latest policy
development, the proposed Delhi-
Haridwar highway will also pass
through Raj Nagar Extension, further
enhancing connectivity of the area.
In addition, GDA also has plans to
create a land bank in excess of 2,000
acres for an upcoming IT hub
encompassing the proposed 1,284
acre SEZ and an Institutional Area on
141 acres. To ensure a holistic
development of the area, plans are
afoot to develop a sports complex of
international standards on about 434
acres and a golf course conforming to
international standards on 245 acres.
To expedite the plan process, the
developers association is playing a
crucial role in convincing the
government to invest in developing
civic amenities in the area. The
association comprises well-
established developers like Ashiana
Homes, SVP, SG Estates, Landcraft
Developers Pvt Ltd, KDP Infrastructure
Pvt Ltd, Shreya Developwell Pvt Ltd,
Shree Energy Developers Pvt Ltd,
Ajnara Farms Services, Ascent
Buildtech, Nitishree Infrastructure Ltd
and also includes upcoming
developers like High End Infratech,
Krishna Asset Reconstruction, MCC
Builders, Quantam Buildwell Pvt Ltd
and Shomit Finance Limited.
According to Raj Nagar Extension
(NH-58) Builder Association’s
spokesperson Manu Garg, “The
initiative will help achieve modern
amenities and luxurious living at

affordable prices.”The association was
born with an aim to bring the
infrastructure, facilities and amenities
in the area in a coordinated manner in
the shortest possible time.“To
develop the area fast,”says Garg,“a
need was felt to liaison with various
government authorities in a more
collective manner.”
Why Raj Nagar Extension? The
Developers’Association lists 15
reasons:
1.FirstaffordablecityofNCR
Our aspiration is that everyone has an
individual shelter. We make this
possible by providing you with
affordable strategically located
homes within Delhi NCR at an
amazing low cost. Well-connected
well-planned city Raj Nagar Extn. now
offers affordable homes ranging
between Rs.10 lac and 25 lac.
Moreover, we facilitate cutting down
any burden on your pocket by our
unique affordability plans. Bravo! Now
you have all the reasons to unfurl your
longings and bring home what you
always desired.
2.Easyconnectivityfromallover
Wouldn't life be nicer if distances
could shorten… Raj Nagar Extn.
location strategically aims at bringing
closeness in distances in the
humdrum of everyday life. Raj Nagar
Extn., one of Delhi NCR's most well
planned city has high connectivity
with Delhi as well as Noida (15 min.
drive), Greater Noida (35 min.),
Vasundhara (10 min.), Indirapuram (10
min.), Vaishali (10 min.), Meerut and
Hapur (40 min.). The construction of
six-lane expressway connecting G.T.
Road with NH-58 has already
commenced which will eventually go
straight to Dehradun via Meerut.
Metro too, has also reached the
doorsteps of Raj Nagar Extn.
3.Wellplannedcity
When every thing in life should be
planned, then why shouldn't the
place where you live? Raj Nagar Extn.
is one of the most well planned city in
Delhi NCR. It has a sophisticated
lifestyle you always cherished. It has
dust-free nature-friendly
environment where happiness is
sprinkled in the air with joy serenity.
The 24 hours water supply, fire
fighting-system, ample car parking
space, round-the-clock-security,
earthquake resistant structure, wide
roads, makes it a well planned city…
at an incredibly affordable budget!
4.LargestGreenBeltofNCR
As we know there is too much of
pollution due to less greenery in
metro cities and people are suffering
from so many health problems. So Raj
Nagar Extn. is one of the planned
cities where the apartments are
nestled in 80 % greens, all homes
offer beautiful view of the landscaped
gardens, parks the largest green
belt of NCR and give the message to
have a clean and green environment
to live healthy and save our
environment.
5.Round-the-clocksecurity
Raj Nagar Extn. Is one of the planned
cities and has given utmost priority to
round the clock security because
living in a safe and fearless
environment is primary concern of all
individuals. It will help protect your
home and family with state-of-the-art
equipment and round-the-clock
monitoring.

6.Entertainmentzone
Raj Nagar Extn. is complete with all
recreational and leisure amenities,
such as amusement park, health spas,
fitness centers, kids play zone, sports
zone, in-club house facilities like
swimming pool, basket ball,
badminton, tennis, volley ball courts
etc, It is also providing shopping
complexes with multiplex.
7.Shoppers’Paradise
Raj Nagar Extn. is also providing you
the centralized shopping facilities
with some of the finest brands,
Collection of independent retail
stores, services, and parking areas
constructed and maintained by a
management firm as a unit for an
ultimate shopping experience.
8.24x7WaterandPowersupply
Raj Nagar Extn. is also implementing
on 24x7 water and power supply and
made it possible to have round the
clock this facility without any hassle.
9.Surroundings
Raj Nagar Extn. is also implementing
24x7 water and power supply.
10.MedicalFacilities
Raj Nagar Extn. shows its utmost
concern for its residents by providing
the best medical facilities to save time
by having the world class reputed
hospitals within reach. (Approx. 10-15
min. drive)
11.PartyHalls
Raj Nagar Extn. is offering space for
Parties, Events and Business Meetings
at a very affordable price in luxurious
atmosphere
12.JoggingTracks
If you need a change, want to look
feel good and healthy - start running!
For this the planned city is providing
Jogging Tracks and Fitness trails.
13.EducationalInstitutes
There are number of Management,
Engineering, and Dental Colleges in
its close vicinity. For basic education,
the city has schools affiliated to
various education boards like ICSE,
ISC, CBSE, and Uttar Pradesh State
Board.
14.GDAApproved
Raj Nagar Extn. is properly approved
by GDA, which facilitates easy
financing from banks.
15.EasyFinance
For this planned city all leading
nationalized and private banks are
providing home loan facilities on very
attractive interest rate.
http://rajnagarextn.com/default.html
http://content.magicbricks.com/raj-nagar
extension-%E2%80%93-the-new-area-of-
expansion

Raj Nagar Extension
Project Profile
R
aj Nagar Extension, located
on National Highway-58,
Ghaziabad is a unique
experiment where over 15
developers have come together to
market projects in an area that is
along a major transport corridor.
Unlike most other places, where
despite geographical clustering,
developers largely sell individual
projects, in Raj Nagar Extension, all
developers have jointly promoted the
locality, even naming it an extension
of the already established Raj Nagar
area of Ghaziabad.
This move was possible because most
projects in the area fitted into the
affordable housing category and
attracted end user-buyers from the
neighbouring regions who had
traditionally been kept out of the
market because of affordability issues.
Today the locality is extremely
popular with middle and lower
middle class buyers as well as first-
time young buyers who are looking at
purchasing a home to stay in. The
strategy of joint marketing has
worked well as buyers have several
options of two- and three-bedroom
apartments to choose from.
Approximately 10,000 housing units
are currently being constructed by
leading developers such as Ajnara
India Limited, Ashiana Homes Private
Limited, Nitishree Infrastructure
Limited, S.G Estate Limited, Shree
Energy Developers and many more.
While the projects target providing
'Affordable Homes' to end users,
developers are also backing it up with
housing units with best
amenities.Apartment sizes vary from
1 BHK (Bedroom/Hall/Kitchen) to 4
BHK and a few developers are also
constructing in the deluxe category
to accommodate premium segment
consumers.
TheProject
Raj Nagar Extension Project is unique
in itself and it's the first project across
Delhi NCR (National Capital Region)
where so many developers have
come together and have constructed
dwelling units in a similar category.
The project is strategically located
and takes approximately 15 minutes
driving time from Delhi and NOIDA to
reach. Since the area is new and yet to
be developed, a joint thrust is
allowing developers at Raj Nagar to
provide the best surroundings and
amenities to end users. The quality of
construction and ambience are also a
focus area for developers, apart from
low-cost housing.
AffordableHousing
If we look at the project profile, even
though the houses fall broadly in the
affordable category, every developer
is offering different types of
apartments in terms of area and
categories. (For details refer the Table
1). On the whole, apartment sizes vary
from 400 to 1700 sq ft (1 BHK-4 BHK)
in price ranges of Rs 1600- Rs 2000
per sq ft. These price ranges are
CHAPTER
3

much more affordable as compared
to average prices of projects coming
up in Noida, Greater Noida and
Indirapuram. Most of the developers
are offering 10 per cent discount on
inaugural prices. This makes Raj Nagar
Extension a destination for a wide
band of middle-class end-users,
offering choices ranging from a 1BHK
available for Rs 12 lakh to a 3BHK for
Rs 40 lakh, with facilities such as
entertainment zones, space for
parties, events and business
meetings, shopping arcades, and
jogging tracks.
EarlyPossession
The main attraction of Raj Nagar
Extension currently is that nine out of
15 developers active in the region are
offering possession in year 2010.
Approximately 4500 housing units
will be handed over to buyers in this
calendar year. After the global
economic turmoil that also impacted
the Indian markets, most buyers today
prefer apartments that are nearing
completion. Thus any pocket of
development with about 4500 ready-
built apartments is a focus area that is
expected to attract end-users. The
developers who are handing over
possession this year include:
Nitishree Infrastructure Limited
Quantum Buildwell Private
Limited
Shree Energy Developers
Ajnara India Limited
S.G Estate Limited
Ashiana Homes Private Limited
K.D.P Infrastructure Private
Limited
Land Craft Developers
SVP Group
These developers are almost ready
with their projects and these units will
be ready for possession within this
year. Most of these projects were
launched in Year 2008-09. Thus, the
fact that developments in this region
continued despite the intervening
economic slowdown has raised their
credibility among end-users. Also
since a large number of units will be
up for possession at the same time,
there is expected to be a rush of
occupancy, which is also expected to
lead to robust demand for rental
housing as well.
There are some natural locational
advantages to the Raj Nagar project,
an assured serene, green
development along a water-front
being one of them. The Ghaziabad
Development Authority (GDA) has
declared 500 acres of land along the
Hindon river as a green belt and
banned all construction activity in the
area. This ensures access to
unpolluted greens on one side.
TransportLinks
Also, since the project is along the
arterial National Highway 58, there
are no major connectivity issues. The
Delhi Metro's proposed station is
expected to be at touching distance.
In addition, it rides the well-
developed transport links that
Ghaziabad enjoys with the rest of the
NCR and the developers only have to
ensure last-mile connectivity. As a
joint forum they have been
campaigning for the same.

Demographic Profile
4.1 Ghaziabad
Location
Ghaziabad lies on the Grand Trunk
road, approximately a mile east of the
Hindon river, 19 km from east Delhi
and 46 km from south-west Meerut.
Other roads lead north-west to Loni
and Baghpat and east to Hapur and
Garhmukteshwar. Buses run at
frequent intervals from here to Delhi,
Meerut, Aligarh, Bulandshahar,
Moradabad, Lucknow and to various
other districts.
BasicStatistics
Ghaziabad is spread over an area of
1,148 km. The population of the city is
approximately 33 lakh. Out of the
total population, 54.8 per cent is
urban, with a density of 2887 persons
per sq km. The literacy rate is 69.7 per
cent.
GrowthRate
Growth of the Ghaziabad local area
population follows a sinusoidal graph,
except for 1981 where instead of
decreasing it went up to 112 per cent
and then followed the previous
sequence. The steep increase in
growth rate during the 1940s was due
to the influx of refugees during the
Partition, while that of 1970s was due
to increase of the city limits. Rajapur,
an out-growth of Ghaziabad
Municipal Board during the 1980s,
merged into the Ghaziabad Nagar
Palika Parishad area in 1994, when
Ghaziabad was upgraded to a
Municipal Corporation.
In 1991, the area of Ghaziabad Nagar
Palika Parishad had 40 wards, which
increased to 60 wards in 2001 and the
area of municipality also increased
from 64 sq km to 166 sq km. For the
2006 local body elections, 60 wards
were delimited into 80 wards with the
total municipal area of 166 sq km
remaining the same.
Sub-divisions
The district has been divided into four
sub-divisions for the purpose of
revenue and general administration:
Ghaziabad, Hapur, Modinagar and
Garhmukteshwar. The centrally
situated tehsil of Ghaziabad has three
parganas, ie Loni, Dasna and
Jalalabad. The Hapur tehsil lies in the
east of the district and has three
parganas - Hapur, Babugarh and
Dhaulana. The Modinagar tehsil,
which has only one pargana,
Jalalabad, is in the northern part. To
the north-east lies tehsil
Garhmukteshwar which comprises of
two parganas - Garh and Puth.
There are 8 blocks and 6 Municipal
Corporations.
Blocks include Bhojpur, Murad Nagar,
Razapur, Loni, Dhaulana, Hapur,
Simbhawali and Garhmukteshwar
Municipal Corporations include
Modinagar, Murad Nagar, Loni, Hapur,
Pilkhuwa and Garhmukteshwar.
Economy
Ghaziabad city is credited with giving
the highest revenue in the state of
Uttar Pradesh and second highest in
India. Next to Kanpur it is one of the
largest industrial cities of Uttar
CHAPTER
4

Pradesh. The city is also developing
linkages to international markets. The
industrial development of the city is
characterised by development of
medium and large-scale industries on
the outskirts of the city on both sides
of the river Hindon. Industrial areas
include the Sahibabad Industrial Area,
Rajinder Nagar Industrial Area, Anand
Industrial Estate in Trans Hindon Area
(THA), Meerut road Industrial Area,
New Kavi Nagar Industrial Area,
Bulandshahar Industrial Area and
South Side of Bulandshahar road
Industrial Area in the CIS Hindon area.
Presently, the industrial development
of the city has slowed down and it is
likely to reduce further. This trend has
been taken care of in the revised 2021
Urban Master Plan.
Future development is visualised in
the housing sector. A sound economic
base has been developed, which
needs to be maintained. The city is
also an important centre for trade and
commerce in the western UP sub-
region. Various products and
equipments are supplied to the
regional, national and international
markets.
The workforce participation rate and
percentage of workers in the
secondary sector are marginally
declining but the size of work force in
the city has maintained an increasing
trend. According to the 2001 census,
workforce participation rate is 27.6
per cent. In terms of occupational
structure, the Ghaziabad Nagar Nigam
area is dominated by tertiary services
sector (59% in 1991) in general and
specifically other services sector (30%
in 1991). Less than one third of
workers are engaged in the secondary
sector, of which 30 per cent workers
were engaged in the manufacturing
sector. The household industries
showed a decline in 1991, but
improved in 2001.
With rapid real estate development
and a large population travelling
outside the city to work as
professionals in the upcoming
services sectors of IT and other white
collar jobs, this ratio has since been
altered,. It is expected to keep rising
with the development of newer
affordable housing options that are
pulling many residents from East
Delhi, Noida and areas beyond
Ghaziabad in Uttar Pradesh.
MasterPlan-2021
The Ghaziabad Master Plan-2021, a
legal framework for the development
of Ghaziabad, estimates that 23.77
lakh population (22.781 lakh of
Ghaziabad, 0.491 lakh of Dasna and
0.50 lakh rural population) is expected
to reside in the city by 2021. The
annual growth rate for Master Plan
population from 2001 to 2021 is 4.5

per cent. The Urban Master Plan
further gives the Land-use Plan for
2021 with a balanced distribution of
various land uses expected to develop
for the estimated population.
The Master Plan 2021 has adopted a
gross city density of 160 pph?? for
Ghaziabad and 110 pph for Dasna by
the year 2021. The collective gross city
density (Ghaziabad, Dasna and rural
population) is 153 pph while the gross
residential density works is 320 pph.
The residential area has been further
categorised into three ranges of
residential density:
• High density – more than 425 pph,
• Medium density – 325 to 425 pph
and
• Low density – less than 325 pph
Land use proposed for 23.77 lakh population
N
oida is located in the state
of Uttar Pradesh at the
fringe of Delhi, the
national capital of India.
Located at the doorstep of Delhi,
Noida is only 14 km from Connaught
Place. The 550 m long, eight-lane
Noida Toll Bridge across the river
Yamuna, connecting Maharani Bagh
in Delhi to Noida, has further reduced
the distance, time and cost of
commuting to and from Delhi. Noida
has all the key advantages of Delhi
without having its disadvantages. The
development area encompasses
about 20,316 hectares of land,
consisting of 81 villages of district
Gautam Budh Nagar.
Noida is bounded by NH-24 bye-pass
in the North, beyond which the
Ghaziabad Development Area exists;
in the East by the River Hindon,
beyond which Greater Noida
Industrial Development Area exists; in
the West by the River Yamuna, beyond
which are the States of Delhi and
Haryana; and in the South is the
meeting point of the rivers Yamuna
and Hindon.
ResidentialProjects
Dream Housing Projects
About 35.66 per cent area of Noida is
being developed as a residential area.
About 4,49,456 sq m land has been
earmarked as residential area, and the
4.2 Noida

rest is meant for group housing
projects. For the working class,
engineers/employees of different
establishments, a project has been
introduced involving construction of
31,035 residential units in duplex, HIG,
MIG, LIG and EWS categories. For
sheltering those below the poverty
line, under the Shramik Kunj project,
4,952 one-room houses have been
constructed. Plans are also afoot for a
project to construct Senior Citizens'
residential complex.
CommercialProjects
With the creation of commercial
centres in each sector, as a part of its
planned and synchronous
development, a full-fledged
commercial complex has been
developed in Sector-18, where one
can get everything from ordinary
writing paper and stationery to
computer-print paper, clothing
material to fashionable garments,
simple tools and tackles to electrical
and electronic goods and appliances
etc.
This area is replete with well-known
brands such as UCB, Red Tape, Hot
Breads, Levis, Reebok, Adidas, Parx,
Raymond and many more. The large
spacious buildings such as Ansal
Plaza, Ocean Plaza, Sab Mall, Centre
Stage Mall, The Great India Place,
Supertech Mall, Vishal Chambers, etc.
house leading Indian corporate
multinational business houses. Apart
from reputed hotels like Nirulas,
Shipra Hotel, Savoy Radisson there
are also a host of restaurants like
McDonalds, Domino Pizza, Subway,
Pizza Hut, Bamboo Shoots, Haveli,
Purani Dilli, Kebab Factory, Ice-cube,
Ruby's Tuesday, Barista Coffee Shop
etc. serving a wide variety of haute
cuisine suiting everyone's culinary
taste.
Noida city center is being developed
on a 99 hectare plot. The city center
will have boundless facilities within
viz. big offices of trade and
commerce, cultural centers, service
industries, five star hotels,
international standard restaurants,
whole-sale outlets, multiplex, center
for socio-cultural activities,
government/semi-government
offices, public facilities, residential
blocks residence cum work-centers,
and premises for
informal/unorganised sectors. On
completion, the city center is
expected to give a new identity to
Noida in the socio-economic, cultural
trade and commercial area.
Institutional
Noida has given top priority to the
development of Educational
Institutions. Some leading schools,
such as Amity International School,
Apeejay School, Army Public School,
Delhi Public School, Khaitan School,
Cambridge School, Somerville School
etc. are providing school level
education facilities to not only the
children of Noida residents, but also
to residents of Delhi. A number of
higher Educational, Management and
Technical Institutions also abound in
Delhi. To name a few - NIIT, ITP, Infosys
Computer Education Centre, VV Giri
Labour Institute, JSS Engineering
College, Women's Polytechnic, Amity
Business School, Amity School of
Information Technology, Amity
Institute of Biotechnology. Leading
Management Institutions like IIM is
also making Noida one of its centres
of operation.

Many Public Sector Undertakings and
other organisations have also made
Noida their head office. The National
Thermal Power Corporation (NTPC),
Birla Research Institute, Indian British
Petroleum (IBP), Gas Authority of India
Limited (GAIL), Krishak Bharati
Cooperative Limited ( KRIBHCO),
Pragati Power Corporation Limited
(PPCL), National Fertilisers Limited
(NFL), Food Corporation of India (FCI),
Housing and Urban Development
Corporation (HUDCO), Indian Council
of Medical Research (ICMR), Bharat
Heavy Electricals Limited (BHEL),
Projects Development India Limited
(PDIL), Indian Oil Corporation (IOC),
Bharat Petroleum (BP), Footwear
Design and Development Institute
(FDDI).
AnIdealIndustrialArea
In 2009 Noida earmarked 7,10,000 sq
m land for different Industries. There
are 6,014 manufacturing units in the
city. With an investment of Rs12,710
crore, these industries provide
employment to over 94,736 people.
To help establish industries, many
industry-friendly simplified measures
have been introduced. As a result,
building plans conforming to bye-
laws need not wait for approval for
commencement of construction. The
requirement of seeking permission for
mortgaging fully paid industrial
plots, have been done away with. At
the time of transfer of industrial
property, the requirement of getting
clearance certificate from other
departments of the UP Government
has been removed.
The Noida Software Technology Park
(STP), ranks second in the country in
terms of export turnover. The Infotech
Park (ITP), on 100 acres of land with
state-of-the-art infrastructure, houses
about 152-200 units.
Noida Export Processing Zone (NEPZ)
is a 100 per cent export oriented unit
and the only land-locked export
processing zone in the country. It
houses electronics, textile,
engineering and computer software
industries.
Realising its potential, many reputed
industrial houses both, at home and
abroad have made Noida the pivot of
their operations. M/s Motwane
Laboratories, America (Known for
their reputed medicines) have been
allotted 300 acres of land out of which
100 acres will be utilised for
establishing a biotechnology
university. This will be the first
biotechnology university in Asia and
will give a new lease of life to the
biotechnology students of our
country.
Planning
Noida, after acquiring 385 acres of
land, has acquired and developed
over 5,888 hectares of land. During
the current year, three residential
sectors and two industrial sectors
have been developed. In the decade
ahead, 3,400 hectares of land will be
acquired and developed, out of which
430 hectares have been earmarked
for residential, 620 hectares for
commercial, 650 hectares of industrial
and 200 hectares for institutional
purposes. Another 300 hectares of
land have been earmarked for
development of recreational
purposes which will include
entertainment parks and centres for
musical cultural activities. Of this
125 hectares of land will be utilised
for creation of road transport facilities
including bus terminals.

ENTERTAINMENTLEISURE
AmusementPark
To light up Noida's skyline,
International Recreational Park Ltd
has been allotted a 140-acre plot in
Sector 38A to develop an amusement
park. This will comprise: Fantasy
World (covering approximately 47.03
acres), Bollywood Film Park (13.17
acres), Entertainment Village and
World (22.4 acres), Water World (13.58
acres) and parking (11.2 acres). The
remaining 21 acres will be dedicated
to commercial facilities to support
the park.
NoidaHabitatatCentre
Establishment of the Noida
Habitat/Convention Centre (NHC) has
been proposed to ensure societal,
cultural and intellectual development.
Its objective will be to awaken and
promote the environment to society's
intellectual activities. Keeping the
convenience of all the residents,
industrialists, businessmen and
traders of the city in mind, the NHC
will run several cultural programmes
and intellectual seminars. The Centre
will house a high-level library and
world-class auditorium, conference
and banquet hall as well as club
facilities, restaurant, fitness centre,
yoga and de-stress centre, amenities
for sports and leisure, service
apartments/rooms, utility store, food
court, mini-audio/movie theatre,
function hall, training
room/classroom, swimming pool,
exhibition hall, art gallery and
business centre. On its 15-acre site,
the NHC will promote all-round
progress in the area and become a
major attraction of the city.
Impetusforsportsgames
A stadium situated at Sector 21 is
being developed to hold
international-level sports and games.
In addition, along the Expressway, a
sports complex spread over 450 acres
in Sector 101 is being planned where
badminton, table-tennis, weight-
lifting and basketball tournaments
can be organised. Further, the
Yamuna water-body along the Okhla
Barrage has been identified for water
sports, especially rowing.
GolfCourseCulturalCenter
Noida also has a Golf course of
international standards. The authority
has also undertaken the construction
of Indira Gandhi Cultural Center,
which will serve as a centre for various
socio-cultural activities of this
integrated township.
Source:
http://www.noidaauthorityonline.
com/about-noida.html

Supply-Demand Analysis
Analysis of property listings posted on MagicBricks.com between March and
May 2010, revealed that supply of residential options for sale was maximum in
Raj Nagar Extension, Indirapuram and Vaishali, comprising 82 per cent of the
total supply in Ghaziabad. Raj Nagar Extension and NH-58 have posted listings
priced lower (Rs 18-20 lakh) than the average in the city (Rs 35-45 lakh) and the
average area of the available housing options lay within the range of
1000-1500 sq-ft.
For detailed information on the localities which posted maximum listings,
refer Fig 1.
CHAPTER
5
Magicbricks.comPropertyListings(Top10localities):Mar-May2010
Locality Property Covered Average %of
Type Area Sale Total
(Approx Price Supply
Sqft) Rs/Lakh
RajNagarExtension 1200 19 39
Multistorey Apartment 1200 19 39
Indirapuram 1400 47 34
Builder Floor Apartment 1200 33 8
Vaishali 1000 37 9
Vasundhara 1500 46 4
Residential House 3000 94 1
NH-58 11 19 3
Fig1

Sqft) Rs/Lakh
CrossingsRepublik 1400 24 3
Builder Floor Apartment 1700 34 0.5
RamPrastha 1600 68 2
Multistorey Apartment 700 23 0.5
Residential House 2000 147 0.5
Kaushambi 700 26 2
SuryaNagar 2000 113 1
ChanderNagar 1800 89 1
Fig1

The total supply can be analysed in terms of price parameters with the help of
Chart 1. Clearly, the bulk of the supply in Ghaziabad comprises housing options
priced below Rs 25 lakh. Moreover, from Chart 2 it can be inferred that 2 and 3
BHK options form a bulk of the housing stock in the city.
Chart1
Chart2

Demand
Requirements posted on MagicBricks.com between March-May 2010 revealed that 60 per cent of the total demand in
Ghaziabad was expressed in Indirapuram, Vaishali, Vasundhara and Raj Nagar Extension. This is in tune with the supply
data as maximum residential options are in these areas. Reflecting the trends observed in the listings data, Indirapuram,
Vaishali and Vasundhara have experienced demand in a higher price bracket (Rs 30-60 lakh) while in Raj Nagar Extension
and Crossing City, the demand is for more affordable options (Rs 13-19 lakh) and the average size of housing options
with maximum demand lies in the range 800-1200 sq ft.
RequirementspostedonMagicbricks.com-Top10localities(Mar-May2010)
Locality Property Minimum Maximum Covered %of
Type Price Price Area Total
inLakh inLakh Approx Demand
Sqft
Indirapuram 34 36 1101 29
Builder Floor Apartment 18 21 1227 6
Multistorey Apartment 40 40 1099 21
Residential House 20 36 823 2
Vaishali 27 37 906 15
Villa 45 45 1050 1
Vasundhara 31 39 1071 10
Residential House 60 60 1430 0.5
RajNagarExtension 13 16 1017 6
CrossingCity 16 19 1198 4
Fig2

Chart 3 is indicative of the distribution of demand across the various price ranges in Ghaziabad. Clearly, the demand as
indicated by requirements posted on Magicbricks.com, is highest in the price range of Rs 25-50 lakh. Further, bulk of the
demand for housing in the city is in the 2 and 3 BHK segment. (Refer Chart 4)
RequirementspostedatMagicbricks.com-Top10localities(Mar-May2010)contd.
Sqft
NeetiKhand1 21 35 900 4
VaishaliExtension 25 35 900 3
Kaushambi 24 37 900 3
MBuilder Floor Apartment 20 30 850 0.5
Builder Floor Apartment 20 30 850 0.5
Fig2
Chart3

Supplyv/sDemand
Chart 5 shows the localities with maximum supply in terms of listings posted
on Magicbricks.com between Mar-May 2010 and the average sale price of
housing options in each of these localities.
Chart 6 shows the localities with maximum demand in terms of requirements
posted on Magicbricks.com between Mar-May 2010 and the average price
range within which these were sought.
Chart4
Chart5

Charts 5 and 6 clearly show a mismatch between supply and demand as far as
the price parameter is concerned. While the average price demanded is within
the range of Rs 20–30 lakh, property listings posted with MagicBricks.com
indicate that the available options are within a higher price range (Rs 40 lakh
and above).
BHK-wiseanalysis
2BHK
In Ghaziabad, the supply of housing stock as indicated by property listings with
Magicbricks.com is highest in the 2 BHK category. Raj Nagar Extension and
Indirapuram emerged as the top localities, comprising almost 80 per cent of
the total supply in this segment. The supply comprises mainly multi-storey
apartments with prices ranging between Rs 17-40 lakh. Localities such as Raj
Nagar Extension, NH-58 and Crossings Republik posted properties within lower
ranges (Rs 16-20 lakh).
Refer Fig 3 for more details
Chart6
2BHKMagicbricks.comPropertyListings(Toplocalities)–(Mar-May
2010
Sqft) Rs/Lakh
RajNagarExtension O1000 17 50

Fig3
Sqft) Rs/Lakh
Vaishali 900 36 7
NH-58 900 16 4
RamPrastha 900 32 1
Sahibabad 900 23 0.5
Analysis of the 2 BHK demand as indicated by requirements posted by end-
users at Magicbricks.com reveals that maximum demand for housing options
is in Indirapuram, Vaishali and Vasundhara within a price range of Rs 19-45
lakh. The demand comprises both multistorey as well as builder floor
apartments.
The demand in Raj Nagar Extension, which was the top locality in terms of
supply, is lower than the more developed localities such as Vaishali and
Vasundhara. However, at 7 per cent of the total demand in this category, the
locality is gaining popularity, especially for multistorey apartments within a
more affordable price bracket (Rs 12-15 lakh).
Refer Fig 4.

2BHKRequirementspostedatMagicbricks.com-Toplocalities(Mar-May2010)
Sqft
Vaishali 23 35 700 13
Fig4

3BHK
Within the 3 BHK segment, Indirapuram and Raj Nagar Extension emerged as
the top localities with maximum property listings posted at Magicbricks.com.
Refer Fig 5.
3BHKMagicbricks.comPropertyListingsTop10localities–
(Mar-May2010)
Sqft) Rs/Lakh
RajNagarExtension 1400 22 38
Vaishali 1300 44 7
Villa 2000 24 0.5
NH-58 1300 22 3
Kaushambi 1500 73 1
Fig5

Together they comprise approximately 80 per cent of the total supply in this segment. While Indirapuram, Vaishali and
Vasundhara posted properties with prices within Rs 35-50 lakh. Raj Nagar Extension, Crossings Republik and NH-58
posted more affordable options (Rs 22-35 lakh).
Indirapuram, Vaishali and Vasundhara emerged as the top localities within the 3 BHK segment in terms of the demand
posted by end-users at Magicbricks.com. The demand comprises mainly of builder floor and multi-storey apartments
within a price range of
Rs 30-60 lakh. However, in upcoming localities such as Raj Nagar Extension and Crossings Republik, the demand is for
housing options at a lower cost (Rs 15-25 lakh) and together they constitute 10 per cent of the total demand in this
segment. Refer Fig 6
Sqft
Vaishali 30 39 1200 15
Villa 37 37 1400 3
GyanKhand 25 33 1150 3
Fig6

4BHK
The 4 BHK supply was higher in developed localities such as Indirapuram,
Vaishali and Ramprastha and comprised builder floor and multi-storey
apartments as compared to localities such as Raj Nagar Extension and
Crossings Republik which posted high supply in the 2 and 3 BHK segments. The
housing options are priced between Rs 60 lakh and Rs 1.6 crore.
Echoing the supply trends, the demand in the 4 BHK segment was
concentrated in the developed localities such as Indirapuram and Vaishali with
price range between Rs 70 lakh and 1 crore. Refer Fig 7 and 8.
Sqft) Rs/Lakh
Vaishali 2000 81 11
Fig7

Sqft
Vaishali 70 90 2200 22
RajNagar 20 20 750 22
Fig8

GhaziabadRentalHousing
In Ghaziabad, the supply of rental housing options as indicated by listings
posted on Magicbricks.com between March-May 2010 was highest in
Indirapuram which comprised 70 per cent of the total supply. The housing
stock comprised builder floor and multi-storey apartments with an average
rental value of Rs 9000-11000 and covered area between 1000 and 1500 sq ft.
Refer Fig 9
Magicbricks.comPropertyListings(Rent)-Top10localities
(Mar-May2010)
Sqft) Rs/Lakh
Vaishali 9000 1000 13
VaishaliExtension 15000 1900 1
Kaushambi 12000 1300 1
JaipuriaSunriseSociety 14000 1600 0.5
SuryaNagar 20000 1900 0.5
Fig9

Analysis of the total supply in terms of price parameters can be done with the
help of Chart 7. Clearly, the bulk of the supply in Ghaziabad comprises housing
options with rental values between Rs 10,000 and 15,000. Moreover, from Chart
8 it can be inferred that 2 and 3 BHK options form a bulk of the rental housing
stock in the city.
Chart7
Chart8

Requirements for rental property posted on Magicbricks.com echo the supply trends as Indirapuram emerged as the
most demanded locality, accounting for approximately 40 per cent of the total rental demand. On an average, the
demand is for builder floor and multi-storey apartments with rental price between Rs 5,000-10,000 and average area
demanded between 800 and 1000 sq ft.
Vasundhara and Vaishali too emerged as popular localities as they accounted for 23 per cent of the total demand.
Refer Fig 10
RentalRequirementspostedatMagicbricks.com-Top10localities(Mar-May2010)
Sqft
Indirapuram 7000 9000 1100 41
Vasundhara 5000 8000 700 11
Vaishali 7000 9000 900 10
NeetiKhand1 3000 11000 600 9
AbayKhand 4000 12000 700 4
NeetiKhand2 4000 12000 700 4
Kaushambi 7500 11000 2800 3

Sqft
GyanKhand1 1000 10000 400 3
GyanKhand2 1000 10000 400 3
JaipuriaSunriseSociety 10000 15000 1100 2
Fig11
Chart 9 is indicative of the distribution of rental demand across the various price ranges in Ghaziabad. Clearly, the
demand as indicated by requirements posted at Magicbricks.com is highest in the case of housing options with rental
values between Rs 5,000-10,000. This is in contrast to the supply which was highest in the Rs 10,000-15,000 rental
housing bracket. Thus, there would be a shortfall in the market for low cost rental options.
Further, bulk of the demand for housing in the city in the leasing segment, is in the 2 and 3 BHK segment.
(Refer Chart 10)
Chart9

Chart10
BHKwiseanalysis
Within the 2 BHK segment, maximum supply was witnessed in Indirapuram
which accounted for approximately 75 per cent of the total supply. The average
rental price lay between Rs 8,000-10,000 for an average area of 900-1100 sq ft.
Other developed localities such as Vaishali and Vasundhara too, posted
significant listings for apartment rental values in this category. Refer Fig 11
2BHKMagicbricks.comPropertyListings(Rent)-Top10localities
(Mar-May2010)
Sqft) Rs/Lakh
Vaishali 8500 1000 12
Fig11

Analysis of requirements posted at Magicbricks.com within the 2 BHK segment reveal that the demand for rental options
is highest in Indirapuram, Vasundhara and Vaishali. The demand is for housing options with rental values between Rs
6000 and 8000 and covered area between 800 and 1200 sq ft. Refer Fig 12.
2BHKRentalRequirementspostedatMagicbricks.com-Top10localities(Mar-May2010)
Sqft
Indirapuram 6000 8000 1000 43
Vasundhara 5000 7500 800 15
Vaishali 7000 9500 900 10
NeetiKhand1 2000 10000 500 7
Kaushambi 7500 11000 2700 6
AbayKhand 1000 10000 400 3
NeetiKhand2 1000 10000 400 3
GyanKhand1 1000 10000 400 3
GyanKhand2 1000 10000 400 3
Fig12

3BHK
Within the 3 BHK segment, the supply was maximum in Indirapuram which
accounted for 76 per cent of the total supply. On an average, the rental price lay
between Rs 10,000-15,000 and covered area ranging between 1200 and 2000
sq ft. Refer Fig 13
(Mar-May2010)
Sqft) Rs/Lakh
Vaishali 12000 1500 7
VaishaliExtension 14500 1900 2
JaipuriaSunriseSociety 14000 1600 1
Fig13

Sqft
Indirapuram 9000 10000 1300 48
Vasundhara 7000 11000 600 10
Vaishali 10000 12000 1400 10
NeetiKhand1 10000 15000 1200 6
AbayKhand 10000 15000 1200 6
NeetiKhand2 10000 15000 1200 6
JaipuriaSunriseSociety 10000 15000 1200 6
Neetikhand-3 10000 15000 1200 6
Fig14
Analysis of the requirements posted at Magicbricks.com reveals demand for housing options in Indirapuram, Vasundhara
and Vaishali. However, the desired rent is lower (Rs 7000-12000) than the supply. Thus, there exists a gap between the
supply and demand as far as price in concerned due to the lack of low cost rental options in the 3 BHK segment.
Refer Fig 14

1BHK
Within the 1BHK segment, the rental supply was highest in Vaishali which
constituted 55 per cent of the total supply in this segment. Bulk of the supply
comprised builder floor apartments with average rental value between Rs
5,000 and 6,000 and the covered area between 400 and 700 sq ft. Refer Fig 15.
(Mar-May2010)
Sqft) Rs/Lakh
Vaishali 5000 450 55
Fig15

Sqft
Indirapuram 1700 5500 400 26
NeetiKhand1 2000 10000 350 19
Vasundhara 3000 6500 200 10
Vaishali 3000 4000 450 10
Fig16
Analysis of requirements posted on Magicbricks.com indicates that the demand for 1 BHK housing options is highest in
Indirapuram and Neeti Khand. Multistorey apartments with average rent varying between Rs 1,000 and 5,000 with
covered area between 300 and 500 sq ft constitutes the bulk of demand in this segment. Refer Fig 16
Rentv/sSale
Chart 11 compares the supply of sale and rental options in the top localities in Ghaziabad. While developed localities
such as Indirapuram, Vaishali and Vasundhara have adequate supply of both sale as well as leasing options, developing
localities such as Raj Nagar Extension and Crossings Republik fell short in the lease segment. This is due to the fact that
these localities are under-developed and many projects are yet to grant possession to their owners. However, wherever
Chart11

there are ready apartments for lease, the demand seems to be robust across
Ghaziabad. Therefore, the fact that there are 20,000 apartments which will be
handed over to buyers in 2010 indicates that this will be an active market for
lease rentals. Also 2 and 3 BHK, which is the preferred category among
Ghaziabad property seekers, is also the dominant category in Raj Nagar
Extension.
The demand for rental options too, though less than that for sale, is high in
localities such as Indirapuram and Vasundhara as these are fairly well-
developed. Moreover, as with the supply trends, no demand for leasing options
was witnessed in the developing localities of Raj Nagar extension and
Crossings Republik. However, strong demand for sale options in these localities
is telling of bring future prospects as far as the leasing segment in these areas is
concerned. Refer Chart 12

CHAPTER
6
Market Research
6.1 Locality Survey Analysis
GHAZIABAD
Brix Research conducted a market survey across Delhi NCR to find out the
consumer’s locality preference in NCR for end use and investment purpose.
In the survey conducted in the Delhi NCR on locality preferences in Ghaziabad,
it was found that Indirapuram and Raj Nagar Extension were the most
preferred locations for end use by most respondents.
About 37 per cent of the respondents chose Raj Nagar Extension as the best
place for investment as the project has huge future potential.

TransportConnectivity
In terms of infrastructure and connectivity, Indirapuram was ranked first,
followed by Kaushambi and Raj Nagar Extension. Indirapuram and Kaushambi
are well-connected by public transport compared to other areas in Ghaziabad.

AffordabilityvsPremium
Majority of the end users (56%) opted for affordable homes over premium
homes. Affordable homes are gaining popularity among end-users who have
increased investments in these homes.
CityPreference
In the National Capital Region (NCR), Ghaziabad is the most preferred region for
investing and living compared to others. The city benefits from the fact that it is
more affordable than the rest of the NCR towns and also because of its
proximity and connectivity to the economic centres.

Raj Nagar Extension projects share a good rapport among the people and 40
per cent of the respondents find it an excellent project.
Overall it can be concluded that the Raj Nagar Extension project is quite
popular among end-users and is considered a good option for investment
because of its affordability and connectivity. Ghaziabad is also a popular city
among investors and end-users compared to other cities of NCR. Transport and
connectivity remains an issue with some parts of the city but with the
upcoming State and Ghaziabad Development Authority initiatives, the
situation is expected to improve in the near future.

6.2 Consumer Survey Analysis
RAJNAGAREXTENSION
Brix Research conducted a market survey across Delhi NCR to find out the
consumer’s awareness about the Raj Nagar Extension Project and to gauge their
demand preferences from an upcoming residential project.
Raj Nagar Extension project is quite popular and people across the Delhi NCR are
aware about this project. As per the consumer survey conducted by Brix Research
across the Delhi NCR, it was found that 82 per cent of the respondents have heard
about Raj Nagar Extension project. However, when asked about the developers, a
mixed response was given. Approximately 44 per cent respondents knew about
the developers in the area.
AccessibilityandConnectivity
Majority of respondents (53%) said that the Metro should be linked directly to the
residential area where the new projects are coming up. This will make commuting
easier and decrease the travelling time. Public transport was the second option
chosen by 30 per cent of the respondents.

PreferredFeaturesinNewProject
Security, power back-up and regular water supply were the preferred services that
the people are looking for in upcoming residential projects. Shopping malls were
considered the most desired infrastructure facility near the residential area.
People also preferred that the schools and colleges should be available in the
vicinity.

AffordabilityFactor
The most affordable price bracket was Rs 20-25 lakh, which is the amount that
48 per cent respondents are willing to invest. Most of the respondents (62%)
were looking for a home for self use.

CommentsaboutRajNagarExtension
All the above points are present in the Raj Nagar Extension project or are in the
pipeline for future development. Most of the people emphasised the need for
entertainment hubs either in the project or in the vicinity. Services such as
school, hospitals, local market complexes, parks, multiplexes and space for
senior citizens are the other features that people want in the project. The
availability of affordable homes in Raj Nagar Extension is well-known among
the people and they are willing to invest in the project. Few respondents said
reaching the place is a problem but once the connectivity problem is resolved,
the project will witness huge demand.

6.3 Property Fair Data Analysis
RAJNAGAREXTENSION
Magicbricks.com organised a property fair showcasing all the properties on
sale at Raj Nagar Extension. A detailed survey was conducted on visitors to
determine the preferences while choosing a property to invest in, as well as
the level of awareness about Raj Nagar Extension as a real estate destination.
BuyerProfile
Majority of the demand for properties in Raj Nagar Extension is expected from
Delhi and NCR including Ghaziabad and Noida. Within Delhi, bulk of the
demand is from East Delhi. However, a very small percentage of buyers from
Faridabad, Meerut and Modinagar were also interested in the project.
BHKPreference
The preferred choice of housing is 2 BHK followed by 3 BHK.

Budget
Rs 15-20 lakh is the budget which buyers are willing to shell out for the projects
in Raj Nagar Extension.
Those who are looking for a 2 BHK house are planning within a budget of Rs 15-
20 lakh and those hunting for a 3 BHK apartment are maintaining a budget of
Rs 20-25 lakh.
The results clearly indicate that buyers in Delhi NCR are the major target
audience for selling apartments in Raj Nagar Extension. Connectivity to the
capital city and other neighbouring NCR areas could be one reason for high
buyer interest from these areas. Apartments of 2 and 3 BHK in the budget
range of Rs 15-20 lakh and Rs 20-25 lakh are most preferred. Transport links and
the availability of public transport in the future are also drivers of sale of
budget properties.

CHAPTER
7
Value Analysis
G
haziabad’s real estate market has witnessed remarkable growth in
the last few decades primarily due to proximity to the National
Capital Territory of Delhi and Noida in the National Capital Region
(NCR). During the boom time Ghaziabad had been designated as
the fastest growing city in the NCR and even featured on Newsweek
magazine’s list of 10 fastest growing cities in the world. Currently, there are a
vast number of affordable options coming up within this region.
A glance at the annual change in property values of Ghaziabad (locality-wise)
shows that values did not undergo any major escalation or depreciation during
the years 2008-2010, when most cities around the country and the world saw
negative sentiments owing to the economic recession. Capital values were
more-or-less stable and witnessed a marginal change of 5-8 per cent which is
very healthy as compared to other neighbouring cities. Ghaziabad was the
only city in the Delhi NCR which was able to maintain a stable trend in
residential and commercial property values.
A survey conducted by Brix Research revealed that Ghaziabad witnessed
transactions throughout the period of economic slowdown (Jan 2009-May
2010). The survey, conducted over a cross-section of users across East and West
Delhi, Ghaziabad and Noida, concluded that more than 50 per cent of the end-
users find Ghaziabad a very economical area for investment with immense
future potential.
With upcoming infrastructure projects, Ghaziabad is expected to witness a
huge housing demand leading to an escalation in real estate values in the
medium term. Ghaziabad Development Authority (GDA) is also playing an
active role in developing the city’s social and physical infrastructure. The
proposed Metro project and flyovers (near Mohan Nagar crossing) will
enhance connectivity and lead to an escalation in property values.
These measures have primarily been undertaken to service the demands of the
existing localities of Ghaziabad. The newly developing localities, such as Raj
Nagar Extension, have also been riding these upcoming facilities. They are
well-connected to the old localities and are emerging as preferred destinations
for budget-buyers who typically prefer to stay along transit corridors with easy
accessibility to public transport.
As per market data, projects that are ready for possession or are due for
possession at Raj Nagar Extension witnessed 10-20 per cent appreciation
during the Jan-May 2010 period while they had dropped by 5-10 per cent
during the Apr-Dec 2009 period. Since the markets have revived the values
have reached the launch price levels. Some projects have even registered a
premium over the original launch price. Combined with the enhanced level of
enquiries for the project, Raj Nagar Extension seems poised for a price hike.

CurrentScenario
Apr-June2010period
ResidentialOutlook
Ghaziabad’s realty market witnessed appreciation in values during the Apr-June 2010 period as compared to the Jan-Mar
2010 period. The residential values registered an average appreciation of 3-5 per cent in the last two months. As per
realtors, upcoming apartment projects are clocking higher demand with appreciation in values as compared to resale
properties. Brix Research analysis has revealed a 20 per cent escalation in the number of transactions during the April-
June 2010 period.
CommercialOutlook
The commercial sector also stabilised and values witnessed positive trends during the Apr-June 2010 period as
compared to the Jan-Mar 2010 period. Growth with appreciating values can also be witnessed in the retail sector.
The following table and graphs of Ghaziabad show the current residential values:
The following graphs show annual variation in values from Apr 2009 to Mar 2010. It can be seen that the residential and
commercial values have either appreciated or remained stable and the market is on the revival path.
CapitalValues(June’10) RentalValues(June’10)
LOCALITY Apartment Plot BuilderFloor Apartment Builder
Floor
(Rs/Sqft) (Rs/Sqyard) (Rs/Sqft) (Rs/month) (Rs/month)
Vaishali 3300-4500 45000-55000 2800-5000 8000-13000 8000-10000
Kaushambi 3000-4000 45000-65000 3000-4500 6500-12000 8000-9000
Indirapuram 3000-3500 50000-70000 2600-3500 10000-12000 6500-8000
Vasundhara 2500-3500 40000-50000 2500-2800 7000-10000 5500-8000
NH-24 2000-3000 10000-16000 2000-2200 6000-10000 6000-7000
NH-58 2300-2500 NA NA 6000-10000 NA

Jan-Mar2010period
ResidentialOutlook
Ghaziabad witnessed stable values during the Jan-Mar 2010 period as
compared to the Oct-Dec 2009 period. In the residential sector, areas such as
Vasundhara (5%), Indirapuram (10%) and NH-24 (4%) experienced an
appreciation in capital values of plots during the same period. Vasundhara
witnessed an appreciation of 10 per cent in capital values of apartments
followed by Vaishali with a 9 per cent growth in the Jan-Mar 2010 period
compared to the Oct-Dec 2009 period.

The fluctuation in plot values was observed in areas like Indirapuram that
registered the highest increase of 11 per cent in capital values of plots in the
Jan-Mar 2010 period compared to the Oct-Dec 2009 period. According to local
realtors,“most of the buyers are investing in affordable homes and low-budget
plotted development.”
CommercialOutlook
Both capital and rental values of commercial property in Ghaziabad
appreciated during the Jan-Mar 2010 period compared to the Oct-Dec 2009
period. According to market research data, the city offers property at cheaper
prices compared to Noida and Greater Noida. This is attracting more and more
investors.
Capital value of malls in Vaishali rose by as much as 33 per cent. However, the
capital values in local shopping complexes rose by 3 and 10 per cent in
Kaushambi and Indirapuram respectively during the Jan-Mar 2010 period
compared to the
Oct-Dec2009period
ResidentialOutlook
The Ghaziabad real estate market showed positive trends during the Oct-Dec
2009 period. A few transactions took place in both residential and commercial
segment in the city during this period. This was due to increased demand for
apartments in the city, as per local realtors. Capital values of apartments and
builder floors witnessed an increase of approximately 5-10 per cent. However,
plot capital values registered a drop owing to lack of demand.
CommercialOutlook
The commercial sector elicited a number of queries but the actual rate of
transactions was low. Space in local shopping complexes witnessed enhanced
demand as compared to malls. Local brokers reveal that there have been small-
sized deals in the commercial segment with approximately 5 per cent
transactions as compared to the Jul-Sep 2009 period.

In the retail category, a few transactions took place, mainly in the local
shopping complexes. Capital and rental values witnessed a 5-10 per cent
increase across all categories of retail, during the Oct-Dec 2009 period
compared to the Apr-Sep 2009 period.
Apr-Sep2009period
ResidentialOutlook
The real estate property markets of Ghaziabad witnessed mixed trends during
the Apr-Sep 2009 period. The apartment capital values were stable during the
Apr-Jun 2009 period as compared to the Jan-Mar 2009 period and saw little
fluctuation in the values during the Jul-Sep 2009 period. Few localities
witnessed appreciation in apartment capital values owing to higher demand.
Builder floor capital and rental values did not undergo any change during the
Apr-Sep 2009 period as compared to the Jan-Mar 2009 period.
Apartment capital values remained stable in Vaishali, Vasundhara, NH-24 and
NH-58 during the Apr-Jun 2009 period compared to the Jan-Mar 2009 period.
On the other hand, Kaushambi registered an 8 per cent increase and
Indirapuram registered a 7 per cent drop in apartment capital values during the
same period. This can be attributed to market corrections taking place in the
city.
CommercialOutlook
The commercial property market of the city has been stagnant during the Apr-
Sep 2009 period as compared to the Apr-Sep 2008 period owing to neglected
demand and no new supply. Office space values decreased in the Apr-Sep 2009
period as compared to the Jan-Mar 2009 period, but it was observed that the
decrease in values has resulted in an increase in the number of transactions
during the Apr-Sep 2009 period as compared to the Apr-Sep 2008 period.

Conclusion
Ghaziabad's residential segment witnessed demand for apartments. It
remained one of the preferred cities with many upcoming housing projects.
The recent entry of investors in the market is a positive sign and points towards
a growing market. Residential capital values across categories appreciated,
which can be attributed to increase in the number of transactions in new
properties. Most of the developers are coming-up with affordable housing
projects which are more in demand. There are premium projects as well in the
pipeline catering to needs of the upper middle class.
The upcoming affordable projects have witnessed 10-12 per cent appreciation
during the Mar-May 2010 period. The projects that are ready for possession in
2010 are more in demand as they are ready-to-move-in and are fetching a
premium of upto 20 per cent on the launched values.
Ghaziabad's commercial market remained more or less stable. The retail
segment witnessed more footfalls in malls and a marginal increase in values
during the Jan-May 2010 period.
Local realtors noted that though the queries have started pouring in, but the
commercial activity is still slow in the city and there is no fresh supply. Seeing
the current response the local realtors anticipate that the market will pick-up in
the next 4-5 months. The upcoming Commonwealth Games and the extension
of the Delhi Metro Rail Corporation's line to Ghaziabad are expected to act as
drivers to the commercial activity in the city.
Transactions are also expected to double in the next 4-5 months. The
residential segment is expected to grow faster than the commercial sector.
City-based realtors expect that with new supply in the pipeline and the
ongoing infrastructure development, the real estate market will witness growth
in the coming months.

Infrastructure, Transport
and Connectivity
8.1 Ghaziabad
Overview
Ghaziabad can be reached by air, road
and rail. The nearest airport is the
Indira Gandhi International airport at
Delhi, which is at a distance of about
45 km. Ghaziabad, by road, is well-
connected on all sides to Delhi, Noida,
Hapur, Modinagar, Meerut,
Saharanpur and Haridwar, among
other areas. A large number of people
commute between Delhi, Noida,
Greater Noida and Gurgaon from
Ghaziabad every day, for work.
There are bus terminals at Mohan
Nagar, Lohia Nagar, Vasundhara and
close to Meerut Road, from where
Uttar Pradesh State Road Transport
Corporation (UPSRTC) buses service
cities all over the state. The Anand
Vihar bus terminal of the Delhi
Transport Corporation (DTC) is
located on the border of Ghaziabad
and Delhi.
Ghaziabad is a railway junction and
several lines pass through it. The main
railway station is situated in the
middle of the old city. Ghaziabad is
well-connected to Delhi and other
neighbouring cities through fast-
moving local trains called EMU.
Several trains connect Ghaziabad to
Meerut, Aligarh, Delhi, New Delhi,
Faridabad, Palwal, Mathura, Indore,
Ujjain, Loni and other commercial and
economic hubs, facilitating daily
movement to these areas.
The Delhi Metro line extends to
Dilshad Garden station, which is
situated at the Apsara Border on the
outskirts of the city. At present, it
services the areas of Rajendra Nagar
and Shalimar Garden. This Line will
further be extended to New Bus
Stand Ghaziabad by 2012. The
Dwarka Sector-9 line was extended to
Anand Vihar and will now reach
Vaishali by September 2010, before
the Commonwealth Games.
Roads
Ghaziabad is connected to Meerut by
metalled road and other roads lead
north-west to Loni and Baghpat and
east to Hapur and Garhukteshwar.
Buses run at frequent intervals from
here to Delhi, Meerut, Aligarh,
Bulandshahar, Moradabad, Lucknow
and to other districts in the state too.
Railway
It is an important station of the
Northern Railways where railway lines
from Delhi to Kolkata, Moradabad and
Saharanpur meet, connecting it with
many other important cities and
regions in India.
IntegratedRail-cum-Bus-Transit
Project(IRBT)
There is a proposal to link Delhi
(Shahdara) with Ghaziabad through
IRBT system and a token budget
provision of Rs 1,000 was made in the
CHAPTER
8

Financial Year 2005-2006. However, no
budget provision has been made in
the current financial year. Thus,
implementation of the project has not
yet started but there is an alternative
proposal to extend the Delhi Metro
Rail from Delhi to Ghaziabad. The
issue relating to the suitability of IRBT
vis-à-vis metro rail in terms of cost-
effectiveness is under consideration
by the Planning Commission and the
National Capital Region Planning
Board. In any case, one of the projects
will have to be taken up during the
11th Five Year Plan to provide rapid
mass transportation system between
Delhi and Ghaziabad.
Metro
The Ghaziabad Development
Authority (GDA), with the permission
of the government of Uttar Pradesh,
has taken-over the metro rail project
in the city, which will connect
different parts of Ghaziabad to the
metro rail network of the National
Capital Region. A MoU has already
been signed between the GDA and
the Delhi Metro Rail Corporation.
Under the agreement the project will
be executed in three phases:
- PhaseI:Rajiv Chowk - Vaishali
- PhaseII: Vaishali – Indirapuram -
Mehrauli
- PhaseIII: ISBT (Delhi) – Bus Stand
Ghaziabad
The GDA is playing an active role in
developing the city’s social and
physical infrastructure. Projects on-
board include - proposed metro
project, construction of 17 new
flyovers for signal-free travel, a 6/8-
lane expressway for faster
connectivity and a 7,800 MW power
generation project at Dadri, which will
provide uninterrupted power supply
to the area.
(Sources:HousingandUrban
PlanningDepartment-Commentson
theApproachPaperto11thFiveYear
Plan-http://awas.up.nic.in/and
http//www.gdaghaziabad.com/
index.php)

In November 2007, 15 developers in
the Ghaziabad region formed Raj
Nagar Extension (NH-58) Developer's
Association (RNEDA) in a collective
effort to develop the area. Each of
these builders had a stake in the
region’s development as they had
ongoing projects in the concerned
area. The Association terms it the
“most well-planned city in the NCR,
having good connectivity with Delhi,
Noida, Greater Noida, Vasundhara,
Indirapuram, Vaishali, Meerut and
Hapur.”
RNEDA aims to expedite development
in the region, including connecting
roads to Delhi, Noida, Greater Noida
and Meerut, water supply, drainage
system and electricity connection. The
association comprises of developers
such as Ashiana Homes, SVP Group,
SG Estates, Landcraft Developers Pvt
Ltd, KDP Infrastructure Pvt Ltd, Shree
Energy Developers Pvt Ltd, Ajnara
India Ltd, Ascent Buildtech and also
includes upcoming developers such
as High-End Infratech, Krishna Asset
Reconstruction, MCC Builders,
Quantam Buildwell Pvt Ltd and
Shomit Finance Limited.
Raj Nagar Extension is 25 km from
Delhi’s Central Business District of
Connaught Place and only 12 km from
the Delhi-UP border. Since the area is
yet to be developed, it has given the
Ghaziabad Development Authority
and the interested developers a
chance to carry on planned
development in the area, even before
the occupancy begins. Explains a
member of the Association,“Soon, the
area will be connected through a six-
lane expressway connecting GT Road
with NH-58, which eventually goes
straight to Dehradun via Meerut. Just
a km-long stretch is yet to be
completed, which is expected to be
completed within a month.”Because
of this connectivity, travel time to
Delhi as well as Noida from the Raj
Nagar Extension has been reduced to
30 minutes; 10 minutes to
Vasundhara, 15 minutes each to
Indirapuram and Vaishali.
The Metro Rail is also on the verge of
knocking the doors of Raj Nagar
Extension when it enters Ghaziabad.
This is expected to help residents and
transform the area. The project is to
be completed in three phases and the
MOU has already been signed with
the Delhi Metro Rail Corporation.
PhaseI: Rajiv Chowk - Vaishali
PhaseII:Vaishali – Indirapuram -
Mehrauli
PhaseIII: ISBT (Delhi) – Bus Stand
Ghaziabad
Connectivity is a key to the
development of an area, especially for
a real estate housing destination in a
metro city like Delhi. Better
connectivity not only reduces
commuting time but also brings
down the cost of travel. If a new
connecting road is developed
because of rapid development of the
city, which not only speeds up traffic
but also reduces distance, it could
prove a boon to a far-flung area. Raj
Nagar Extension on National Highway
58 (connecting NCR to Dehradun via
Meerut) is going to benefit by the
new roads, which are being
constructed to de-congest the traffic
flow in the city.
8.2 Raj Nagar Extension

Because of the 2010 Commonwealth
Games, various city authorities of the
NCR are implementing a number of
projects to decongest traffic and
speed-up flow of vehicular
movement. A number of flyovers are
being built on various roads
connecting central Delhi to GT Road
via the Dabur Crossing and Anand
Vihar Inter-state Bus Terminal.
To reduce the traffic load on the
existing roads, authorities are
developing a new connecting road
along the Hindon canal, which
connects the Noida toll bridge near
the Metro station at Ashok Nagar in
Delhi on one end to the GT Road just
before the bridge on Hindon River on
the other. This will enable one to
completely bye-pass the congestion
of Mohan Nagar in reaching Raj Nagar
Extension from Delhi, Noida, Vaishali,
Vasundhara and Indirapuram.
Because of these roads, if one travels
along the Hindon canal, the distance
to South Delhi via the toll road is
reduced by almost 30 per cent, while
the distance to Noida Sector 63 via
Indirapuram has reduced by almost
50 per cent. Raj Nagar is now only
approximately 12 km from Noida
Sector 63, and about 15 km from the
Noida toll bridge. The new approach
road has brought down travel time to
less than half because of smooth flow
of traffic. Further, the proposed
flyover and road from Hindon airbase
will offer express connectivity to Delhi
via Wazirabad. As per the latest policy
development, the proposed Delhi-
Haridwar highway will also pass
through Raj Nagar Extension, further
enhancing connectivity of the area.
As planned by the Uttar Pradesh
government, a girl’s hostel, a
vocational college, and a training
institute have also been announced in
the vicinity of Raj Nagar Extension.
Work on these projects has already
begun and will accelerate
development in the area. Fifteen
realty firms are developing over
10,000 apartments in the area.
To sum it up, Raj Nagar Extension will
have multiple lanes of connectivity
with Delhi and nearby areas by way of
the proposed expressway, flyover and
Metro link. With real estate at Noida,
Greater Noida and Indirapuram and
surrounding locations quoting
premium rates, this location offers an
opportunity to buy at today’s prices at
the entry level. However, once all the
infrastructure connectivity is
established, there is excellent future
scope of capital appreciation, with
additional benefits such as well-
planned location with excellent
connectivity and a huge green buffer.
Source:
http://rajnagarextn.com/default.html
http://content.magicbricks.com/raj-nagar-
extension-%E2%80%93-the-new-
area-of-expansion

G
haziabad’s proximity to
Delhi, Noida and Greater
Noida has made it one of the
most preferred real estate
investment hubs in the National Capital
Region (NCR). Affordability vis-à-vis
Gurgaon, Noida and Delhi has led to a
surge in demand for property in the
city. The rapidly developing physical
and transport infrastructure and the
affordability in property values
compared to other developing
localities in the NCR has attracted
investors and end-users.
With the rise in demand for new
residential sectors there has been a
rapid growth in the number of new
localities such as Indirapuram, Vaishali,
Vasundhara and Kaushambi. Raj Nagar
Extension is the latest entrant in
Ghaziabad’s residential development
canvas and is fast growing on the back
of existing and upcoming city
infrastructure. With the launch of
premium and affordable residential
projects, a wide variety of options are
available.
TransportConnectivity
The six-lane link road between the
Hindon Bridge and Ghaziabad, acts as a
bye-pass for NH-58. This combined with
the reserved green belt has led to
pollution-free, serene and affordable
locality. Further completion of the
proposed highway projects is expected
to reduce travel time and enhance
connectivity leading to greater end-
user demand. This should translate into
an increase in rental values and greater
occupancy.
Raj Nagar Extension is about 15 km
from the Delhi-UP border. With the
proposed Metro line that would service
Raj Nagar Extension being approved,
the area is expected to witness a sea
change in high speed travel and
development activities.
Affordability
Being under development and yet to
be occupied, the capital values of
apartments in Raj Nagar Extension are
currently far more affordable than
those in Indirapuram, Vaishali and
Vasundhara. Also, to escalate the
development work in Raj Nagar
Extension, builders have formed an
association that is collaborating with
the Ghaziabad Development Authority
to speed up the development work.
This is critical in ensuring that
occupancy picks up immediately after
possession has been handed over. The
Developers Association estimates that
over 20,000 apartments would be
handed over in 2010 alone. These
measures have all helped in attracting
huge buyer interest.
StrongBranding
However, multiple offline and online
surveys conducted in the Delhi NCR
shows that the level of brand
awareness about Raj Nagar Extension
among buyers is fairly high. Clearly
brand Raj Nagar Extension has evolved
and is expected to pay dividends into
the future.
ValueAppreciation
The Raj Nagar Developers Association
maintains that the locality is going to
be one of the next big investment
destinations in the Delhi NCR region in
the next 8-10 years. However, as
occupancy rises after the first wave of
possessions, prices too are expected to
rise. Even the completion of
infrastructure projects is expected to
lead to a rise in property values. The
quarter April-June 2010 has already
witnessed a 5-7 per cent rise in
property values as projects near
completion. This trend is expected to
stabilise into the future.
Future Outlook
CHAPTER
9

DISCLAIMER
The report compiled by Brix Research is intended
to provide indicative information on the
Ghaziabad market. Brix Research gives no
warranty, express or implied, as to the accuracy,
reliability and completeness of any information
and does not accept any liability on the
information which may or may not be subject to
change from time to time due to governmental
or non-governmental regulations/directions.
Information provided in this report shall not be
reproduced, published, re-sold or otherwise
distributed in any medium without the prior
written permission of Brix Research. However,
limited portions of the information provided in
this report can be quoted in occasional reports,
articles, and studies without any written
permission from Brix Research. This should be
done with a clear acknowledgement to
Brix Research as the source of information. The
acknowledgement should mention the name of
the report, month of release and “Brix Research,
Times Business Solutions Ltd”.

Raj Nagar Extension Demand-Supply Analysis

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