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Widening Of NH 24 Will Boost The Economy And Increases The Real Estate Demand Around It

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Widening Of NH 24 Will Boost The Economy And Increases The Real Estate Demand Around It

Ghaziabad is a city in the Indian state of Uttar Pradesh and a part of the National Capital Region of Delhi. It is the administrative headquarters of Ghaziabad district and is the largest city in western Uttar Pradesh, with a population of 1,729,000. In Last decade and a half has seen tremendous change in NH 24 real estate. It has given smiles to end users as well as investors.

In Ghaziabad, this highway has been a centre of attention since the time real estate development started to take place around it. Almost all the well-known developers are present on this stretch. From townships to apartments, from affordable houses to luxury apartments, the highway has everything on offer. In the last decade, the place has seen good appreciation, thus providing investors an opportunity to smile.

What Is NH-24 Road ?

NH-24 is the highway with the second-highest traffic volume of all the roads providing connectivity to the capital. On average, 1.57 lakh vehicles crossed the Nizamuddin bridge in 2007 and 80% of them were from outside Delhi. It was then that the widening of NH 24 came into being and authorities started giving attention to the idea. Now, the widening has been done and work is still progressing but the difference can be seen in the smooth traffic flow.

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What does Yash Miglani, MD of Migsun Group Said

A lot of real estate development has taken place along the corridors such as National Highways and State Highways. The development was also supported by the government by promoting industrialization around these transport corridors. The combination of employment generation units and residential developments work wonders for economic growth; the same holds true for NH 24 as the development along this highway is happening in a planned manner. The demand has always been good and with the widening, it is staring at a multifold increase in the coming months or years.

Future Plan For Residents Around NH-24 Road

With rates varying between Rs. 2600 to 6500 per square feet, properties around NH 24 have opened a new investment option for all the residents. The sales volume on this stretch is likely to be dictated by new places while the ‘veteran’ places such as Indirapuram will enjoy the resale market to the maximum. “Demand of residential apartments is very high in the area and till now supply had been adequate. As the demand for this area is growing, so if somebody is looking for a property as an investment option, areas around NH 24 are the places to invest. For the end-user purposes too, the location is very good as being fully inhabited. Also being close to Noida (Major Industrial Hub) all the amenities and other commercial establishments are already there,” says Vikas Bhasin, CMD, Saya Homes.

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