Indirapuram has emerged as one of the prime localities of Ghaziabad, competing with Vaishali and Kaushambi — two most developed regions in Ghaziabad — in terms of growth and development.
Industry experts say Indirapuram is one of the few urban zones to have registered tremendous growth over the past decade. The primary reason is its all-round self-sustaining ecosystem: wellplanned layout with a healthy mix of residential and commercial projects. This is complemented by various non-commercial and institutional infrastructure like schools and healthcare facilities.
“There have been various factors that have led to the growth of Indirapuram on a sustainable basis. The region is located on the border of east Delhi and is a part of the Ghaziabad district.”
“Although, practically, both the regions are seamlessly integrated, land rates and real estate prices are hugely different in both locations. This has led to increase in demand and associated prices. Over time, the government invested in various infrastructure-related activities like roads, uninterrupted power supply, Ganga water supply, public transport, Metro connectivity, etc,” Amit Chawla, Senior Associate Director (valuation and advisory services) at Colliers International India, said.
Indirapuram abuts Noida, Sectors 60-63 to be precise. There has been a surge in commercial and IT-ITEs projects in these sectors, enhancing the scope of employment and, concomitantly, demand for housing in Indirapuram itself.
Pradeep Aggarwal, Co-Founder and Chairman of Signature Global and Chairman of National Council on Affordable Housing, Assocham, says: “Indirapuram has come a long way over the last decade, making full use of its proximity and equidistance Delhi, Noida, and Ghaziabad. The region has made a mark in the sector through high sales in housing and commercial properties.”
As for the top residential projects in the region, data with Colliers International includes ATS Advantage, Orange County, and Saya God Avenue, with average price points ranging between Rs 4,700 and Rs 6,500 per sqft.
In the retail segment, Indirapuram Habitat Center, Shipra Mall, and Aditya Mall, are among the highly performing projects, whose capital values range between Rs 8,000 and Rs 20,000 per sqft, while the rental rate ranges between Rs 80 and Rs 150 per sqft per month.
A PropTiger report indicates the immense popularity of Indirapuram, which has led to the development of new micromarkets in the vicinity like Siddharth Vihar and Pratap Vihar.
Big developers like Antriksh, Prateek, Apex, and Gaursons have launched projects in these micromarkets. In 2017, around 1,240 units were launched in these micromarkets, whereas 1,464 new units were launched in the first half of 2018. Ample land and commercial areas across the highway are driving demand in this area.
Keeping all these factors in view, industry experts and developers are quite bullish about the region’s growth prospects. “GDA has put the development of infrastructure in the area on fast track. The key growth stimulators are — the Hindon Elevated Road connecting UP Gate on the Delhi-Ghaziabad border with Raj Nagar Extension in Uttar Pradesh, which drastically cuts travel time; widening of the national highway which has worked in favour of Ghaziabad and is fuelling growth. Indirapuram, too, has been reaping the benefits of all these advantages,” Manu Garg, President of Credai Ghaziabad, said.
Source: Times Property, The Times of India, Delhi/NCR