Any area which has the potential to grow in terms of infrastructure and has great connectivity attracts investors and end users instantly. Buyers are normally attracted to areas which have great social and physical infrastructure. When there is increasing clamour around such areas, the value of real estate appreciates. The same holds true for properties in the NH24.
The potential for NH24 as a destination for investment in real estate can be attributed to several factors.
- NH24 is easily accessible from Noida, Delhi and Ghaziabad. NH 24 lies very close to Kavinagar and Rajnagar. NH24 is also provides easy access to NH91.
- A metro is also proposed for this area. Developers believe with improvements to infrastructure this area will flourish. This is the main reason for investing in this area.
- The NCR region is not too far from NH 24. Hence this is an ideal location for investment.
- The infrastructure around this area is also set to improve. NH24 will soon be widened to eight lanes which will go a long way in easing traffic along this stretch.
- This combined with the proposal for three underpasses by the Ghaziabad Development Authority in the region makes the area around NH24 a hot commodity in terms of real estate.
- Essential facilities such as an Inter State Bus Terminus, the Ghaziabad railway station, schools, colleges and hospitals are located very close to this area. This makes NH 24 a great choice for those looking for locality which is family friendly.
- Another point in this area’s favour is the pricing. For example compared to plots for sale in Noida or apartments in Ghaziabad, NH24 offers cheaper alternatives.
- The area has everything for everyone. The price paid for land is comparatively low and the prices of apartments for sale in the NH 24 highway are also very low compared to the other regions in NCR.
- The overall market sentiments are low and while investing one should keep a minimum of 5-7 years time frame in mind.
- Depending on the status of the proposed highway expansion and metro rail one can expect steady annual appreciation ranging between of 8 -12% for this area.