Twenty-five developers have taken the job of delivering affordable houses to buyers in Raj Nagar Extension,and have delivered 800 units so far
Raj Nagar Extension is one place that defied many myths and perceptions in the real estate circles.One of the strongest doubts was when people started talking of the model where real estate developers work towards one project.The place saw the conglomeration of 12 developers initially,and as the project got off,more joined the cause.And,Raj Nagar Extension doled out affordable homes at a time when many such options were not available even in the Delhi NCR.As of now,there are 25 developers who have taken the job of delivering affordable houses to buyers.
Then the myth that people will not come to the place as it seemed,at that time,that it is away from main road has also been busted.Today,the people who invested here feel vindicated about their decision as the infrastructure which was promised by developers is in place.Four years after the project took off,enquiries have not stopped and the place has emerged as one of the most talked about real estate destinations in Ghaziabad.
What worked
Manu Garg,spokesperson of Raj Nagar Extension Developers Association and director of Landcraft Developers,says: "We always knew that once the units are delivered,the area will see an enhanced interest from buyers.Many families have started living here.With timely delivery,we have proved that a conglomeration of developers can work in unison if they have a common cause."
Buyers are always concerned about the time of possession and whether their dream home will see the light of day.By delivering around 800 units,developers of Raj Nagar Extension has shown their intent and seriousness towards timely delivery and,thus,the place is witnessing an enhanced interest from new buyers.One of the major attractions is the adjoining green belt,which will remain undisturbed because Ghaziabad Development Authority has declared 500 acres along the Hindon river as a green belt and has banned construction activity in the area.
Gaurav Gupta,managing director of S G Estates,says: "Raj Nagar Extension is near the bypass and one can travel to Delhi or other cities without crossing the crowded areas of Meerut or Ghaziabad.Another good thing about the area is that it is in the vicinity of posh localities of Ghaziabad.The area is linked through a six-lane expressway connecting GT Road with NH-58.What is the point of having your home far away from the civilization So,it is always good to choose places that are near developed areas and have infrastructure to support real estate development."
Options for all
Vijay Jindal,chairman and managing director of SVP Group,says: "With clear land titles and the serious intent of the developers to deliver,Raj Nagar Extension has a wide range to offer customers;from 1BHK for Rs 12 lakh to a 3BHK for Rs 40 lakh.We believe that 'affordability' has a wider connotation and,hence,we have kept our price range wide so as to include the whole of the middle class.Though this place,too,will become fully occupied in the next three years,it will still be far ahead of other places where the population density will not appreciate before the next five-six years."
Infrastructure
According to Ghaziabad Development Authority,the place will have top-notch social infrastructure like the GD Goenka International School (announced by the Uttar Pradesh government),a girl's hostel,a vocational college,and a training institute.Work on these projects has already begun and will accelerate development in the area.
The area will also be linked through a six-lane expressway connecting GT Road with NH-58,which will eventually go up to Dehradun via Meerut.Further,a proposed flyover and road from Hindon airbase will offer express connectivity to Delhi via Wazirabad.According to the latest policy development,the proposed Delhi-Haridwar highway will also pass through Raj Nagar Extension.
Investment friendly .
Developers say that buyers have all the options at hand,be they construction-linked plan or ready-to-move plan.With clear land titles and progress in delivering units so far,Raj Nagar Extension is a one-stop destination for a wide band of middle-class end users.Manoj Goyal,the chairman and managing director of KDPMGI,says: "It is good to invest in areas where development has already taken place and people have moved in.This way you will know that your investment is secure.An area that offers affordable homes and can provide secure investment is Raj Nagar Extension."
"Raj Nagar Extension has seen good infrastructure development as promised and,thus,people have moved into the area in just four years of its launch,"says Dujender Bhardwaj,director of JMD Realty Pvt Ltd.
"Check all the papers of the developer and do not fall prey to sugar talk.You have a right to ask for papers.The first thing that a buyer should ask about a project is whether the land has a clear title or not.They should check all the government clearances before investing.
