Upcoming Infra to boost Rajnagar Ext’s Realty Market Rajnagar Extension has undergone development at huge scale and is deemed to be the affordable housing solution in the NCR, saysGaurav Gupta, General Secretary- Rajnagar Extension Association (CREDAI CHAPTER). He spoke about the future prospects of the area in an exclusive interview with CommonFloor. Here are the excerpts. How do you think the market in Raj Nagar Extension will shape up over the next two quarters? One should not think that there is no availability for the affordable segment in Delhi NCR as Rajnagar Extension offers something for every consumer group. The growth of real estate development in terms of sales turnover has witnessed a gradual growth off late, but we are looking forward for a marked improvement during and post festival season. One of the prime reasons for this should be credited to the government’s initiatives to accomplish the dream of “Housing for all” by 2022, which had reflected in the budget. To top the chart, even the state government is looking forward to heavily invest in basic infrastructure around the region. What are the factors fuelling growth in the area? Connectivity is the locality’s USP as it is well connected to neighbouring areas like Vaishali, Vasundhra and Indirapuram. It is just 15 minutes’ drive from Noida and 30-40 minutes drive from Hapur. Further, construction of a six-lane expressway and the Metro line has already started. Again the aspect of state of the art facilities such as round-the-clock security, good schools, multiple amusement parks coming up in the vicinity; plans which are approved by GDA and state government which includes Golf Course, IT, SEZ’s, offices, parks et-al. What are the infrastructure projects that are under progress and will impact the realty market? As mentioned earlier some of the physical infrastructural developments are in the pipeline, like the link between NH-24 and NH-58 has been under consideration. The area will become further accessible with the proposed 3-lane bridge over the Hindon River on GT Road. The project to widen the 6-lane road to 8-lane from Dabur T-junction to Meerut T-junction via Mohan Nagar and NH-58 is also underway. Also, the Mohan Nagar intersection which is perched to become the intersection point for commuters to switch over between the Delhi Metro and the proposed
Regional Rapid Transport System (RRTS) an inter-city high speed train connectivity project would definitely be a game changer for development of Rajnagar Extension. How would you rate Raj Nagar Extension in terms of social and physical infrastructure? Connectivity and affordability are prime factors driving the popularity of the region. New linking roads-apart from the six-lane road connecting RNE to Hindon Bridge and NH-58-are coming up that will be a feather in the cap for boosting connectivity further. A slew of measures like construction of sewerage treatment plant, construction of power substation as well as beautification work on the banks of Hindon are on the roll. Once these are established, it will definitely attract customers to vouch this region’s development, and in turn improve the rating in terms of infrastructure. What kind of projects (affordable, mid-segment, luxury) are coming up in the area? Rajnagar Extension is poised for real estate development ever since 2007. It has undergone development at huge scale and is deemed to be the affordable housing solution in the NCR. The region boast of varied options with projects in group housing segment and gated communities whereby assortments pertaining to penthouse, mid luxury apartments and independent apartments are also available at a throw away price as compared to Noida Expressway and Greater Noida. How much appreciation can one expect on an annual basis? Prices are very reasonable at this stage and seeing the buoyancy of development and infrastructure, one can easily look for appreciation of 20-30 per cent in a year’s time. What are the major challenges in the area? The only challenge that we are facing is slow pace of development of the proposed sustainable development internal road and the sub-link which is actually hindering the process of holistic development in the region. Addressing these issues would definitely put the wagon for development on the roll. Source: CommonFloor.com For Latest Updates on Real Estate Updates, Property News and Cities Infrastructure Developments Visit: http://www.commonfloor.com/guide
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