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Raj Nagar Extension : Affordable housing hub

With the economic environment seemingly caught in a storm, one of NCR’s most sought-after and newly-developed location for housing, Raj Nagar Extension, besides emerging as a veritable satellite city to Delhi, is also providing excellent affordable options for middleclass home buyers.

he residential segment of the real estate sector has witnessed considerable growth in the last decade and more so in the National Capital Region (NCR). And with the prophets of doom holding out new lows for the economy, affordable and middleclass options in places like Raj Nagar Extension are turning out to be the flavour of the season.

“Raj Nagar Extension has witnessed a growth of approximately 40 per cent in the prices of residential space during the last two years. And if we compare year-on-year, the average real estate area rates have grown from `1,450 per sq ft in the first quarter of 2011 to `2,600 per sq ft in the last quarter of 2012, which translates into a growth of almost 80 per cent,” claims a senior official of a top property website.

At present, about 3,000 families reside in and around Raj Nagar Extension and about 10,000 amilies expected to shift in soon. Apart from being the only planned city set up by a large group of 35 builders, Raj Nagar Extension has a lot to offer to the buyers.

“All this at the competitive price of 25 Lakh for 2 BHK apartments makes Raj Nagar Extension an attractive option for buyers to invest in. With these offerings, the residential hub has tried to bridge the demand-supply gap that currently exists for affordable housing across income groups in the housing sector,” says Gaurav Gupta, joint secretary, Raj Nagar Extension Association.

“A major benefit of living here would be its strategic location which provides convenient connectivity with Delhi, Noida, and Greater Noida. The proposed 3-lane bridge over the Hindon River at GT Road, widening of the 6-8-lane road from Dabur Tjunction to Meerut T-junction via Mohan Nagar and NH-58 and a proposed 6-lane linking road between NH-24 and NH-58, makes it easier for the residents to commute,” adds Gupta.

40-50 real estate developers carrying out development work in the area
Builders who have already given possession or are in the process
Land Craft
Ashiana
SG Estates
Ajanara
Classic
Gulmohar
Deevika Skypers
Approximately 3,000 families residing at present, about 10,000 expected to move in soo

From the end-user’s perspective, Rajnagar Extension scores above other estinations in Delhi NCR because of the low cost and free-hold nature of property besides its proximity to Delhi. Moreover, despite bottlenecks and delays in infrastructure projects, government authorities are willing to provide their support and are keen to speed up the work.
Vishwanath Agrawal, CMD, Techman Buildwell

LandCraft Developers has already developed its first project in Raj Nagar Extension—‘River Heights’ and more than 760 apartments have already been handed over to the lucky buyers
More than 650 families are currently residing there while over 600 apartments are under construction in the Phase-II, says Manu Garg, director, LandCraft Developers Pvt Ltd and vice president, CREDAI, NCR
Asked about the price trend in the locality, Garg says that in the next three years, there may be an appreciation of 50 per cent for this area
Once fully-developed, Raj Nagar Extension with its fully-planned and infrastructure facets, may well prove to be one of the most modern zones in NCR

Being an integrated city, it offers many modern amenities to buyers, like hospitals within a 3-km radius, prominent schools like GD Goenka and DPS, shopping mall at close proximity, market areas, gymnasiums, swimming pools, parks, efficient power back-up, well-laid out parking areas, etc.

“Further, according to Raj Nagar’s master plan, 70 per cent of the total area has been kept aside for green spaces thus providing residents a green and eco-friendly environment,” Gupta says. Asked about the investment option in Raj Nagar Extension,

Honey Katiyal, chief executive officer, Investors Clinic, says: “Good returns can be expected from Raj Nagar Extension in the medium term and it is also a good option for those who work around that region.”

Says Ashok Gupta, managing director, Ajnara India Ltd: “The satellite town concept is going to go a long way and the success of Raj Nagar Extension and Crossing Republik only proves it. Today, Raj Nagar Extension has become synonymous with good living, beautiful landscaping, infrastructure, and world class facilities in every aspect. In a few years, most of the projects will be ready for possession and thousands of people will start residing here. We expect it to get developed as a satellite town of Delhi.”

Sky-rocketing property values all across Delhi NCR have led to a consumer perception of dearth in availability of homes in the affordable range. However, Ghaziabad, a suburb of the capital city, comes as a rescue for those who are looking with a budget of `40 lakh onwards, with all modern facilities. One of the major attractions of the developing area is the adjoining green belt, which will remain undisturbed because GDA has declared vast area along the Hindon as a green belt and has banned construction activity in the area. Rajnagar Extension is not only a freehold land at your possession but a blissful blessing to find a whiff of fresh clean air to breathe in. Raj Nagar Extension is a one stop destination for a wide band of low income group (LIG) to high income group. Apart from budgetary availability, the area offers promising rental values and not to forget the value appreciation happened in last few years and it’s still anticipated to give higher returns in years to come.
Praveen Tyagi, CMD, VVIP Group

“Further, according to Raj Nagar’s master plan, 70 per cent of the total area has been kept aside for green spaces thus providing residents a green and eco-friendly environment,” Gupta says.

Asked about the investment option in Raj Nagar Extension, Honey Katiyal, chief executive officer, Investors Clinic, says: “Good returns can be expected from Raj Nagar Extension in the medium term and it is also a good option for those who work around that region.”

The satellite town concept is going to go a long way and the success of Raj Nagar Extension and Crossing Republik only proves it. Today, Raj Nagar Extension has become synonymous with good living, beautiful landscaping, infrastructure, and world class facilities in every aspect. In a few years, most of the projects will be ready for possession and thousands of people will start residing here. We expect it to get developed as a satellite town of Delhi.
Ashok Gupta, MD, Ajnara India Ltd of Delhi

Good returns can be expected from Raj Nagar Extension in the medium term and it is also a good option for those who work around that region.
Honey Katiyal, CEO Investors Clinic

Not that just the affordable aspect has only been kept in mind. With an eye on new demands and trends of contemporary living, the consortium of builders has also launched ultramodern projects in the luxury segment.

The ‘Moti Residency’ project by Techman Buildwell group, located at Motra Village in Raj Nagar Extension, is well into the second phase of its construction. Motra village is one of the seven villages whose area is earmarked by GDA for the Raj Nagar Extension area. The project is spread over an area of 20,000 sq meters and offers 1/2/3 BHK options with basic rate of `2,900 per sq ft. The company plans to give possession of the entire project by the end of 2015.

Similarly, K World Group’s ‘KW Srishti’ and KDP Infrastructure’s ‘KDP Grand Savanna’ in Raj Nagar Extension have attracted prospective buyers in droves to book their berths on their respective projects.

“From the end-user’s perspective, Raj Nagar Extension scores above other destinations in Delhi NCR because of the low cost and free-hold nature of property besides its proximity to Delhi. Moreover, despite bottlenecks and delays in infrastructure projects, government authorities are willing to and are keen to speed up the work,” says Vishwanath Agrawal, chairman and managing director, Techman Buildwell.

Adds Anuj Goel, executive director, KDP Infrastructure: “Raj Nagar Extension has also lined up a number of infrastructure projects such as metro-rail and multiple roads to provide smooth connectivity to the national capital.”

The proposed Delhi Metro service from Dilshad Garden to Arthala, as well as to a new substation, has already been approved by the GDA. One of the major attractions of the developing area is the adjoining green belt, which will remain undisturbed because the GDA has declared 500 acres along the Hindon as a green belt and has banned construction activity in the area.

Says Pankaj Kumar Jain, director, K World: “The best part of buying a flat or property in Raj Nagar Extension is availability of free-hold land and its’ low-cost. This area offers the cheapest land in the vicinity of Delhi and in couple of years’ time, this area will have a smooth connectivity with Delhi”

More than 650 families are currently residing there while over 600 apartments are under construction in the Phase-II.
Manu Garg, Director, LandCraft Developers & VP, CREDAI-NCR.

The best part of buying a property in Raj Nagar Extension is that they are freehold in nature and they are having excellent infrastructural facilities in the close vicinity such as Railway Station, Bus Stand, Educational Hubs like DPS, GD Goenka International School and various Engineering and Management Colleges.
Pankaj Kumar Jain, Director, K World.

All this at the competitive price of Rs 25 Lakh for 2 BHK apartments makes Raj Nagar Extension an attractive option for buyers to invest in. With these offerings, the residential hub has tried to bridge the demand supply gap that currently exists for affordable housing across income groups in the housing sector.
Gaurav Gupta, Joint Secretary, Rajnagar Extension Association.