Situated in the upper Gangetic plains, Ghaziabad is sometimes referred to as the gateway to UP due to its proximity to Delhi. It is a part of the National Capital Region of Delhi and the boundary is adjacent to the national capital, making it a significant commuter town. However, there is more to this satellite city than meets the eye, it is a primary commercial, industrial and educational centre of western Uttar Pradesh, apart from being a major railway junction in Northern India. With all-round infrastructural development and connectivity, low cost housing are an important part of this growth agenda for Ghaziabad. Further, major part of this commuter town's attraction lies in its commercial growth.
The upcoming residential corridors in Ghaziabad are spread across Raj Nagar extension with several local developers announcing their capital ventures. Widening the NH 24 to a 14 lane area is expected to further boost the realty sector of Ghaziabad.
Apart from residential developments, its micro markets are also increasingly becoming important commercial belts. Unskilled professionals from neighbouring cities who are looking to shift base to developing cities are aiding the industrial sector to flourish.
Healthcare facilities include the Columbia Asia Hospital, while educational institutes like Ryan International School, IMS Ghaziabad and others are present. This, in turn, increases the demand for affordable housing in Ghaziabad. Furthermore, the core demand is likely to emanate from the low and middle-income population for the residential offerings in this corridor.
Ghaziabad Development Authority (GDA) has signed an MoU with the Delhi Metro Rail Corporation for extending the Metro line from Dilshad Garden upto New Bus Stand, Ghaziabad, and the work on this has already begun.
GDA will be shelling out Rs 2,870 crore towards different infrastructure projects in 2017. Widening roads, underpasses and other infrastructure development are being executed in a bid to untangle movement of traffic and improve the commuting process. Work is also going on to connect NH 24 with NH 58. Furthermore work on other Metro lines is in progress, including Vaishali to Mohan Nagar and from Noida sector 62 to Kanawani, Indirapuram.
The National Capital Region Planning Board (NCRPB) had earlier decided to provide a total loan assistance of Rs 3,113 crore for nine transport infrastructure projects. The projects include six-lane elevated road in Ghaziabad and NoidaGreater, Noida metro projects and the Faridabad-Noida-Ghaziabad (FNG) corridor.
For development of six-lane elevated road in Ghaziabad, the NCRPB is providing a loan of Rs 700 crore. The board will also finance the 29.7 km long Rs 5,533 crore NoidaGreater Noida Metro Project with a loan assistance of Rs 1,587 cr. The under-construction FNG Expressway will improve connectivity between Noida and Ghaziabad.
Being a satellite city to the Capital, Ghaziabad is being seen as the next cheaper alternative and the potential business destination of India where investment in offices, shopping malls, and entertainment centers will change structure of the city in the long term.
The shifting in business and commercial units from Noida to the cheaper rental rates of Ghaziabad has steadily been attracting more job opportunities. With the coming up of the corridors the industrial demand and trade as well as investments will increase the demand for real estate leading to an overall development of Ghaziabad.