Ghaziabad Emerges as NCR’s New Luxury Destination; Region Sees Increase in Luxury Project Launches

November, 2024: India’s luxury real estate market is seeing an influx of affluent buyers driven by growing demand for high-end properties. According to PropEquity, NCR has seen an increase of 137% in housing prices of new residential projects. The report highlighted Ghaziabad contributing 139% between 2019 and September 2024. The area saw an increase of 14% on the housing supply front.  

As more upscale projects are launched in Ghaziabad, the city has become an attractive proposition for those seeking a blend of modernity, tranquillity, and convenience. Among its key neighbourhood, Siddharth Vihar stands out as one of the leading real estate locations, drawing the attention of developers and buyers

One of the main factors driving the area’s appeal is its strategic location. Situated close to NH-24 and the Delhi-Meerut Expressway, Siddharth Vihar offers seamless connectivity to key parts of Delhi and Noida, making it an ideal destination for professionals and families who need easy access to major commercial and business hubs. Key projects like the FNG Expressway, RRTS, and expanded metro connectivity with Noida and Delhi have drastically improved the city’s accessibility to major key locations.

Yash Miglani, Managing Director, of Migsun Group, says, “The luxury housing market in Ghaziabad is undergoing a shift, offering a combination of premium living and unmatchable connectivity. The city is attracting new-age buyers who prioritize the quality of life that comes with integrated communities and modern amenities. Thus, we view this opportunity to craft and offer lifestyle-driven projects to buyers seeking aspirational living.”

Other locations, like Raj Nagar Extension and Wave City in Ghaziabad, are also witnessing healthy demand for luxury homes. They are gaining traction for their upscale properties, excellent connectivity, and access to commercial zones, making them prime choices for luxury living in NCR. Hence, renowned developers have launched several high-end residential projects in these areas, recognizing the potential of Ghaziabad.

Prateek Tiwari, Managing Director, Prateek Group, says, “The current market sentiment in Ghaziabad reflects a growing preference for luxury homes, driven by evolving lifestyle expectations. With enhanced connectivity and rapid infrastructural development, areas like Siddharth Vihar are gaining prominence as a hub for premium real estate. As buyers are increasingly looking for integrated living experiences that combine convenience, exclusivity, and modern amenities, we aim to align with these sentiments through our projects that resonate with the aspirations of today’s discerning homeowners and investors.”

Sanjay Sharma, Director, SKA Group, says, “Ghaziabad is transforming into a key hub for luxury housing in the NCR, driven by its superior connectivity, well-planned infrastructure, and value-for-money offerings. The city is perfectly positioned close to NH 24, catering to the aspirations of modern homebuyers looking for premium residences at competitive prices. Notably, Wave City, situated along the Delhi-Meerut Expressway, offers the best connectivity in the Delhi-NCR region. Since the potential for appreciation and quality of living here is unmatched for investors and homeowners, we look forward to contributing to the region, making it an ideal choice for long-term investments in the real estate market.”

As more high-end developments from renowned developers continue to shape the landscape, Ghaziabad seems to be poised for significant growth in the luxury housing sector.