Vasundhara and Vaishali: Emerging realty hubs

Published: 16th February 2010
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Of late, Vasundhara and Vaishali are focus of massive real estate construction, not least due to entry of Metro line in the locality, and this has inevitably led to an increase in demand. Bricks Research does a race

Vasundhara is emerging as a holistic realty hub, developed by Uttar Pradesh Housing and Development Board (also known as Awas Vikas). Its strategic location and proximity to Delhi and Noida have been acting as major drivers leading to development. The place is witnessing extensive construction activity by local builders as well as leading developers. The locality offers ready-to-move-in apartments at affordable prices, compared to Delhi and Noida. Most people working in Noida and Delhi prefer to stay in Vasundhara because of low 'per sq ft' values and its connectivity.

Vaishali is the other popular locality developed by Ghaziabad Development Authority (GDA). With Metro line slated to enter the locality, property prospects are quite high, local realtors say.

Residential sector:

Residential segment is on the upswing and there are many multistory apartments under construction. The area is home to educational institutions like Amity International School, Mewar Institute of Law, Jaipuria Institute of Management, Indraprastha Engineering College and Delhi Public School.

According to Brix Research Value Analysis Report - North India, Issue 3, both Vasundhara and Vaishali saw a stable market beginning April 2009. Continuing on revival path, property markets of both these localities in Ghaziabad, witnessed positive value trends across categories during the last quarter. The soon-to-be released Brix Research Value Analysis Report - North India, Isuue-4, reveals that during the Oct-Dec 2009 period, Vaishali and Vasundhara registered appreciating apartment capital values and stable rental values. Builder floors saw a drop in demand and values during the same period.

Commercial sector

In commercial segment, Vaishali and Vasundhara have a number of completed and ongoing projects.

It was found that demand is increasing in commercial sector and once the projects under construction get completed and occupied, there will be further escalation in commercial values, according to Umesh Sharma, a local realtor.

Commercial sector of Vasundhara and Vaishali witnessed stable office space values in the last quarter. However, capital and rental values of retail space in Vaishali saw positive trends.

Shopprix Mall and Ansal Plaza are two popular malls in Vaishali. Ansal Plaza, in particular, is popular for factory outlet showrooms. The area has many local shopping complexes to cater to daily needs of residents.

Projects in pipeline

Renowned developers are coming up with residential as well as commercial projects in Vasundhara and Vaishali. Impressions, a residential project named by SG Estate Ltd is strategically located in Vasundhara, on a three side corner location. It includes luxurious 2- and 3-bedroom apartments and penthouses, deluxe specifications, large balconies, modular kitchens and designer bathrooms.

Other amenities include swimming pool, yoga centre, jogging track with seating spaces, landscaped central garden dotted with flowering plants, earthquake-resistant structures, high-speed elevators and lifts, cable and internet connectivity, adequate power backup, among others. Ajnara India Ltd has launched Ajnara Pride in Sector 4B Vasundhara. It offers 2- and 3-bedroom apartments in the price range of Rs 38 lakh to Rs 54 lakh.

In commercial segment, Alpha Corporate Tower is the new showpiece coming up in Vasundhara, which offers dedicated office space ranging from 600 sq ft to 6,000 sq ft. It will cater to the adjoining areas of Vaishali, Indirapuram as well. It is equipped with facilities like car parking, in-house cafeteria and health club, waiting lounge, power backup and other such services.

Outlook

Ghaziabad is developing fast and there are many residential, commercial and infrastructure developments taking place in the city. Indirapuram, Vaishali, Kaushambi, Vasundhara are some of the preferred localities in the city. While Indirapuram tops the list, Vaishali and Vasundhara come a close second on the preference list of buyers.

Compared to Vasundhara, Vaishali is seeing more development on real estate front. And, its proximity to Anand Vihar ISBT and Noida are add-ons for Vaishali. Although, there are new projects being launched in Vasundhara, the demand is not so significant. According to Ravinder Kumar, a city-based realtor, "The proposed Metro line to Vaishali has boosted real estate prospects in the area. Vasundhara, on the other hand, is not witnessing any significant developments on real estate front. Indirapuram and Vaishali are the preferred locations in Ghaziabad." "However, since Vasundhara is close to Vaishali, it is likely to benefit from the Metro line, by default," says Kumar.



Courtesy: - Times Property DT: - 06-02-2009



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