By : MANEESH PANDEY
GHAZIABAD: This isn’t yet as booming as the fringes of Gurgaon, but it’s happening. Call it the spiral effect of real estate boom in east Delhi, the near-doom prognosis for property in Ghaziabad - in areas like Indirapuram, Vasundhara, Kaushambi and Vaishali - has changed dramatically in the last six months.
“I sold off my flat in Gurgaon and bought a four-bedroom flat in Vasundhara for Rs 14.5 lakh last year. The current price is Rs 22 lakh and it is soaring every day,” said Vipul Singh, a lecturer in DU who lives in Patrakar Parisar housing society in Vasundhara.
It’s not only flats; rates of plots and commercial properties are also booming. “Compared with last year, the prices are almost 30 to 50 per cent more, depending on the location and proximity to Delhi,” said Sunit Sachar of Parsvanath Developers.
Property prices in east Delhi and Gurgaon have shot through the roof, making most of it out of reach for the middle class. So, they have found a refuge in adjoining areas like Indirapuram, Vaishali and Vasundhara, he said. There’s an element of speculation too (actually, without that prices don’t jump up like this).
Source : TIMES NEWS NETWORK