A home below Rs. 50 lakh?
It’s possible. Most projects located along major highways NH58, NH24 and the Yamuna Expressway offer options in this budgetrealestate Updated: Dec 19, 2013 16:07 IST
If you’re thinking of buying a house this festive season but have a fixed budget of Rs. 30 lakh to Rs. 50 lakh, we suggest you look at residential options along major highways such as NH58, NH24 and Yamuna Expressway.
Raj Nagar Extension, located along NH58 in Ghaziabad, offers 2BHK units of 1,000 sq ft for a price as low as Rs. 30 lakh, and a 3BHK unit of 1,400 sq ft starting at Rs. 42 lakh, depending on the location, the stage of completion of the project and the features. The area can be accessed within 20 minutes from the Delhi border. As many as 30,000 units are in different phases of construction, and over 3,000 residents have already moved into projects in this area.
Yamuna Expressway is a good long-term investment option for those wanting to invest in a small-ticket studio, a 2BHK or a 3BHK unit overlooking the proposed Singapore-style Night Safari park and zoo. It offers price points that suit all pockets. The area has great infrastructure and has already hosted two Formula One events. Plots over here are available from Rs. 25,000 per sq yard, and units in group housing projects are priced at Rs. 3,000 per sq ft.
The government also plans to develop an industrial zone here to encourage multiple IT companies to invest. The expressway leads to Agra, famous for its Taj Mahal, and the pilgrimage centre of Mathura. The Night Safari is also expected to boost real estate growth in the area.
Crossings Republik, located on NH24, is a full-fledged township with dozens of group housing projects catering to buyers from all walks of life. It was launched in December 2006 by a conglomerate of seven developers. It is an ideal place for anyone looking for a spacious 2BHK or 3BHK in the Rs. 50 lakh budget.
Out of the 25,000 flats planned, 15,000 are at present ready to be occupied. About 8,000 families have already taken possession of their flats and many more will be moving in, once all the facilities are up and running.
Other projects located on the stretch include Wave City by Wave Infratech, Golf Links by LandCraft Developers, Sushant Aquapolis by Ansal API, Mahagun Puram by Mahagun Group and Springview Heights by Sare Homes.
In Indirapuram too, buyers can look for ready-to-move-in options in many group housing projects in Shipra Sun City. A 2BHK in Shipra Sun City Nova is available within Rs. 50 lakh. Other projects like Arihant Harmony and Regalia Heights, also have 2 BHK flats available in this price range.