Raj Nagar Extension turning into Bottle-neck due to Mismatched Growth rate

Raj Nagar Extension is Ghaziabad’s rental capital. Majority of the projects on National Highway 58 in Ghaziabad are developed specifically to meet the rental demands. More than 24 well-established builder groups and developers have coalesced together to tap the opportunities of Raj Nagar Extension. In a bid to develop the corridor as a major transport hub, developers have already starting working on extending the boundaries of the already existing Raj Nagar area in Ghaziabad. Playing on the marketing strategy of offering ‘affordable’ homes, the rental market in Ghaziabad may well spiral out of control if the trend continues to feature only small-scale units.

Here’s a rundown on the trends and challenges that the rental market in Raj Nagar Extension is experiencing.

-          Limited 2 BHK and 3 BHK options

The major rental challenge in Ghaziabad is the lack of spacious home options. Most projects are developed with 1 BHK or 1 RK style. Some industrial units are pushing the market towards voluminous Studio apartments. The trend is likely to reverse in short time as leading building group Ajnara India Limited announced a mega project involving only 3 BHK units.

-          Quick possession raises doubts

In less than 2 year’s time, almost 9 projects have already been completed in Raj Nagar Extension. Rated as the cheapest real estate in Delhi and NCR, the locality is now home to over 3000 first-buyer families and over 4000 individual tenants. The mixture of family and bachelors make the area, mini-Noida. But the major hurdle is the way possessions are declared. Mot projects suffer from extensive lack of infrastructure, poor lighting systems, water failure and plumbing issues. Non-existent societies and lack of connectivity with the main roads have turned some projects into garbage yards.

-          Big issues in commuting without solutions

Unless you have a vehicle of your own, commuting across Raj Nagar Extension towards Gurgaon, Delhi, Ghaziabad and Noida is extremely difficult. Despite being project as the next mega-transport corridor, the locality has fallen behind in terms of road connectivity and public transportation system. The proposed METRO line will take more than 3 years by current projections. The buyers who have rented their homes are facing the wrath from the tenants due to hurdles in travelling. Women and school kids are facing maximum troubles.

-          Rowing Pollution and loss of greenery

Built around the HINDON River basin, Raj Nagar Extension in Ghaziabad was a green belt jsut a couple of years ago. Today, it has turned into decadent pollution basin. Rents are moving up at the same price as the pollution levels. The ground water has dwindled by few units as well. Despite its proximity to Indirapuram and Vaishali, the water issues in Raj Nagar Extension may become more serious in coming days once permanent residents begin to occupy the units.

-          Very crowded on Weekends

Raj Nagar Extension is surrounded by other mid-scale housing localities like Sanjay Nagar, SehaniKhurdas and Vikas Nagar. On weekends, the area becomes very crowded despite having wide-spread roads and parking spaces.