HINDON AIRPORT AND THE housing micromarkets of Ghaziabad!

Created on 31.03.2019 18:15:45
HINDON AIRPORT AND THE housing micromarkets of Ghaziabad!

Prime Minister Narendra Modi recently inaugurated the new civil enclave at the Hindon Air Base in Ghaziabad, from where commercial regional flights will operate to various places including Kanpur, Shimla, and Nashik.

This is the second airport in the Delhi NCR after the IGI airport which, apart from easing the air traffic, will also boost the real estate market in and around Ghaziabad.

xperts say that commercial flights from Hindon airport improve connectivity, which happens to be one of the key ingredients of economic development.

“This is expected to translate into better sales velocity for residential projects in micromarkets like Indirapuram, Vaishali, Vasundhara, Kaushambi, and Raj Nagar Extension, in the short run (2-3 years). Over a span of 5 years, with better sales velocity, the region and specific established micromarkets may also see better appreciation, compared to similar micromarkets elsewhere in the NCR,”

Ashutosh Kashyap, GM (consulting services) at Colliers International India, said.

Dhiraj Jain, director of Mahagun Group, says: “Almost every pocket in a 10-15km radius will see an upward trend in the last half of the next financial year. The closer the area, the higher will be appreciation and price rise. It will boost the market in these areas and unsold inventory will see buyers in the short term, leading to high demand across segments.”

“Connectivity plays a major role in the development of any area and Ghaziabad is going through a phase where it is on the road to better connectivity not only to neighbouring cities, but also to the other parts of the country. This will reflect in the prices of the areas around the airport,”

Pradeep Aggarwal, chairman and founder of Signature Global and chairman of the National Council on Affordable Housing, Assocham, said.

Vikas Bhasin, CMD of Saya Homes, says that livability of the areas will improve with the airport and hence an impact on prices.

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