A few days back I had mentioned Raj Nagar Extension (RNE), NH 58 in Ghaziabad as a budget investment opportunity. Here are some more details.
What buyers find good about Raj Nagar Extension?
- The prices here still on the lower side in NCR region. You can get 2BHK in Rs 22 – 30 Lakhs and 3 BHK below Rs 35 lakhs.
- As of date there are more than 32 thousand of residential units planned in Raj Nagar Ext. This is a huge township and so a good chance of development.
- Around 2,000 families have already shifted in the area and another 5,000 flats are estimated to be given possession in 2013.
- There are good schools already operating in and around the locality – DPS, G D Goenka and more.
- There are two big malls coming up in the area.
- There is proposed metro till Arthala, which is around 3 – 4 kms from Raj Nagar Extension.
- There is also a proposed Rapid Rail Transit System (RRTS) between New Delhi and Meerut which will have station a few kilometers away from RNE.
- The land here is free hold and till now there have been no major issues related to land acquisition.
What buyers don’t find good about Raj Nagar Extension?
- There is delay in approval from Ghaziabad Development Authority (GDA) for the new projects in RNE.
- There has been some dispute between GDA and RNE Builder association regarding common area and common facilities.