Page 58 - Construction_Opportunities_December_2024

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CONSTRUCTION India’s luxury real estate market is seeing an influx of affluent sentiments through our projects that resonate with the aspirations
GHAZIABAD EMERGES AS NCR’S NEW LUXURY
DESTINATION; THE REGION SEES INCREASE IN NEW
of today’s discerning homeowners and investors.”
LAUNCHES OF LUXURY PROJECTS
Sanjay Sharma, Director, SKA Group, says, “Ghaziabad is
transforming into a key hub for luxury housing in the NCR, driven
buyers driven by growing demand for high-end properties. With
by its superior connectivity, well-planned infrastructure, and
renewed investor confidence, strong homeownership sentiments,
value-for-money offerings. The city is perfectly positioned close
to NH 24, catering to the aspirations of
increasing infrastructure development, and the rising cost of land
and construction. According to PropEquity, NCR has seen an
residences at competitive prices. Notably,
increase of 137% in housing prices of new residential projects.
The report highlighted Ghaziabad contributing 139% between modern homebuyers looking for premium
Wave City, situated along the Delhi-Meerut
2019 and September 2024. The area saw an increase of 14% on Expressway, offers the best connectivity in
the housing supply front. the Delhi-NCR region. Since the potential
As more upscale projects are launched in Ghaziabad, the for appreciation and quality of living here is
city has become an attractive proposition for those seeking a unmatched for investors and homeowners,
blend of modernity, tranquility, and convenience. Among its key we look forward to contributing to the region, making it an ideal
neighborhoods, Siddharth Vihar stands out as one of the leading choice for long-term investments in the real estate market.”
real estate locations, drawing the attention of developers and As more high-end developments from renowned developers
buyers. Known for its meticulously planned infrastructure and well- continue to shape the landscape, Ghaziabad is poised for
executed urban development, Siddharth Vihar has become a top significant growth in the luxury housing sector. The city’s blend
choice for those who desire spacious, high-quality residences and of modernity, accessibility, and competitive pricing positions it
modern amenities. as a key market for real estate investors, developers, and luxury
One of the main factors driving the area’s appeal is its strategic homebuyers. With this momentum, Ghaziabad is set to continue
location. Situated close to NH-24 and the Delhi-Meerut Expressway, attracting significant attention, making it an exciting hub for
Siddharth Vihar offers seamless connectivity to key parts of Delhi upscale residential opportunities in the future.
and Noida, making it an ideal destination for professionals and
families who need easy access to major commercial and business WELSPUN ONE COMMITS `2,700 CRORE TO
hubs. Key projects like the FNG Expressway, RRTS, and expanded WAREHOUSING PARK AT JNPA SEZ.
metro connectivity with Noida and Delhi have drastically improved Welspun One Logistics Parks has announced a `2,700-crore
the city’s accessibility to major key locations. investment in a 4.45-million-sq-ft warehousing and industrial park
Yash Miglani, Managing Director, Migsun Group, says, “The at the Jawaharlal Nehru Port Authority (JNPA) Special Economic
luxury housing market in Ghaziabad is undergoing a shift, Zone (SEZ) in Navi Mumbai. This expansion significantly surpasses
offering a combination of premium living its original plan of a 1.2-million-sq-ft facility with an investment of
and unmatchable connectivity. The city is `700 crore, reflecting growing export-import demand at India’s
attracting new-age buyers who prioritize the busiest container port.
quality of life that comes with integrated The project will include 3.95 million sq ft of warehousing space,
communities and modern amenities. Thus, 2.5 lakh sq ft of Grade-A office space, and an additional 2.5 lakh
we view this opportunity to craft and offer sq ft of industrial space. With an annual throughput capacity of
lifestyle-driven projects to buyers seeking 36,000 TEUs, Welspun One claims the facility is the largest of its
aspirational living.” kind in the country. Strategically located within 5 km of JNPA’s
Other locations, like Raj Nagar Extension and Wave City in port terminals, the park offers direct vessel access and proximity
Ghaziabad, are also witnessing healthy demand for luxury to key infrastructure such as the Mumbai Trans Harbour Link,
homes. They are gaining traction for their upscale properties, National Highways, the Dedicated Freight Corridor (West), and
excellent connectivity, and access to commercial zones, making the upcoming Navi Mumbai Airport. The facility is designed for
them prime choices for luxury living in NCR. Hence, renowned efficiency, featuring three floors with 12-meter floor-to-floor height,
developers have launched several high-end residential projects 30-ft-wide ramps for smooth cargo flow, six-tonne floor load
in these areas, recognizing the potential of Ghaziabad. capacity, over four lakh pallet positions, and parking for more
Prateek Tiwari, Managing Director, Prateek Group, says, “The than 600 trucks. Welspun One highlighted the park’s potential
current market sentiment in Ghaziabad reflects a growing to serve diverse sectors such as chemicals, automotive, FMCG,
preference for luxury homes, driven pharmaceuticals, and electronics, offering integrated logistics
by evolving lifestyle expectations. With solutions that improve operational efficiency and cut costs by
enhanced connectivity and rapid up to 15%. Businesses operating within the SEZ can also benefit
infrastructural development, areas like from GST exemptions, customs duty deferment, faster customs
Siddharth Vihar are gaining prominence as clearance, and reduced detention or demurrage risks.
a hub for premium real estate. As buyers The project is expected to generate over 5,000 direct and indirect
are increasingly looking for integrated living jobs. Welspun One recently raised `2,275 crore through one of
experiences that combine convenience, its funds, with 70% of the amount already committed and 45%
exclusivity, and modern amenities, we aim to align with these drawn down.

58 CONSTRUCTION OPPORTUNITIES|DECEMBER 2024