Rising Property Demand Shifts Focus to South Ghaziabad

The real estate market in South Ghaziabad is witnessing a strong revival as the region benefits from the sharp rise in property prices across NCR. Magicbricks’ latest report reveals that residential demand in South Ghaziabad surged by 16.2% quarter-on-quarter (QoQ) between July and September 2024. This trend comes as property prices across key NCR cities—Delhi, Noida, Gurugram, and Greater Noida—continue to climb, pushing buyers and investors towards more affordable yet promising locations.

Price Trends Across NCR Signal a Boom

In Q3 2024, residential prices in Delhi grew by 4.5% QoQ to INR 18,012 per square foot (psf). Meanwhile, Noida saw a staggering 16.9% QoQ price rise, reaching INR 11,625 psf. Gurugram wasn’t far behind, reporting a 15.5% increase to INR 14,650 psf. Greater Noida, though relatively more affordable at INR 7,752 psf, has seen a dramatic 40% rise in prices over the past two years.

Amidst these surging prices, South Ghaziabad stands out as an emerging real estate hub offering both affordability and growth potential. According to Magicbricks, the region experienced capital growth of 19% year-on-year (YoY) in Q3 2024, with the average property price now at INR 6,683 psf.

Wave City and Siddharth Vihar: Investment Hotspots

Wave City, located within South Ghaziabad, has led the real estate boom with an impressive 68.1% YoY rise in capital value. The area’s average residential price now stands at INR 7,381 psf. In parallel, rental rates in Wave City have jumped over 50% YoY, making it an attractive investment destination for both homebuyers and landlords.

Similarly, Siddharth Vihar has emerged as another key area of interest, witnessing a 22.9% rise in property prices over the past year. The current average rate in Siddharth Vihar stands at INR 6,479 psf, while rents in the locality grew by 16.6% YoY, driven by rising demand for residential space.

Infrastructure and Connectivity Boost Demand

The upward trend in South Ghaziabad’s real estate is also reflected in rental growth. The average monthly rental rate increased from INR 15.1 psf in Q2 2023 to INR 18.6 psf in Q2 2024. Experts attribute this rental surge to ongoing infrastructure developments, improved connectivity, and the region’s proximity to educational institutions and industrial zones.

Lucrative Investment Opportunity Amid Rising Rents

As demand rises, rental values in South Ghaziabad have surged by 23% YoY, solidifying the region’s reputation as a profitable rental market. Investors are increasingly drawn to the area, thanks to its balance of affordability and potential for high returns.

With the broader NCR property market becoming increasingly expensive, South Ghaziabad offers a compelling alternative for those seeking long-term value and rental income. As infrastructure projects progress and demand rises, the region is poised to become one of the most attractive real estate investment destinations in the NCR.

South Ghaziabad’s steady growth trajectory underscores its emergence as a real estate powerhouse, making it a prime choice for investors looking to capitalize on NCR’s booming property market without compromising on affordability.