The National Capital Region in India is the first experimented regions of India. The main aim of NCR concept was to build up an urban area keeping the nation’s capital, Delhi as its core. NCR spans over 33,578 sq kilometers and falls under the jurisdiction of four State Governments named, National Capital Territory of Delhi, Haryana, Uttar Pradesh, and Rajasthan. Today, NCR is a metropolitan area of Delhi compromising advanced areas like Noida, Faridabad, Ghaziabad, Bhiwadi, and Gurgaon. Better connectivity and enhanced infrastructure like new roads, metro rail, and flyovers have made the life of commuters much easier and hassle free.
NCR Real Estate Growth:
Today, NCR is one of the peak destinations for retail, commercial, and residential investments. The constructive factors that play an important role are as below.
1. Investment interest in NCR is quite strong
2. Builders, agents, and developers play a key role in the real estate industry
3. Construction of properties by leading and reputed real estate brands
4. Establishment of IT, BPOs, and MNCs
Krishna Vihar is witnessing a lot of development on the residential and commercial front with the emerging interests of various local and outstation real estate players. Because of the saturation in Delhi, people now wish to set foot in Ghaziabad in search of affordable and good properties. To satisfy the aspirations of house seekers, both local developers and those from New Delhi and other places are coming up with various residential projects in this region.
Residential Scenario in Krishna Vihar
There are two types of buyers in this locality, one section comprises young couples and families who aspire for a lavish, modern, and comfortable life, and the other consists of senior citizens who intend to live peacefully in a calming atmosphere. This is the prime reason why construction firms operating in this region are trying hard to provide all possible facilities to their target buyers. Lots of luxury and pleasure-oriented features are being used to attract customers.
For example, plush swimming pools, well-equipped gymnasiums with qualified trainers, table tennis court, adequate parking area, CCTV camera, lush green gardens, sitting area, clubs, projector facility, children’s play area with lot of extra co-curricular activities, and exclusive school bus-stops are some of the facilities that are commonly being provided.
Increasing Demand with Soaring Realty Rates
The appetite for modern living in Krishna Vihar is clearly evident from the mounting demand for residential properties. The high demand for housing is created mostly by NRIs, HNIs, and investors, besides local-end users. This pent-up demand is in turn fuelling property prices, which are going to give fruitful results in future as the resale value of properties in this locality will be extremely high. There are a lot of projects coming up in this area, like Prateek GRAND CITY and Prateek Grand Paeonia, by Prateek Group.
Mall and Restaurant Culture
Meanwhile, the inhabited boom has spawned mall culture and restaurants in Krishna Vihar and other surrounding areas. There is a total transformation of retail real estate in NCR which had only small shopping clusters till a few years back. Now, one can enjoy shopping in a mall where all famous national and international brands are made available. Following suit, more new shopping malls and restaurants are coming up that will completely change the face of retail real estate of Krishna Vihar, for good.