Top reasons why investing in properties along the NH 24 is a good idea

When you think of your home, what are the most important things that come to your mind? Is it a calm ambience or vicinity to your workplace so that you can reach home as soon as you can? Is it luxury or convenience of easy access to essential amenities, such as hospitals, pharmacies, grocery stores, schools, etc.? Wouldn’t you want it all? Of course you would, and that is exactly what you get with an NH 24 Ghaziabad property!

Why Ghaziabad?

Ghaziabad, particularly the area around NH 24, is not just strategically located, but also has other plus points, such as a green environment, hassle-free transport, easy access to entertainment, as well as essential amenities, educational institutions, or medical centers, and above all, it offers all of this at very affordable rates.

Ghaziabad is one of the most popular cities in the Delhi NCR region for the fact that it offers a great standard of living to its residents without being as expensive as Delhi or Noida. Here are some reasons that will reaffirm to you that your decision to invest in a residential property in Ghaziabad around the NH 24 is the right decision.

Reasons that make NH 24 area in Ghaziabad an ideal residential location

Location is the primary reason for the growing popularity of the NH 24 Ghaziabad region. The Grand Trunk (GT) road offers easy connectivity to Delhi. With commercialization of Noida and Gurgaon, the Ghaziabad region is particularly experiencing a growth spurt, as there is an increased demand for residential plots and apartments.

The 14-lane expressway from Delhi to Meerut is planned to go via NH 24. This has further increased the value of this region, which implies that your investment can now offer exceptional returns in the future.

Though the region is experiencing rapid infrastructural development, the price of the real estate properties here is still lower when compared to other areas of Delhi NCR.

Apart from the above, real estate market experts claim that the proposed Metro network connectivity is an important aspect to consider for investing in the NH 24 Ghaziabad region. If you are looking for a property in North India that will give you high returns, you can definitely bet on an NH 24 Ghaziabad property!

4 things to look out for in a real estate appraiser

To carry out successful real estate property transactions, you might need the assistance of appraisal services. Real estate dealings are a maze of legal terminologies and rules, and to understand them, you will require a professional appraiser. The aspects that an appraiser considers when evaluating property differ from area to area, but they usually take into comparison the prices of the same kinds of properties that have been sold over the past few months, as well as consider the proximity of the basic amenities to the property. But before you hire an appraiser, here are some crucial things to take into consideration:

Trust

Make sure that the company you hire is trustworthy. You can check the response time in which the organization answers clients when a question arises on a specific order. You should also be looking into how they complete their technical reviews as well. The company you choose should be efficient enough to maintain a high level of services throughout the appraisal process. Check the company’s reviews and testimonials that have been written by former clients. All this will give you a better idea about the company.

Responsibility

The appraisal company you hire should be a responsible one. They should have an adequate number of professional appraisers on their team. Check if they are regular in providing the clients with updates on the appraisal. A responsible company provides the clients with real-time status updates. The follow-up conveys the message that you are important to the organization, building a strong connection between the company and the client. Renowned and well-known appraisers like the Uppal Chadha Group are known to carry out all the appraisals in a responsible and a timely manner.

Confidentiality

When hiring an appraisal company, confirm that they follow all the pertinent laws and ethics while handling appraisals. The company should also keep the client’s information and appraisal confidential. If the company is not trustworthy, they could jeopardize the real estate deal that might be hinging on the appraisal.

Professionalism

An appraisal company should maintain a professional attitude. When you walk into their office, it should give a vibe of professionalism. Well-known appraisers like the Uppal Chadha Group operate with a professional approach when dealing with their clients.

Just keep these 4 things in mind when hiring an appraiser and you can be confident of receiving efficient services that will meet the valuation requirements in a satisfactory manner.

Brief guide to PMAY

Owning a home is a dream cherished by most Indians. But due high prices, the dream seldom becomes a reality for many, except for those who decide to avail a home loan. The eligibility for home loans depends on the income level of the individual. This makes it difficult for self-employed or low salaried individuals to get a home loan from NBFCs or even banks.

To ensure that every Indian gets an affordable housing solution, the central government has launched the Pradhan Mantri Awas Yojana. Under this scheme, individuals are to be provided with subsidized home loans for the construction of a dwelling or for the extension of it. Here is a brief description of the scheme to help you understand it better.

What is PMAY?

The Pradhan Mantri Awas Yojna (PMAY) was launched in 2015 by the NDA government with an aim to make “Housing for All” a reality by the year 2022. The houses to be constructed under the scheme are to be pucca houses with sanitation, water facility, and round the clock electrical supply . Originally meant for people belonging to EWS (Economically Weaker Section) and LIG (Lower Income Group), the scheme has been extended to include individuals from MIG (Middle Income Group) as well.

The scheme has laid down various criteria for the individuals that are covered under it.

Who is a beneficiary? 

• A beneficiary under the scheme has been defined as a family comprising of a husband, wife, and unmarried children. The beneficiary should also not own a pucca house either in their name or in the name of any of the family members, in any part of India, and should meet the income criteria.

Income norms under PMAY are:

• For Economically Weaker Section (EWS), the household income should be up to Rs. 3 lakh.
• The income limit for Lower Income Group (LIG) is between Rs. 3 lakh and Rs. 6 lakh.
• Middle Income Group (MIG) comprises of people who have an annual income between Rs. 6 lakh and Rs. 18 lakh. They are also eligible for interest subsidy under the scheme.

 Size of the dwelling area

• For EWS and the LIG, the limit is of 30 square meters. This will apply for the municipal limit of the 4 metropolitan cities.
• For MIG I, the limit is 120 square meters and for MIG II category, it is 150 square meters.

Interest Subsidy 

• MIG beneficiaries with an annual income in the bracket of Rs. 6 lakh to Rs. 12 lakh get an interest subsidy of 4 percent on a 20 year loan of Rs. 9 lakh. For those whose annual income exceeds Rs. 12 lakh would get a subsidy of 3 percent.
• For EWS and LIG households with annual income not exceeding Rs. 6 lakh, the interest subsidy would be 6.5 percent.

The information given above basically covers what the PMAY scheme is all about and should clear any confusion that you might have.

Ghaziabad: Making Waves in the Home Realty Market

The NH 24 connects Ghaziabad to Delhi, and this highway is being widened to ensure easy access to the city. As a result, many residential projects have cropped up in Ghaziabad to offer prospective homebuyers a wide choice. The residential property market has become highly sought-after in the city and there are many reasons for this.

Properties in All Categories

Whether it is 3 or 2 BHK flats in Ghaziabad, or even plots, potential buyers will not be disappointed with the choices offered. There is a plethora of options to select from, based on the buyer’s needs and budget. So, if you are looking to purchase a home in the city of Ghaziabad, you will be able to find something that suits your requirements.

According to the latest reports, there is a huge demand in the affordable and mid-segment, and developers are responding to it. Nearly 66 per cent of the properties are categorized as affordable, followed by the mid-segment, and finally the luxury segment.

Even affordable and mid-segment homes are renowned for being built with superior infrastructure and amenities, though some come with basic amenities. Nonetheless, this affordability has increased the attraction of the city.

Good Return on Investment

Another reason for people to head to Ghaziabad and purchase an apartment is the return on investment. The rental property market in the city is also booming, thanks to the numerous industries and businesses. As a result, homeowners can get attractive returns on their investment.

The chances of a property staying vacant are very low, especially if the apartment or home is located in a good area of the city, with great infrastructure and amenities.

Connectivity and Accessibility

One of the main reasons that Ghaziabad is highly coveted by those looking to purchase a home is the connectivity and easy accessibility to the rest of NCR. Ghaziabad offers direct access to Delhi and Noida, and with the metro link construction work underway, it will be easier and more convenient to commute to and from Noida.

The extension of the Delhi Metro to connect Dilshad Garden to the New Bus Stand, the Northern Peripheral Road, and the Hindon Elevated Road will also improve the connectivity and accessibility to and from Ghaziabad.