More land development near NH58
Just back after a 2.5 hour drive to a new area which is being developed. Its near NH58. If you are coming from Delhi and going towards GZB towards Anand Vihar, Dabur, Vaishali, Vasundhara or from the Shahadara side then you hit Mohan Nagar (yeah, of Mohan Meakins fame). From Mohan Nagar, drive towards GZB and you will hit Hindon, cross the river and look for a exit on the left. Its a kuccha road, sustain the drive for 7 odd KMs and you would start to see the development work.
This kuccha road is billed as the swanky 6 lane expressway which will connect to NH58, the road that leads to Roorkee and then to Haridwar. It will take a while to get this work done but once thats done, you would be able to avoid a better part of GZB. Currently there is nothing much in this area, some villages, couple of re-hab colonies and an Ashram here or there or few nurseries.
Some of the builders are Garg builders (River Heights), KDP Infrastrutre, Grand Savana from someone, Ashiana etc. There is no big builder of repute (ATS, Supertech, Unitech, Ansals, KrishnaApra etc) who is active as of now. The quoted price is Rs 1750 per sq feet. I guess if you go with the money in your pocket, you should get it for Rs 1500 and withs other goodies thrown in like Free Parking etc.
Does it make sense to buy – Well, it depends on your risk appetite. My personal safe recommendation to first time house buyers would be to avoid this place for some time. It might be worth buying the same flat for 1800 per Sq Feet, 6 months from now if that means more clarity, bigger builders or simple more peace of mind. But if you have a house and if you are not in too much of loan then do evaluate it. I still think that the big realty boom is yet to happen, so if you have got some spare cash, then go and take a look yourself. You might get rich 🙂