Located 70 KMS from the national
capital of Delhi, is the city known for its manufacturing of sports goods,
scissors and handloom. But it’s the manufacturing of cricket goods which has
put Meerut on the world map. This bustling business city has attracted the
attention of builders and investors alike, especially due to its proximity to
Delhi. The city is witnessing an unprecedented boom in real estate with almost
all major builders starting a project here. As the business develops and as the
property in Delhi becomes super expensive, its outskirt towns like Meerut which
will benefit and that is exactly what’s happening.
Before it became a darling with
the realtors, Meerut was an old rickety sleepy town which relied mostly on its
small and medium manufacturing units. As the game of cricket and the demand for
goods made in Meerut became popular, the city started to witness a change in
the social fabric too. The real estate boom in nearby
satellite towns of Noida and Ghaziabad saw people realising the potential of
real estate here too. As the market in these towns was exploited to its
potential, the builders and investors started looking elsewhere to make huge
profits which they were use to till now.
The search led them to this
bustling yet unexplored town of Meerut. Its proximity to the national capital
and its vast land mass outside the city which was available at throw away
prices was the most driving factor. Real estate companies bought huge land
parcels on the outskirts of the old city and suddenly the face of the city
started changing. The builders introduced the populace to the apartment culture
which was pretty unheard of till then. Meerut properties got in demand due to
the push by the builders, who were able to sell the plots and apartments at
cheaper rates to the investors from Delhi.
As the ball set rolling, the
properties for sale in Meerut saw a demand from the residents too, who got
attracted to the new realty developments. The city had money due to its
business class, but had nowhere to spend. This fact was taken care of the
prying eyes of the builders who grabbed this opportunity with both hands. In
came the malls and the retail and entertainment zones, which brought the city
at par with the other Tier 2 towns. People got used to the lifestyle and the
outskirts soon became a part of the city itself.
Pro government approach also
helped the properties in Meerut to reach the height they are today. The
National Highway 58, which connects Meerut to Delhi, is being expanded. The
Meerut Delhi corridor is being actively worked upon, which will reduce the
commutation timing from Delhi to Meerut to just 45 minutes. Besides, Meerut is
also on the list for rapid transport link which will connect it via rail with
Delhi through Anand Vihar and Kaushambi.
This corridor has further
increased the land rates especially around the bypass area. Builders like DLF,
Supertech, Omaxe, Jaypee Greens and Ansals API have
started projects here and have got a good response. Prices have already
escalated in Meerut and a decent 2 BHK flat can cost you somewhere around 30
lakhs. But still Meerut is a good investment option as it is being rated high
on vibrancy and financial penetration index by many research companies.
The crime graph has been
declining since active steps taken by the government. The standard of living
has improved and is at par with any growing town of the country. Hence the
relatively low property prices along with the expectancy of further
acceleration of price graph due to these factors is a sure shot mantra for good
returns.
