Meerut Property

Meerut is situated just about 71 kilometers away from the national capital New Delhi, and it is said to possess an estimated population of nearly 4 millions. The Meerut real estate industry is all set to observe a considerable boom with many major builders and developers including MSX Developers, Supertech Group, Majestic Properties, Antriksh, Era Group, DLF, Parsvanath, Omaxe, and the likes of them, preparing to launch their latest projects here.

Low real-estate rates, availability of huge land pieces, and also government motivations for improvement in many Tier-I and Tier-II metropolitan cities in India have actually stimulated a Meerut Chalo society to be formed during last year.

The steady rise in Meerut property rates along with many connectivity projects in the channel connecting Meerut to the major built-up regions of NCR areas including Noida, Palam Vihar, Kaushambi, Indirapuram, Gurgaon and Vaishali in the past few years, have compelled many real estate builders to find the best spots in the Meerut city, in order to initiate their new forthcoming projects. And, these are precisely the spots that you should also be looking at, if you’re interested in investing in Meerut real estate markets, and cashing in some serious profits.

The Supertech Group believes that the city’s close proximity to New Delhi will certainly prove to be a great advantage, and it will offer lot of convenience to attract the attentions of the big investors. The official sanction of superhighway via Ghaziabad has changed a lot of things in the Meerut real estate market. Upon construction, this superhighway is likely to decrease the journey time between the 2 cities to just 45 minutes, and offer further momentum to the growth of Meerut.

As confirmed by elementary economics, the city has already started witnessing a boom in property rates due to the entry of ample number of major realty firms that are interested to buy land and bring up mammoth apartments.

A major part of this huge town is greatly crowded and polluted with problems of infrastructure and high crime rates. So, there is a huge demand for quality housing solutions on the fringes, with sound planning, good infrastructure and top grade security.

The mostly preferential places are located along the city bypass. The Cantonment road and Hapur road, which guide to Roorkee, are also quite successful in drawing huge number of development projects.

Recently, many residential and commercial complexes are being constructed on Mawana road and Modipuram. The local demand for Meerut property is less when compared to Delhi NCR region, but now everything looks better day by day, as many new residential townships are coming up.

Property Prices in Meerut

Individuals with high disposable earnings are now getting conscious about their way of life, which has added to the boom in Meerut real estate markets. The property prices in this part of India have witnessed a hike of almost 70 percent in the past couple of years. Commercial properties have observed almost vertical price hike when compared to the residential properties prices in the city.

The main reason for the increase in the Meerut property rates is the healthy competition amongst the major realty developers from Delhi, and the prices are expected to grow even higher in the forthcoming years.

In just a span of 1 year, the real estate property price has increased from Rs. 2.2K per Square Yard to almost Rs. 5K per Square Yard in some of the areas in the Meerut realty sector.

The most preferable commercial areas in the city are Abu Lane, Sarafa Bazaar, Begampul and National Highway (bypass). The approximate commercial property prices of all these areas are summarized below -

Abu Lane – Rs 25K per sq mtr. (Old), and Rs. 33K per sq mtr. (relatively new)
Begampul – Rs 24.2K per sq mtr. (Old), and Rs. 30.3K per sq mtr. (relatively new)
Sarafa Bazaar – Rs. 23.5K per sq mtr. (Old), and Rs. 30K per sq mtr. (relatively new)
National Highway (bypass) – Rs. 33L per hectare of land (Old), and Rs. 43L per hectare of land (relatively new)

With many new developmental projects that are expected to come into light in the near future, the 6th biggest city in Uttar Pradesh- Meerut- can be considered a hotspot for making huge investments and reaping high ROI.