Ghaziabad Witnesses 14% Surge in Housing Supply Amid NCR Boom

Ghaziabad Experiences Steady Housing Supply Growth in NCR's Development Wave

Ghaziabad real estate market reported a 14% increase in housing supply from 2019 to September 2024, contributing to the broader surge in the National Capital Region (NCR). This growth, highlighted in PropEquity’s latest analysis, aligns with NCR’s overall infrastructure transformation and heightened developer activity despite regional absorption challenges.

Infrastructure Engines Driving the NCR Boom

The region’s housing market is driven by major connectivity projects:

• Delhi-Meerut Expressway (DME): Reduce travel time to Delhi and Noida to 45 minutes, boosting Ghaziabad’s appeal.
• Rapid Rail Transit System (RRTS): Links Meerut-Delhi and Ghaziabad
• Expanded Metro Networks: Enhances access to commercial hubs, and neighboring cities These developments have made Ghaziabad an attractive choice for homebuyers seeking with IoT-enabled features.

Supply Surpasses Demand in Ghaziabad

While supply rose, absorption declined 31% – a trend common to Noida and Greater Noida but sharply contrasting with Gurugram’s 157% absorption surge. This imbalance suggests developers are capitalizing on infrastructure potential despite temporary demand slackness.

Luxury Emergence and Developer Shift

Ghaziabad’s transformation into a luxury hotspot is evident through:

1. Siddharth Vihar: Becoming a prime location for integrated communities with high-end amenities
2. Wave City & Raj Nagar Extension: Seeing premium projects targeting upwardly mobile professionals
3. Developer Momentum: Branded builders like Migsun Group and Prateek Group launching aspirational lifestyle projects

‘Ghaziabad offers unmatched value through superior connectivity and planned infrastructure’ – Yash Miglani, Managing Director, Migsun Group.

NCR-Wide Market Context

Ghaziabad’s performance fits NCR’s broader narrative of 137% price growth since 2019, with Gurugram leading at +135% and Greater Noida at +121%. Stalled projects – a lingering issue in Noida (103) and Ghaziabad (50) – have seen reductions from UP government interventions.

Outlook: Infrastructure Continues Shaping Demand

The region’s future remains tied to:

• Noida International Airport: Expected to spur connectivity-linked demand
• Dwarka Expressway: Strengthening Gurugram’s position but indirectly benefiting Ghaziabad
• RERA Compliance: Ensuring timely project deliveries and restored buyer trust

Developers anticipate sustained supply gains as infrastructure completion aligns with market cycles. Ghaziabad’s strategic position as an affordable luxury alternative positions it to capitalize on NCR’s northward expansion trends.