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A potential property boom is on the horizon.
These properties, part of the Uttar Pradesh Housing Development Council’s Mandola Vihar Scheme, are priced at nearly half of their market value.
If you’re eyeing real estate in the National Capital Region (NCR), Ghaziabad might be your best bet. The city is currently offering significant discounts on government flats, presenting a prime opportunity for prospective buyers. These properties, part of the Uttar Pradesh Housing Development Council’s Mandola Vihar Scheme, are priced at nearly half of their market value. However, a potential property boom is on the horizon. Here’s why you might want to consider investing now.
Attractive Discounts on Government Flats
The Uttar Pradesh Housing Development Council launched the Mandola Vihar Scheme, located near Delhi’s Sonia Vihar border, featuring a variety of one-, two-, three-, and four-bedroom flats. As of August 15, the scheme offers a 42% discount on these properties, with an additional 5% off for lump-sum payments made within 60 days. The scheme is open for registration until October 15. For more details, interested buyers can visit the Housing Development Council Property Office in Vasundhara or check the department’s website.
Reasons Behind the Expected Property Boom
The Mandola Vihar Scheme spans 2,700 acres and includes a total of 9,068 flats. To date, 4,839 flats have been sold, leaving 4,229 still available. The scheme’s location, adjacent to the under-construction Delhi-Dehradun Expressway, is poised for a significant boost in property value. Once the expressway opens, expected to be operational by September, it will reduce travel time from Akshardham to Mandola Vihar to just 15 minutes. This improvement in connectivity is anticipated to drive up property values rapidly.
Current Pricing Dynamics
Property expert Brijendra Chaudhary explains that the current lower property rates are due to the lengthy travel time required to reach Mandola Vihar from Delhi, which involves navigating through Loni Border and Shiv Vihar. However, with the new expressway nearing completion, the convenience of accessing Mandola Vihar will enhance, likely leading to a swift increase in property prices.
For those considering an investment, now may be the ideal time to purchase in Ghaziabad before the anticipated surge in property values.