Property in Meerut

Meerut, 70 kms from New Delhi is spread in an area of 175 sq. km and is the second largest cantonment town of India. Attractions to Meerut properties are proximity to Delhi and affordable property rates vis a vis Delhi NCR rates. But on a futuristic perspective, Meerut properties are a safe bet given the prospect of its fast connectivity to Delhi via the 4 lane expressway between Mohan Nagar and Meerut bypass, in the pipeline. This will cut commuting time to Delhi at 40 minutes drive from Meerut. This express highway is expected to be complete in 2013 and will bypass Modi Nagar and Murad Nagar.

Another factor that will make Meerut property lucrative will be the plan of Uttar Pradesh government to pitch for an international airport in Meerut. Conceived as a public-private partnership project, the airport will cater to western UP and Uttarakhand.

The best part is that Meerut has plenty of land for development and many builders such as DLF, Ansals, MSX, Supertech, Omaxe etc are active here. Land closer to the major roads in Meerut is enjoying high demand from all builders. In residential property, Meerut Bypass Road is the hottest location closely followed by Hapur Road, Cantonment Road, Mawana Road and Modipuram.

Properties in main residential areas are seeing high demand. Meerut’s Colonies like Dhyanchand Sports Good Complex, Shatabdi Nagar Colony, Shradhapuri Phase, Shradhapuri Phase II, Defence Enclave, Pallavpuram, Ganganagar, Rakshapuram Colony, Dr Ram Manohar Lohiya Nagar, RS Abu Lane, Sarafa Bazaar and Begampul are at the top of the property charts.

An integrated township by Ansals named Sushant City is coming up in the city and Supertech’s Palm Greens is a residential project to watch out.

Meerut’s commercial properties are concentrated in Abu Lane, Begampul, Sarafa Bazaar and areas adjoining the National Highway and Bypass roads.

Appreciation of Meerut properties are in the range of 40-50 percent per annum, according to a real estate dealer.

Meerut’s retail space sector is booming with shopping malls and multiplexes. The main retail hub is PVS Mall in Shastri Nagar. CG mall has a three-screen multiplex by Adlabs. MSX Mall is a Multiplex by MSX at Mawana Road, Meerut. Era Mall’s highlights are restaurant, shopping mall, multiplex, food court and swimming pool.