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Hindukush Earthquake Adversely Impacts Real Estate In Ghaziabad
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The real estate in Ghaziabad has been shaken by the recent earthquake that struck the Hindukush area in Afghanistan. People looking to buy properties in Ghaziabad real estate like flats in Indirapuram and property in Raj Nagar Extension are now too shaken to invest here. The worst affected are the Ghaziabad flats in high rise buildings. People who were interested to buy flats in Ghaziabad for investment purposes are now re-considering their decision to invest in a high seismic zone. End-users on the other hand are now looking at projects that are offering quakeproof flats in Ghaziabad. Customers looking to buy a property in Ghaziabad real estate like flats in Indirapuram and property in Raj Nagar Extension are also looking at taking an insurance against earthquakes.
Real estate in Ghaziabad is also witnessing a new trend, now more people are interested to buy Ghaziabad flats on the lower floors. Earlier people used to prefer buying Ghaziabad flats on higher floors to get better view and cleaner air. However, lower floors offer easy evacuation and escape in case of emergency and therefore the demand for the same has increased after the recent earthquake. Properties like Raj Nagar Extension property and Indirapuram flats are also witnessing the same trend where there is absolutely no demand for flats on the upper floors.
Real estate in Ghaziabad was till recently growing at a slow and steady pace but the earthquake has jolted the faith of people. The duration of the earthquake was quiet strong and intensity was also quiet high, forcing people to rush out of homes and offices. This incident has prompted the investors to look at safer pastures which do not lie in high seismic zones. Barely a few months ago the Ghaziabad real estate faced the same situation when the Nepal earthquake had struck. A stall situation in the realty market was seen and it seems that the same scenario will get repeated again.
Of course one cannot help and protect Ghaziabad real estate against nature's fury but things can be improved if there is improved transparency in the system. If builders start to handover flats in Ghaziabad according to the stated timeline, natures impact on the city's realty can be reduced on a large extend. Till that time properties in real estate in Ghaziabad like Raj Nagar Extension property and Indirapuram flats will be impacted by acts of god like earthquakes.
Makaan.com is one of the leading real estate India websites that offers comprehensive data on Ghaziabad flats.
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