M
Meera Jain
posted on 19 MayRaj Nagar Extension rents are just plain crazy
Raj Nagar Extension mein, I just moved into my new 3BHK a few months ago. My friends are looking for rentals nearby and the rents have shot up like crazy. Builder flats mein, 2BHK ka rent ₹15k-₹18k tak jaa raha hai. Is this rent increase justified, ya investors bas over-demanding ho gaye hain? Will it stabilize soon?
#raj-nagar-extension#rent#ghaziabad#rental-market#rent-increase
Comments
It's a complex situation. On one hand, yes, the area has matured, and amenities are better. On the other hand, the jump from say, ₹10k to ₹18k for a 2BHK in just 2-3 years feels excessive. It's squeezing the middle class, especially those just starting out. I worry about the affordability factor. Will it stabilize? Hard to say. It depends on future supply, interest rates, and how many people can actually afford these new rents without compromising too much on their savings. I hope for some correction, but I'm not very optimistic.
See, the problem is multi-faceted. RNE has seen a lot of development in the last 5 years, with new schools, hospitals, and commercial spaces. This naturally drives up demand. Plus, the connectivity to Delhi and Noida has improved significantly. Investors bought these flats years ago at lower prices, and now they see an opportunity to get good returns. It's basic economics, unfortunately for us renters. I don't think it's just 'over-demanding' investors; it's also genuine market forces at play.
I've been searching for 3 months now, and it's a nightmare. My family is moving to Ghaziabad for my new job, and we need a 3BHK. The brokers are quoting ridiculous prices, and then there's the 2 months' security deposit plus one month's brokerage. It's like they think money grows on trees! I budgeted ₹18k max for a 3BHK, but even a decent 2BHK is crossing that. This current market condition in Ghaziabad is just brutal for first-time renters. I'm worried if I should just postpone my move.
It's a tough situation for sure. The demand is genuine in RNE, but the investor-driven price hikes are making it unsustainable. I hope the market stabilizes soon, but with more people moving to Ghaziabad, I doubt it'll go down drastically. [Q] Do you think the upcoming metro extension will push prices even further?
Don't postpone if you can help it, you might miss out on job opportunities. Try negotiating the brokerage, sometimes they agree for 15 days or 3 weeks if you push hard. Also, look at properties directly from owners on platforms, you might save on brokerage. It takes time but worth it. [A] And try looking slightly off the main RNE road, like in areas a bit further in.
Feel you, bro. Same boat here. The security deposit and brokerage really hit hard.
Pata nahi yaar, justified toh nahi lagta. My budget for a 2BHK is max ₹12-13k, but RNE mein kuch mil hi nahi raha. Sab 15k+ bol rahe hain. [Q] Is it better to look at areas like Abhay Khand or even Crossings Republik now, ya wahan bhi same situation hai?
Yes, Crossings Republik might be an option but check the commute. [A] Abhay Khand is also getting expensive now, so don't expect a huge difference.
Bhai, Crossings Republik mein thoda relief mil sakta hai, but connectivity ka issue aayega for many. Abhay Khand mein bhi prices badh gaye hain, par shayad 1-2k ka difference mil jaaye. [A] Overall, Ghaziabad market mein rents upar hi jaa rahe hain. Try looking at slightly older societies in Crossings, you might find something closer to your budget.
Totally agree yaar! I'm also looking for a 2BHK in RNE and the prices are insane. I saw a semi-furnished 2BHK for ₹17,000 in a society near the main road. Builders toh bas apna profit dekh rahe hain, supply itni hai nahi jitni demand dikha rahe hain. It's becoming impossible for first-time renters like us. [Q] Kya yeh price hike sirf naye projects mein hai ya purane societies mein bhi same haal hai?
Sahi baat hai. Demand bahut high ho gayi hai, especially from those working in Noida/Ghaziabad who want better connectivity and amenities than what they get in older parts of the city. Plus, the new infrastructure projects are making RNE more attractive. [A] So, it's a mix of genuine demand and investors taking advantage, I guess.
Haan bilkul! Mujhe bhi yahi lag raha hai. Investors are just cashing in. It's so frustrating.
Bhai, it's not just new projects. My cousin is in an older society in Ahinsa Khand II, and even there, their landlord increased the rent by almost 15% last month. They were paying ₹12k for a 2BHK, now it's ₹13.8k. It's a general trend in Ghaziabad, not just RNE. [A] So, to answer your question, yes, purane societies mein bhi haal bura hai.
Raj Nagar Extension mein, I just moved into my new 3BHK a few months ago. My friends are looking for rentals nearby and the rents have shot up like crazy. Builder flats mein, 2BHK ka rent ₹15k-₹18k tak jaa raha hai. Is this rent increase justified, ya investors bas over-demanding ho gaye hain? Will it stabilize soon?