The Uttar Pradesh Housing Board, in a strategic move, has decided to offer a 35 percent discount on around 5,000 unsold flats in Siddharth Vihar, Mandola, and Vasundhara. This initiative, aimed at revitalizing the housing market and providing affordable housing solutions, follows a lukewarm response to a previous 20 percent discount. Online registrations for the discounted properties opened on Diwali, with specific allocations for each location. The housing schemes include approximately 4,700 unsold units, and awareness campaigns are planned to boost their popularity. The move aligns with the board's commitment to affordable housing, potentially addressing the demand surge in Ghaziabad.
The Uttar Pradesh Housing Board, in a strategic move to reinvigorate the real estate market in Siddharth Vihar, Mandola, and Vasundhara, recently made a pivotal decision during a meeting held in Lucknow on November 9. The decision involves extending a substantial 35 percent discount on approximately 5,000 unsold flats across these locales. The primary objective is twofold: to breathe new life into the housing sector and to make affordable housing solutions accessible to potential homebuyers. Following this decisive move, official announcements disclosed that online registrations for these discounted properties commenced on Diwali, 12 November. The distribution includes 20 flats in Vasundhara, 700 in Siddharth Vihar, and a considerable 4,000 in Mandola. The current inventory of unsold units stands at approximately 4,700 within these societies. To illustrate, in Siddharth Vihar, encompassing the Ganga, Yamuna, and Hindon schemes, there exist 1,292 units, of which 700 remain unclaimed. Simultaneously, in Mandola, 4,000 out of 7,500 units are still seeking buyers, while Vasundhara presents 20 flats available for acquisition, according to Sunil Kumar Sharma, the estate management officer at the housing board. This strategic initiative mirrors a previous effort from December of the preceding year, wherein the board endeavoured to entice homebuyers by offering a 20 percent discount on its flats. Regrettably, the response to this antecedent initiative was lukewarm at best. According to official sources, the financial aspect of these housing schemes translates to approximately Rs 69.5 lakh for a 1 BHK unit, Rs 87 lakh for a 2 BHK, and Rs 1.1 crore for a 3 BHK. In an endeavour to augment public awareness and popularity of these housing schemes, Sharma articulated plans for strategically organized awareness campaigns. The Siddharth Vihar housing scheme, sprawling across 635 acres, boasts around 10 builder projects. The burgeoning community currently hosts nearly 40,000 residents in the Brahmaputra, Kanshiram Yojna, Ganga, Yamuna, and Hindon towers. Its strategic location, proximate to the Hindon and strategically positioned between the Delhi-Meerut Expressway and the RapidX corridor, adds to its allure. Furthermore, the accessibility to the Delhi Metro's Red Line, located just a few kilometres away, serves to enhance its connectivity. Sharma voiced optimism regarding the revenue potential of the Siddharath Vihar housing scheme, citing its strategic location and the provision of Ganga water from the Pratap Vihar plant. Ghaziabad, swiftly emerging as a significant city in Uttar Pradesh, has witnessed heightened demand for housing solutions due to its close proximity to the national capital, Delhi. The Uttar Pradesh Housing Board anticipates that the substantial 35 percent discount it is offering will serve as a catalyst for increasing sales and attracting a broader spectrum of potential buyers. This initiative aligns with the board's steadfast commitment to providing affordable housing opportunities, aiming to open avenues for those aspiring to own a home but grappling with financial constraints.
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