Is It The Best Time to Book Residential Spaces in Delhi NCR?
Posted by Ajit Gandhi on April 6th, 2017
With a huge inventory lying unsold across the country, the road of recovering from this is not just long, but also winding, for the entire real estate sector. Most of the experts have agreed that it will take five more years for the entire industry to sell seven lacs of units. But there isn’t that much of interest that the market has regenerated, which makes it more difficult for the developers to complete even their existing projects. The festive season and the drop in the price chart implemented by the Reserve Bank of India have failed to bring cheers to the real estate market.
According to some of the real estate companies in Gurugram, in the last four quarters, the price of properties in the Delhi NCR market has been completely flat while Mumbai and Chennai find the increase by just 3.7 percent and 1.5 percent respectively. Even though this New Year has shown some slight improvement, but the figures are not as good as that of 2010-2012. The market indeed will take some few more years to revive, and survive out of it.
Gurugram is truly the Millennium City of the country, and one of the most prominent satellite cities in the entire National Capital Region. Gurugram is rich in every sense and has steadily earned the name for being the best cities in India. Ever since India has opened up the entire economy towards foreign investment in 1991, Gurugram has been identified as a lucrative destination for all investment.
The stable law and order couple up with the burgeoning infrastructural development makes the city much more a favorable target for the development and investment. There has been a vast expanse of land available for ownership and development is another important factor that has been driving the investment with a positive gradient in the curve. The face of residential real estate is indeed varied; both affordable residential projects in Delhi NCR along with the luxury real estate segment are prominent in the landscape. There’s no doubt about the quality of residential and commercial spaces and its availability in the diverse price range. As a result of it, people from all the segments of the society finds the scope of investing and this involvement has been the biggest boost for all the companies who have been working here.
It is apparent that there must be some coordination between the development of supportive infrastructure and real estate in Gurugram, and hence, this has been influencing each other for quite a long time. This entire synchrony has proved to be a huge boost for the development that has taken place in the region. Furthermore, quite a few infrastructure projects are all ready and already in the pipeline. The Special Economic Zones (SEZs) given by the local Governments deliberately is the sign of positive move for the entire industry. Due to this, Gurugram is on the cusp of being the ‘SEZ Country.’ When to invest is completely on the investor, but how effective the investment will be, is subject to some study and awareness.
