As compared to last financial year, housing sales has been increased at several major real estate markets in the nation because of new launches at competitive ranges and several discount schemes and attractive payment plans. Rate of home loans may further reduce and economy may bounce back in future. If you are thinking to buy a new home in Gurgaon, Noida and Delhi, it may be a best deal for you. These satellite cities are most popular and anticipated real estate destinations in NCR.
Also known as Millennium City, Gurgaon witnessed great demand for new residential spaces especially in Sector 68. Several major developers like M3M Group have invested here and launched ultra luxurious projects like M3M Merline. No effect has been seen on property prices because of slowdown on demand. Within just 3 months, the property prices have been rose up by 4.5% on average. During the quarter, there are some projects seen higher prices because of higher speculation of investors and lower inventory.
Some other real estate leaders like Unitech and DLF have introduced ultra-modern and large townships in Gurgaon and some apartments are awaiting inventory clearance and execution. In Gurgaon, the absorption rate is getting down. Out of several Tier I cities in India, Gurgaon is still enjoying highest absorption rate because of strong market conditions. In the nation, Gurgaon witnesses lowest inventory of unsold apartments. Bank of America added that Gurgaon is about to see strength in the higher number of investors and end users. In Gurgaon, the prices of residential townships are about to move despite slow demand trends and fragile macro indicators.
On the other side, Noida has seen slowdown in first three months of 2013 on new launches, when demand was steady in Gurgaon. Out of several Tier I cities, Noida is considered as most affordable real estate destination. But unsold inventory in this city keeps on rising since 2010 and has subdued absorption rate. In this city, the prices of homes have been depressed due to higher number of projects, tepid appreciation of price and poor execution. Gurgaon is a best place if you want to make bucks faster.
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