NCR Real Estate is Magnifying its Growth

Thanks to lower interest rates, stable real estate prices and end-user appetite for larger houses, United States Census Bureau shows strong performance in the office and residential asset classes in 2021. For example, in his latest report. A global real estate consultants noted that home sales in NCR sold 65% year-on-year in CY2021 with 35,073 units sold in the year, while new sales increased 110% year-on-year, an increase of 20,585 units.

According to a further Land Agency Research report, the entire NCR recorded a 73% increase in home sales - from 23,210 units in 2020 to 40,050 units in 2021. With this performance, NCR is only second only to MMR in terms of sales in 2021. witnessed home sales of almost 76,400 units in 2021.

After a short delay during the second wave, activity increased as fears of a pandemic disappeared. The RBI's supportive approach has helped the housing sector. Due to the increased relevance of buying a house during a pandemic, supported by a trend of homework and low-interest rates on housing loans, buyer sentiment was positive, leading to confidence in developers when launching new projects.

A residential and commercial property consultancy, titled Indian Real Estate: Half of 2021, noted that two-thirds of NCR sales were in the second quarter of 2021, totalling 23,599 homes. Driven by strong demand, average house prices began to rise, rising 1% in the last quarter of December 2021, the report notes.

After a near halt in 2020, 2021 started better, but in the first months a second wave hit the market; however, after June 2021, the sector experienced a recovery supported by persistently low-interest rates on housing loans, good projects and moderate prices. The number of sales improved significantly during the year.

People are aware of the value of a healthy lifestyle, regaining life and connecting with one's inner self. People have turned to farms in the last year and a half, and things have changed dramatically,'

With increasing connectivity, the demand for infrastructure for real estate, especially commercial premises, is increasing. Noida's commercial viability will strengthen the airport, Film City and DMRC corridors. The Noida-Greater Expressway belt and office zones (sectors 62 and 63) are particularly active. The physical and social infrastructure in this zone is undoubtedly much better than in other areas.

The minimum housing loan payment acts as a promoter. Customer preferences have shifted to larger multi-bedroom homes. Many developers have to bear the burden of financial stress, which cannot be saved. End-user demand has therefore finally shifted to developers, who continue to supply.