As Indian real estate investors’ market is seeing a surge in the potential realty projects, popular Indian realty portal 99acres.com puts forth property capsule 2014-15 for Mumbai and Delhi. The report indicates past incidents happening in the cities, the positive aspects, the negatives and finally what can be done to correct the flaws. Every city has its own share real estate update and the report intends to help the potential investors and home buyers to rotate money in the most positive market.
The report has been formulated by the real estate researchers and professionals who keenly follow the economy and the industry. Read in the industry as Property Capsule, the report is utilized here to reflect some of the hard facts about Delhi/NCR and Mumbai.
Delhi Realty Market: The ‘Heard & Unheard Stories of 2014
In the recent past, Indian cities have witnessed growth for any urban cluster in the world. The best performer in this arena is Delhi and the NCR region and why not, the cities replicate development and rapid urbanization. Gurgaon is a bright example that validates the point that Yes! Delhi has undergone massive positive changes. Showcasing facts in the same context, Property Capsule by 99acres has meticulously recorded and revealed the status of Delhi’s property market for the year 2014. Here is an excerpt:
i. Delhi/NCR region faced a huge problem of stock overflow and a major chunk of the residential inventory was left un-used. The un-sold inventory has piled up in regions, such as Noida Expressway, Noida Extension and Gurgaon.
ii. Increased focus on affordable housing segment. The government has recently has offered permission to construct more than 25,000 housing units for Economically Weaker Section (EWS) and Lower Income Group (LIG).
iii. Plans to expand the reach of the metro to locations in Ghaziabad and Greater Noida. This will boost the sale volume pertinent to the residential segment of Delhi/NCR.
iv. The ambitious Gurgaon’s Master Plan 2031 got a Launchpad. This enables opening up of new avenues of growth for real estate development and brought the much-needed positivity in the arena. The major boost will be given to the realty segment covering residential properties in Gurgaon and connected cities.
The special report, Property Capsule, carefully monitored the residential segment and categorized the study into two parts; buy and rental roundups. The bifurcations are useful for different troops of real estate investors as the scenario is likely to affect the airs to be prevailed in 2015. Here’s an illustration explaining the two divisions here:
The Future is Here!
The realty research has collected facts and data experienced in different parts of Delhi/NCR and has analyzed each and every locality; big and small. The report, on the basis of the facts that it collected, made few predictions:
§ The new government is offering support to the small enterprises and is making the market palatable for business and several multi-nationals for smooth functioning.
§ The job market will be enhanced to bring back the residential market on track
§ Investors are backing out from the market and thus, price corrections are likely to happen
§ Approval of REITs will be a source of improvement for the Delhi’s realty market. Builders will have enough funds for the projects that were delayed for years now
There are a lot of supportive facts that have either punched holes or brought in some fresh air into the Delhi’s realty market. The decreased sale volumes and the mismatch in the supply demand demographics is a result of lack of funds, price appreciation and lack of development in an area. The government is trying hard to bring in some hope by formulating policies for tackling the problems. There is also news in the air about increasing attention towards affordable housing in the capital.
