An investment in the National Capital Region (NCR) is going to bring a lot of good fortune for the investors. This growth in Delhi/NCR real estate market is a result of the overall economy improvement in India. According to a report by IMF, India will see a GDP growth of about 7.6 percent in 2016-17, even ahead of China and some other developed European states. The effect of this comprehensive growth can be clearly seen in the country’s real estate market. Delhi/NCR, being the capital region, will witness the best ripples.
Let us divide the NCR market largely into two segments- Gurgaon and Noida.
Gurgaon is the most attractive investment destination in NCR. Being the largest commercial hub of the NCT, Gurgaon is bound to get good results. It experiences strong demand dynamics and now with price moderation by the builders, the market has become even more attractive. Though the central areas have saturated with commercial and residential projects, the growth corridors of New Gurgaon, Sohna Road and Golf Course Extension Road are now attracting many global investors.
The New Gurgaon area along the NH-8 showed highest appreciation in the average capital price, standing on 10% over the last year. It was followed by New Gurgaon North and Sohna Road that showed 8% growth. Golf Course Extension Road and Old Gurgaon were at 7% growth. Dwarka Expressway and the Southern Peripheral Road remain the most affordable ones in Gurgaon. Most of the locations in Gurgaon cater to the upper middle class and the HNI segment. However, in terms of commercial investment, the upcoming corridors happen to be affordable bets.
Noida micro-market, including Greater Noida, Yamuna Expressway and Noida Extension, show a completely different scenario. While Gurgaon is seeing a number of new launches along the upcoming corridors, Noida is majorly focusing on the completion of existing projects. Though the price appreciation is not as good as Gurgaon, the market stays stable. Driven by a bullish demand, Yamuna Expressway and Greater Noida West have seen the highest number of new launches in the commercial segment which will fuel residential realty in future.
In terms of percentage increase in value over the last year, Yamuna Expressway is on rank one with 6.5%. Noida Extension and Noida Expressway Zone II have shown growth of around 3.5-4%. Values have minimally increased in other localities but the overall scenario is stable due to which the investors stay invested.
One of the main reasons why NCR real estate is growing, despite the slowdowns, is the price moderations carried out by the builders. Inventory overhang may be a problem but not big enough to discourage new launches. Investors are showing interest in NCR market, especially for commercial properties.
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