2015: A YEAR OF ANTICIPATION
People are likely to press the buy button only if interest rate cuts and tax sops are announced; developers will focus on affordable housing
Tof more jobs and the resulting demand for residential units. The year will see only endusers dominating the residential space and very few investors. There will be demand primarily for value-for-money units in the NCR. Areas that will look up will be those offering units in the 5000 to 6000 per sq ft range or the 60 lakh to 1 crore, depending on the location. These will include Ghaziabad, New Gurgaon, Neemrana, Dharuhera and Faridabad.
According to Anuj Puri, chairman & country head, JLL India, smaller, yet betterdesigned and more efficient homes will define the residential real estate market in 2015, and selective corrections in some of the over- priced cities will help bring about faster sales for stagnated supply of larger configurations. Townships will become more prevalent, and the supply of luxury homes will moderate to align with the slow demand dynamics for these offerings. Affordable housing will clearly be the flavour of the season.