Com­pleted projects and right prices keep buy­ers in­ter­ested

Po­si­tion­ing must for builders if they want to tap the af­ford­able mar­ket

HT Estates - - FRONT PAGE - An­shu­man Mag­a­zine

Com­pleted projects at the right pricing and in the right lo­ca­tion have sus­tained buyer in­ter­est as re­al­is­tic de­liv­ery time­lines and qual­ity of con­struc­tion have been driving de­mand in the NCR hous­ing mar­ket. Prop­erty pur­chases at pre-launch and launch stages of projects have dried up to a large ex­tent in re­cent times. As a re­sult of this low de­mand level, de­vel­op­ers have been rein­ing in their plans of fresh pro­ject launches in the re­gion, par­tic­u­larly for lux­ury projects.

I n l i ne with home­buyer de­mand for af­ford­able hous­ing across the coun­try, the Delhi NCR also at­tracts sig­nif­i­cant de­mand for this seg­ment. How­ever, for af­ford­able projects from private play­ers in the re­gion, the right pricing and po­si­tion­ing strat­egy are key fac­tors for suc­cess.

For the private sec­tor to mean­ing­fully en­gage in this seg­ment, more­over, the pas­sage of the Land Ac­qui­si­tion Act holds great im­por­tance. Un­less land ac­qui­si­tion norms are eased, and land pricing is ra­tio­nalised, it will be dif­fi­cult for de­vel­op­ment firms to en­ter this field at a sus­tained pace.

The prime of f ice mar­ket of NCR con­tin­ues to wit­ness ro­bust space take-up. Gur­gaon con­tin­ued to be favoured by cor­po­rate real es­tate oc­cu­piers seek­ing to ei­ther ex­pand or con­sol­i­date their of­fice spa­ces. De­mand for cor­po­rate real es­tate in both Gur­gaon and Noida was largely led by IT/ITeS play­ers present in the re­gion.

On the of­fice front, rental val­ues saw a slight rise in prime lo­ca­tions of Gur­gaon and Noida, led by high de­mand for in­vest­ment-grade of­fice space from oc­cu­piers.

Most up­com­ing projects for the of­fice mar­ket in the re­gion

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