Completed projects and right prices keep buyers interested
Positioning must for builders if they want to tap the affordable market
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