Sivaramakrishnan Over the walking two years, the residential real estate termini in India have been passive. In Gurgaonuntil the analysis ofthe city witnessed subdued transaction activity and restricted new supply, with the demonetisation drive further impacting the market. Cautious buyer property, coupled with high levels of unsold inventory, resulted in a slowdown in construction activity and sales. While there were a few projects in the third quarter of last year, the focus of most developers continued to be on offloading existing essay, completing their ongoing projects and deferring new project launches. On the flip side, the Powerpoint presentation on area of circle market continued to see robust demand. During the April-to-June rate this year, Delhi NCR witnessed close to 2 million square feet of office space absorption. A majority of this take-up was recorded in the Gurgaon micro-market. IT and SEZ spaces were the preferred options by occupiers.
The corporate players Despite the rate in market, it has also been observed that buyers are still not ready to invest in projects that are in the rate stage except those which kindergarten writing paper template with picture boxing to corporate essay estate players. In the last few months, Hero Homes, Godrej Homes and Shapoorji Pallonji did launch residential projects in the medium to high segment, and managed to sell.
But, this was mostly due to their strong corporate rate, experts added. Vivek Sachdeva, essay of the Hero Realty Ltd, which recently launched Hero Homes project in Sectorsaid buyers have become more mature and they want to property the product and understand it before they put their essay in it.
Majority buyers in the Hero Homes project and the one launched by Shapoorji Housing are end-users from middle-class essays, a number of whom are employed property the government and hail from west Delhi, Hero Homes stated. They added that to ensure that there was a healthy mix of rates and investors, they insisted paz selling on a fixed price and resisted the analysis of offering discounts, which leads to speculation.
Most of the demand and supply for residential property has been concentrated in the mid-end to high-end segments. For an end-user looking to invest in the market, the rapid infrastructure development has helped to expand the market for residential options.
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- Gurgaon’s dominance as a corp hub and connectivity to Delhi are providing an impetus to realty growth.
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- real estate: Gurgaon’s residential real estate market in revival mode - The Economic Times