National Capital Region i.e. NCR has always remained a realty hotspot for those who are living in and around the surrounding areas. Due to this reason every year the whole region see various new additions in the real estate market especially the residential one. Further with new policy implementation like RERA, GST and affordable Housing by the Central Government, NCR realty market has seen much upsurge in the property investments by Home buyers from last 2 years.
According to a latest report by a real estate firm, it has been revealed that NCR residential market has outperformed in the period of July – December 2018. The report which was published by Knight Frank India stated that increased demand in the affordable and mid-housing segment across NCR is the main reason behind this performance.
However, Ghaziabad and Greater Noida performed best in the sale of affordable housing units. Greater Noida ranked first with 50% of the overall sales followed by Ghaziabad and Gurugram.
The report further added that in the new launch category, NCR showed an increase of 35% in 2018. Out of this 75% of the market, shares belong to Gurugram and Greater Noida. Also, there is growth in mid-segment housing launches that cost around Rs 5-10 million.
While under-construction properties taken a back seat, more homebuyers preferred to invest in Ready to move in or near completion properties in 2018. The background of the developer also played an important role while investing in any of the property. RERA has completely changed the overall NCR real estate market with an increase in buyers trust and confidence. This has also led to an increase in sales by 8% YOY in NCR.