Gurgaon, Noida to be the focal areas in NCR
According to the estimates by IMF, India will demonstrate a GDP growth of 7.6 per cent in 2016 and 2017 respectively, ahead of China, USA and other major European economies. A better economic growth trajectory has started to give push to the Indian real estate industry, with higher transaction volume witnessed all across India. The Delhi-National Capital Region (NCR) is one of the major receptors of the new investment flow. Although, the major NCR markets such as Gurgaon, Noida & Greater Noida are still suffering from inventory overhang but this would not hold back the region from welcoming new bunch of national & global investors.
New Investment Horizons in Delhi NCR Markets
The Delhi NCR market with respect to new launches could be primarily split into Gurgaon & Noida (including Greater Noida) region. Gurgaon would remain as the focal point of realty investment in times to come. Although after skyrocketing of prices in the recent times, prices have moderated. Nevertheless, as a center of regional business & commerce, the demand dynamics in the city is very strong.
These are thriving micro markets in Gurgaon, primarily catering to the upper middle class buyer base. It is also an upcoming retail & commercial destination in Gurgaon and is economically priced when compared to other micro markets. These markets are witnessing major chunk of new launches in the city.
Compared to Gurgaon, Noida real estate market that collectively comprises of Noida, Greater Noida, Noida Extension and Yamuna expressway is witnessing slightly less number of new launches with the focus more towards completing existing projects first.