Real Estate Delhi NCR

Real Estate Property in Delhi NCR are witnessing a rise in demand with the development of large commercial areas in the National Capital Region (NCR) of Delhi. A studio apartment is a small-size accommodation with all the modern facilities. This concept has become very popular in the NCR in recent years as studio apartments come within the affordable range and are suitable for first-time buyers. So Primo Realty launched their new project.

Its popularity can be understood from the fact that over 1,600 units of the newly launched studio apartments at Primorealty some days of the launch.

The project, Buddh Circuit Studios, has two options: 1BHK (560 sq ft) and 1BHK plus study (725 sq ft), with the price starting from Rs 18.42 lakh. The apartment will have vitrified tiles throughout, complemented by enameled flush doors and oil-bound distemper walls, to keep them looking fresh and new.
The integrated township will also comprise world class educational facilities, medical centres, and recreational facilities. Sports City has a variety of residential and commercial offerings, along with breathtaking vistas of perennial lakes and canals.
Many developers have also launched services apartments, where they would also provide room service to residents. These apartments will be highly suitable for investment purpose as they are likely to command high rentals.

Real estate in Delhi (NCR) – The largest residential market in India

The real estate prices have peaked in Delhi and the national capital looks cramped up for space. This is one of the main reasons that property buyers are increasingly turning towards the National capital region that include places like Noida, Greater Noida, Gurgaon, Faridabad and others. The reason that people are flocking to buy properties in these places include lesser cost, free space, better planned colonies and residential township, and off course, proximity to Delhi.

If we see in retrospect, then the prices started increasing ten years ago and the robust economic growth along with a creation of upper-middle class in Delhi NCR further pumped up the prices. This also created a demand for premium or luxury property in this region. And by the time recession hit the world and spread its tentacles to India, the prices had already become exorbitant. However, recession saw large corrections in price and real estate crumbled from the uneven equation where the supply exceeded demand.

Apart from the price correction in the period October 2008- May 2010, the realtors also started targeting the middle-income group and the period saw the frequent launches of affordable housing projects. The prices were kept tantalizingly low and focus was given to streamline the project management and make it cost-effective. Many buyers saw this as a good opportunity and hence the trend of affordable housing, that almost became obsolete in the initial period of 2008, was revived once again. This trend has persisted ever since then and post-recession the demand for luxury projects too has increased manifolds. The prices have again started skyrocketing and the future of Delhi NCR looks stable and is slated for a sustained growth in the coming years.