Make an investment in the emerging corridors of Delhi/NCR

With the emerging requirement of property in Delhi/NCR, Noida, Ghaziabad and Gurgaon have seen the steady growth of residential as well as commercial property. As these places have been developed, the action is now shifting to other regions in the NCR. 

According to SANJEEV SINHA, “Affordable property prices, proximity to the national capital, fast-developing infrastructure, and the availability of spacious and quality residential units are the key factors driving the growth of satellite towns and other suburbs of the NCR.

Also, rocketing real estate property prices in Delhi, Gurgaon, and Noida combined with a shortage of housing units to accommodate the fast growing migrant population, has propelled the real estate market in these suburbs and satellite towns.”

Amit Mavi, the MD of a real estate consultancy, says: “The real estate sector in the national capital region has undergone a sea change in the last decade. Disparity in the demand-supply equation in the past has been the chief catalyst for the emergence of new corridors in the region, which resulted in the inclusion of new urban agglomerations to keep pace with the rising demand for real estate asset classes. The new master plans are also a reflection of the same phenomenon.”

 Some of the hotspots that have fast emerged as the nerve centre of future growth and real estate development in the NCR includes: 

·         Noida-Greater Noida Expressway

The location has emerged as a big residential as well as commercial destination for investors as well as developers. In this region, there is also tremendous potential for the growth of hospitals, hotels, retail outlets, educational institutions and much more.

“Rents and values of commercial properties in this region still continue to be low compared to other commercial districts in the NCR, making it an attractive proposition for corporates. And, as the migration intensifies, it will provide the necessary impetus for the demand and growth of other asset classes,” Mavi says.

The connectivity to Greater Noida Extension has improved that is likely to provide the necessary momentum for this corridor. Since the time, Yamuna Expressway has been made operational the region has seen a leap in the traffic inflows from different neighbouring cities to the NCR.

“This will further enhance the connectivity of the major cities of the state to the national capital that will be routed through Noida-Greater Noida Expressway. FNG (FaridabadNoida-Ghaziabad) Expressway will cut across Noida-Greater Noida Expressway and will enhance connectivity to the adjacent cities and add to the momentum,” Mavi says.

·         NH-24

NH-24 that is running through Ghaziabad is fast emerging with the state-of-the-art infrastructure in place. In the present scenario, places like Indirapuram, Vaishali and Kaushambi have posh residential colonies that are offering premium living conditions.

·         Bhiwadi

Bhiwadi has emerged as a perfect combination of both with the town and nearby areas shaping up as commercial and industrial hubs.

Other hotspots: In addition to these, there are some other places which are fast emerging as hotspots in the Delhi NCR. These include Greater Faridabad, Dwarka Expressway and Yamuna Expressway. All these places are becoming the major real estate property for investors as well as builders. 

Buy real estate property in Modi’s rule

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The real estate sector has been yearning for the industry status for long now. After facing disappointment time and again, the sector now expects this move from the new government, which in most probabilities is going to be the NDA-led government. 

Real estate market has suffered a lot, lately due to the uncertain political environment surfacing the country. However, after waiting much, Narendra Modi is emerging as the next prime minister of India after garnering majority votes. The advantage is that 2014’s NDA-led government is touted to be one of the most stable governments after almost two decades.

With the obvious election results yet to be announced, the industry has already started pouring in its expectations on considerable attention to be given to the real estate sector. Pradeep Jain, chairman, Parsvnath Developers Ltd says, “We expect the new government would ensure industry status to the real estate sector which will ease the inflow of funds.”

The benefits of industry status to the real estatesector are recognised as apart from availability and inflow of funds, the move will also ensure a better regulated framework and increased transparency in the business due to government’s intervention.

It is expected that Modi’s government would work towards country’s economic stability and would    reboot the regulatory framework surrounding real estate and put a mechanism for fast-tracking the process of developing projects. This is turn would boost the confidence of stakeholders in the real estate industry.

While the industry is pinning many hopes to the new government, it is ready to accept its own responsibility towards the sector’s growth.  With positivity and optimism pouring in from all directions, the real estate sector is definitely looking on to a change for the better. It’s for time to tell. Lets’ wait and watch!