Comparing the Real Estate of Gurgaon and Noida
If you are seeking to buy a property in the national capital region, then the following article will offer help in deciding which location is better for investment. Sale figures for residential properties have risen across most of the major markets in India in the first quarter of 2013, in comparison to the last quarter of the previous year. The following article discusses about the real estate market of the major upcoming real estate destinations of Noida and Gurgaon.
The real estate scenario of Delhi NCR has been constantly improving. The reason behind this rapid growth is the fleet of new residential projects being launched at affordable prices. The demand for houses is likely to increase with the slashing rates of interest on home loans and improvement in the economy.
If you are also planning to purchase a house near Delhi, then Gurgaon and Noida must be among your top two options. These areas are the most sought after real estate destinations when it comes to investment in the national capital region. Let us explore the settlement areas of the two upcoming satellite cities.
Real Estate of Gurgaon
As per a report by Bank of America Merrill Lynch, this conurbation witnessed demand for new homes slackening for the third successive quarter. But, the slowdown in this demand had no major impact on prices. The property rates of Gurgaon, often referred to as the Millennium City, increased by an average of 4.5 per cent throughout housing ventures a period of three months. Lesser launches of real estate projects, smaller inventory and a growing speculation about the market during the quarter resulted in the strengthening of prices.
Real estate majors such as Unitech and DLF, which have already established major housing projects in Gurgaon, unveiled fewer apartments to concentrate on implementation and clearance of inventory. The absorption trend in Gurgaon may have been interrupted for a while but it is till now the highest in India among tier 1 cities. This indicates sturdiness in the property market of the city. Gurgaon has the least inventory of unsold apartments in the country and will continue to demonstrate optimism with the support of an increasing number of investors and end-users. The prices of under-development residential schemes in Gurgaon have constantly moved in the upward direction in spite of weak macro indicators and slow-down in demand.
Investors are still exploring residential options in certain areas of Gurgaon. Areas like Sector 56 of Gurgaon are fast catching the attentions of interested investors and dwellers who wish to live in a well-developed neighborhood. Sector 56 is among the most famous vicinities that have recently come up and has many multi-storey co-operative residential societies. Those investors who are planning to buy property in Sector 56 Gurgaon can explore the wide variety of housing units that the projects here are offering. Situated on the Golf Course road Gurgaon, there are all types of homes available according to your budget and preferences. This sector is the ideal choice for those seeking apartments that are stylish yet affordable.
Real Estate of Noida
Noida also experienced a cessation in the new housing projects in the first three months of 2013. In spite of being an affordable tier 1 city, its absorption levels have remained passive and there was unclaimed inventory began accumulating since 2010. Since then, residential property rates have remained low in Noida as there have been a several new project launches, tepid price rise and slow implementation. Due to this reason, the investors are feeling the real estate market.¬† However, the timely construction and then possession of the new townships will be the distinguishing factor for Noida in the coming times. The infrastructural facilities are also better than those in Gurgaon.
So, your choice of property location depends on your end use. If you are searching for an affordable home where you can live, Noida is the ideal destination. But, for those investors who have deeper pockets and wish to earn quick buck through faster returns, Gurgaon is the perfect investment option.
I think, if you are looking for affordable housing, Noida is a suitable destination. For those with deeper pockets, Gurgaon is the best option
Hmm, never though about Noida is that way…but i’ll take into account i guess. Thanks for this piece!