Right Time to Take the Plunge

NCR consists of cities like Gurgaon, Noida, Greater Noida, Faridabad, Ghaziabad, Sohna Road and so on which happen to be on the periphery of Delhi. The huge economic activity in and around the capital city, Delhi, has lead to an increased demand. Major realtors like DLF, EMAAR, Unitech, Parsvanath, India Bulls, Jay Pee group etc came up with different projects. The huge demand and comparatively lesser supply lead the prices soaring and NCR residential property started falling out of reach of the middle class. But, the recent ongoing recession has leveled all this.

The realtors at present have slashed the rate up to 30 % of the earlier prices. But property seekers are still gauzing the situation and waiting for the prices to fall further. This speculation has dried up the liquidity from the real estate market which is hampering the realtors. And this is why they are doling out lucrative offers to lure the customers. Some of these have come up with schemes like-No EMIs and interest till possession, others are offering high value luxury items and some of them are even giving cars alongside the apartment( this is for ultra luxury condos) intended to target HNIs( High Net Worth Individuals).

These moves, though, have created some ripples but are still a far cry from bringing smile on the face of the realtors dealing in the NCR residential property. But, according to the experts this sorry state of affairs is not going to stretch to a substantial period and if they are to be believed the prices will again start to escalate in the wake of a resurgent economy. This may take a year’s time or so but those who buy at the near bottom prices now will definitely have strong reasons to feel happy after sometime.

The capital city is busy improving its infrastructure and governments of these NCR’s too are following the development with equal fervor. The fallen prices and dwindled home loan rates make buying residential property in NCR a sound investment deal.

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