Wednesday, 10 February 2016

NCR Will Continue To Be The Property Hotspot In India

Real estate in the national capital region (NCR) has made many millionaires - be it builders and developers or initial investors (both organizations and individuals). Areas in the NCR boast of investments from IT, steady growth in infrastructure and a promise of being a hotspot for residential projects in India for many years to come.

NCR is technically located in the state of Uttar Pradesh, Haryana and Rajasthan and the National Capital Territory of Delhi. Upcoming properties in Noida and Greater Noida and also Gurgaon are in high demand as these areas are fast developing. These areas which started as extensions to Delhi have now become prominent for investment. So much so, that they have become cities on their own. In the past three years, these areas experienced a very high number of residential projects in India.

Here are the factors contributing to the growth of NCR:

1. Good Infrastructure: Noida and Greater Noida bring the advantages of being planned cities and, hence, have progressed well with infrastructure support. They had changed tracks from being an industrial hub to IT hub, both of which have made them residential hubs as well. Now, they have a number of cyber parks, SEZs, IT companies which have set-up campuses here. It shows that these areas will have employees of these companies who will continue to look for investments in new apartments in Noida and Greater Noida. The areas also hold the promise that there will be a steady growth of people who would shift base to this area, as the companies expand.

2. Connectivity: The NCR areas have excellent road, rail and Metro connectivity to Delhi.

3. Entertainment: NCR has also seen so much development in terms of hotels and malls that the suburbs attract visitors and party crowd all the way from Delhi. The NCR areas can boast of innumerable malls, movie theaters, water parks, golf courses, Formula One Racing track, and much more.

4. Growth in the Future: What is the outlook? What does NCR have to offer for those who want to invest now? It would seem like the area has reached a saturation point. The availability of real estate space - both residential and commercial indicates that rents will not increase very rapidly from now. However, experts say that the number of projects will slow down from now, which means that in the next few years, the value of existing residential projects in NCR might rise. With the kind of infrastructure and the amenities that the area provides, the number of people who want to live in these areas will only grow. There might be a slight slowdown in the extent of growth, but these areas will certainly grow in value, importance as well as population.

Source: PropertyatNeoDevelopers.Wordpress.Com

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