Factors that have fuelled the demand of Residential market in Gurgaon

New Gurgaon is well connected with three major highways which are National Highway 8 (NH8), Kundli–Manesar–Palwal Expressway and Dwarka-Gurgaon Expressway, which increases the attractiveness of the area and makes it a great bet for both buyers and developers. The three main corridors NH-8, Dwarka-Gurgaon Road (Northern Peripheral Road) and Gurgaon-Sohna Road (Southern Peripheral Road) connects Gurgaon with other parts of NCR. The major highlight of the area is its connectivity with Delhi on one side and Neemrana.   The workforce of Manesar and Gurgaon are showcasing their keen interest in the new developing sectors because of the availability of affordable homes. New sectors such as Sectors 85, 86, 87, 88, 89, 90, 91, 92, 93, 94 and 95 are coming up with affordable residential units by all reputed builders and developers.

Apart from the new sectors in New projects in Gurgaon, there are some other sectors in Gurgaon that has demonstrated high demand in the past few years.

Sector 51

Being centrally located, Sector 51 enjoys proximity to the Golf Course Road, Golf Course Extension Road, Sohna Road and NH-8. The sector boasts of an excellent road connectivity and offers smooth and convenient access to the Huda City Centre metro station which is hardly about 4km away.

Sector 68

Located just along the Sohna Road, this sector has witnessed major residential developments by several renowned builders The sector offers both extravagant multi-storey apartments and exotic. Sector 68 shares an uninterrupted and easy access to Golf Course Extension Road is also expected to benefit from the proposed metro here. The sector has reordered to be one of the fastest developing locations in this region and is envisaged to fetch whopping returns in future.

Performance of Real Estate Sector in India

Real estate in India has been reeling under a slow-down for the past 3 years, with sporadic signs of recovery. The first half of 2016 has also been a mixed bag, however the recovery signs are much stronger and one is looking forward to the return of a positive sentiment with an all-round growth in 2017.

New Project Launches

The overall new launches in 2016 has seen a drop of 9% vis-a-vis 2015. However, if we look at the numbers in 2013, there were 232,490 units launched, this figure has come down to 107,120 in the first half of 2016; a whooping drop of 54%. Almost all major cities recorded a fall in new launches, Mumbai being the only surprise which saw a growth of 29% from 2015. The reasons for this fall are well known, with surplus inventory in all major cities the builders are treading cautiously; secondly, the surplus inventory means lack of capital in the market, for new launches. These trends will take some more years to actually see a reversal and the major cities may not see any, as the growth focus has now shifted onto tier 2 and 3 cities.

Real Estate Market Sales

The lowering of interest rates, passage of the real estate bill leading to the clearance for setting up regulatory authorities, ironing out if the REITs and market correction, are all factors which have contributed towards a 7% growth in sales in the first half of 2016. Bangalore and Mumbai recorded the highest growth of 18% and 23% respectively. However, NCR, Kolkata and Chennai markets saw stagnation. Mumbai real estate market has been gaining ground due to the overall Mumbai Metropolitan Region (MMR) which includes Thane and Navi-Mumbai. Both Thane and Navi-Mumbai have been driving sales due to their affordability. The real estate markets have grown from 29% to 49% in these cities giving a big boost to the MMR real estate market.

The drop in new launches and pick up in sales have helped to reduce the surplus inventory to quite an extend and is the main reason for revival of a positive sentiment in the market.

Mumbai, Pune, Hyderabad and Chennai have seen a 7% and more reduction in surplus inventory which has had a positive impact on the real estate markets in these cities. Mumbai (MMR) has been the biggest gainer which has seen a fall of 20% in the surplus inventory. Another reason for Mumbai’s recovery has been the steady demand for office space in the last one year.

Commercial Real Estate

There is some cheer for NCR as it saw an 8% upward trend in rentals of commercial property. Pune and Bangalore have also seen similar trends. This has resulted in a recovery for the commercial sector which has witnessed an overall growth of 12% in the first half of 2016. The delivery volumes have seena quantum jump from 15.8 million sq. ft. to 19 million sq. ft. in 2016, compared to similar period in 2015.

Tier 2 and Tier 3 Cities – The Growth Drivers for Real Estate in India

The facts and figures which have been discussed are for Tier 1 cities and similar figures are still awaited for the tier 2 and 3 cites, which may be available only by year end. It is very clear that the tier 2 and 3 cities are going to be the growth drivers for the real estate sector in the coming years, with availability of affordable land packets, lower costs and an end user driven market these cities are going to witness a Real estate property boom starting 2017.

How To SELLING YOUR Apartment ASAP.

There are many property in India real estate for sale. Do you also have one? If yes, then these points are a must for you. This report highlights the facts that help selling your house faster.

The first thing which you have to do when you want to sell your house is to step into the buyer’s shoe and analyze things accordingly. What may attract a buyer the most? Discounts are always very catchy be it dresses, shoes, accessories, electronic gadgets or whatever. So, house is not an exception. If you give some discount on your house, it will undoubtedly attract the buyers. It may appear as a lucrative offer to the buyers and they might rush to grab the offer. So, this is one working strategy to sweeten the deal in order to close it faster.

The second most important thing is proper cleanliness. Everybody prefers clean clothes, clean shoes, then why not a clean house? Make a point to clear all the clutter from the home before showing it to potential buyers. It will create a positive impact on the buyers and help close the deal fast.

When it comes to buying a house, beautiful aesthetics work like a magnet. But this is not sufficient to attract the buyers. As a seller, you have to make sure that there are no glitches.  It is important that doors, appliances and plumbing fixtures be in compliance with current building codes and in working order. 

Beautiful things always attract the attention of the people. House is not an exception. If you have a beautiful house, many people will be eyeing on it.  So, add some highlights to your house like custom design, spectacular landscapes, high grade windows or a new roof to bring appeal. And you can see the deal is closed in no time. 

After you are done with everything the most important part remains the pricing of the house appropriately. Real estate in India, you should not go out of blue and price the house too high and neither too low. Fix the price correctly so that it makes a fair deal for both the parties- the buyer and the seller. 

So, following all the tips mentioned above, you can sell your house faster.