Everybody is talking about the fact that the real estate arena of our great nation is facing heavy turbulence. Balance sheet of majority of the developers, real estate consultants amongst others, who are operating in India’s realty space, is bleeding red. Also it is no rumour that the industry has for long been marred by a staggering surplus of supply. Demand has been kind of sluggish and thus real estate is struggling quite a bit. But on the other hand, real estate is getting back on the growth bandwagon and things might take a u-turn for the better pretty soon.
But because of the gloominess which had engulfed the sector for the past few years, property prices in a major chunk of Delhi’s key localities have dipped quite a bit, in some cases, as much as a whopping 20 plus percent. While the other two mainstays of NCR, Noida and the millennium city of Gurgaon, have witnessed extremely little correction and drop in prices. According to several reliable experts, Delhi’s realty market is under stress on the back of sluggish demand from both investors and end users alike.
Many key and high profile localities of Delhi like Jor Bagh, Vasant Vihar, Golf Links, Westend, Defence Colony, Shantiniketan amongst others, have witnessed a humungous price drop in the range of 10 to 20%. This same trend was observed in the year 2013 and continued in 2014 as well. Thus current valuations are rightly being termed as mouth watering by one and all.
The prices in Gurgaon and Noida have remained relatively stable and are expected to skyrocket pretty soon. While several relatively new members of the NCR stable like Sohna, Bhiwadi and Neemrana have experienced a significant spike in realty prices. So if one observes carefully then real estate is most definitely struggling a bit at the moment but on the contrary it is a great time to make a purchase for investors and end users alike. Lower prices of properties in Delhi; make it a highly lucrative option for end users. While on the other hand, Noida, Gurgaon, Sohna, Bhiwadi and Neemrana are simply great options available at the disposal of realty investors who are looking for investments with prospects of high return on investments.
What most are failing to realize is the fact that what a great opportunity they have at their disposal. As the prices are falling and the demand is sluggish as well, the bargaining power lies entirely with the buyers. So if you are good at bargaining then there is absolutely no time like now to buy the home which you have always dreamed of but at a cheaper rate. Developers are also extending from their end, never before seen discounts and exciting offers to lure the buyers back into the market. So it is a win-win situation for everyone involved. So act now, an opportunity like this might not knock on your door twice. Loss of real estate players is certainly your gain.