Developers forecast revival in NCR’s real estate market

The all important and always buzzing region of Delhi-NCR is the most in demand and sought after realty market of our nation and rightly so. But the real estate arena of NCR was facing a massive slump for the past 2 to 3 years. The primary reason being the pending lawsuit by farmers against the land acquisition by Noida Authority in Greater Noida west or Noida Extension. Almost all major developers had flocked towards Noida Extension during the boom phase but each and every one of them has suffered, without exception.

But many years down the line, all the hapless buyers and developers have finally let out a big sigh of relief when the Supreme Court declared the land acquisition as legal and binding. To top it up no extra compensation will have to be shelled out or handing over of developed land to the farmers. The looming clouds of uncertainty have finally disappeared but not before causing a gigantic delay in construction and handing over of possession of thousands of homes. 2011 marked the year when the jinx had kick started while Thursday was the day when silver lining finally made a much needed appearance.

This SC respite comes in the backdrop of drooping investor confidence in the entire NCR region and the twin cities of Greater Noida and Noida in particular. But you combine this along with the withdrawal of the NGT order; you get a win-win situation for all where investor confidence is bound to be reinstated in the region. Thus according to several industry experts, Noida Extension which has failed to attract any end users and investors alike is all set to rebound. Buyer’s interest is already on the rise and a significant spike is expected in the coming few months.

The prevailing prices at Noida Extension are in between 4500 per square feet and 5000 per square feet. When you compare this to the current prices in other market segments of NCR, Noida Extension seems like a highly lucrative and safe investment bet for anyone and everyone under the sun. Plus with two of the major road blocks done away with, Noida Extension is an opportunity like never-ever before. But the existing prices might not continue for long. Developers are already mulling a price hike very soon. They might not do it immediately as now is the time to lure and woo the customers back in the market but a price hike is definitely on the cards.

So all those who have already invested their hard earned money at Noida Extension and for all those intending to do the same, this comes as a great news. Therefore a revival in the realty space of the national capital region is on the verge of starting as well. So if you had been bogged down about buying your dream home or making a life altering investment in NCR and Noida, then say goodbye to all your concerns and invest in Noida today. A whopping return on investment is all but guaranteed.

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