New Gurgaon and Greater Noida : coming up as real estate hot spots
National Capital Region is coming up with satellite cities apart from Noida, Gurgaon. Investors are very much keen to invest in New Gurgaon and few parts of Greater Noida. It is noticed that investors who invested in residential units in Greater Noida, had to strive for future returns through the next few years.
Looking at the graph of the duo place, it can be said that New Gurgaon is referred to as a high investor market but Greater Noida is known as a market for low-ticket investors.
Real estate growth of NCR:
According to real estate experts, National Capital Region has witnessed muted growth, the markets of Greater Noida, especially New Gurgaon has seen significant appreciation. In this areas investors have a limited risk appetite, as because of the slow-moving economy along with the changing regulations and tight liquidity conditions.
Within few years Greater Noida has flourished with a healthy price appreciation due to availability of affordable options, whereas New Gurgaon had emerged as the next best location because of attractive pricing , good infrastructure and good projects. Also the profiles of developers had also aided growth in New Gurgaon.
High potential areas :
Like Gurgaon, New Gurgaon is also emerging as one of the luxury destination and developers would continue to launch good premium projects.
Similarly Dwarka Expressway is also attracting investor interest. Also few other areas like Golf Course Extension Road, Sohna Road and Noida Expressway are growing consistently.
Price statistics :
As per the statistics, the average residential property price in New Gurgaon was Rs 2528 sq ft at the end of March 2009 and it rose to Rs 7068 sq ft in 2013, with a rise of 180 per cent. Similarly, Noida Extension a part of Greater Noida, it is noticed that prices have risen 49 per cent through the last five years. There is a clear price appreciation of 16 percentage in 2011 compared with Rs 2818 a sq ft at the end of March 2012.
Even in Yamuna Expressway, the price trend hiked from Rs 3,500 a sq ft at the end of March 2009 to Rs 3664 sq ft at the end of March this year. Last years reports says that it rose 21 per cent.
The price appreciation of this locations are recorded. Its is depicted that Dwarka Expressway and Noida Expressway witnessed a price appreciation of 206 per cent and 158 per cent within last five years. During March end, the price stood at Rs 7121 sq ft in Dwarka Expressway, whereas for Noida Expressway it stood at Rs 9435 sq ft. Both the areas saw a price appreciation of around 45 percentage.
Since 2009, areas like New Gurgaon, Greater Noida and Yamuna Expressway did not witness real estate growth. Whereas Dwarka Expressway stood up slowly and have a price appreciation of 206 percentage. Dwarka Expressway’s real estate had a kick start because it is near to Delhi, hence the excess demand shifted directly to Dwarka Expressway.
Absorption percentage:
According to sources, last year around, 3058 in the mid-segment units were absorbed in New Gurgaon. Whereas in 2011, 1,649 units were absorbed with an average absorption stands at 854 units. In 2013, around 57 units were absorbed compared to 227 in 2012 and 232 in 2011.
Compared new launches of luxury apartments in these three regions, New Gurgaon picked up pace. The records says that total of 509 units have been launched so far this year, against 3,610 in 2012 and 810 in 2011. Hence, mid-level segment, 169 units have been launched so far this year against 3886 in 2012 and 4992 in 2011. Whereas Noida Extension and Dwarka Expressway is good but not so in demand like New Gurgaon. This two regions have demand for new launches.
