NCR residential outlook: More supply on the way
The inhibitions that end-users had earlier, due to irregularities in land acquisition and approvals, are also a thing of the past.
NCR’s residential market is expected to see renewed momentum in terms of fresh supply with several large projects including townships expected to be launched in 2013 concentrated on emerging locations of Gurgaon and Noida such as Dwarka Expressway, Southern Peripheral Road, Noida Extension, Greater Noida and along the Noida-Greater Noida Expressway. There would also be a very wide variety in product offering ranging from affordable to luxury, with the majority expected to cater to the affordable and mid-priced segment.
Of the two locations, Noida is expected to outdo Gurgaon with an estimated 68,700 units expected to get completed. More than 85 per cent of these units have already been sold to buyers/investors in the primary market. Given the huge influx of supply and steady demand, a moderate price appreciation is expected in the coming year.
In terms of new project launches, micro markets such as Noida Extension, Greater Noida, Noida-Greater Noida Expressway and Yamuna Expressway are expected to come up with very large residential projects mainly in the affordable and mid-priced segments to attract end-users.
Greater Noida and Noida Extension
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