Real estate is becoming one of the best forms of investment with an almost ensured return on investment. If something is known from recent trends, property values are simply set to increment from here on. Over the past year, many government reforms and development trends have made predictions for the new year look extremely positive. This means that for all aspiring homeowners and real estate investors, now is the best time to buy a home or invest in real estate.

Real estate sagacity typically tells us that New year is the prime time for house hunting and moving. People are more likely to get out and shop when the time is auspicious. However, there also are some very persuasive reasons to own a home and move during the starting months. Here we take a look at some of the reasons why this may be the perfect time to buy one’s dream house:

Affordability like Never Before

The costs of property available have never been exceptional than they are this new year. Properties in many regions have seen an ascent in purchasers because of the low costs advertised.

Ample offers:

As always, property developers have launched several offers and new plans to woo future homebuyers. However, this new year has seen a drastic reduction in advertising expenses, and it also mentions nothing about subvention schemes as such schemes are now banned, however, many real estate still has some lucrative deals. There are huge discounts on projects and huge potential for homebuyers this new year.

Better regulation: The Real Estate Regulatory Act

Over the years, RERA has extended its protective umbrella over a large terrain. Buyers interested in properties under construction due to low price points are protected by this law and can confidently invest in any state to which RERA applies. They no longer have to worry about the project being delayed or stuck completely, or the developer reworking any part of the agreed-end product.

What to do?

Keeping all these facts in mind, industry experts state that this may definitely be the most appropriate time to invest in a piece of property as home prices can only move with increasing demand for the property.

Thus, if you are planning to buy a home for your own use and Ace Group is getting decent deals for you. Moving house costs may correct or even increase slightly – nobody is sure of it. So why wait? However, buyers are advised to take reasonable precautions when investing in property and buy their dream home only from a reputable developer, Ace has a proven track record of conveying projects on time as well there is no compromise on the quality of construction.

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Urgent Registration for Flat Buyers

Residents in high-rise societies in Noida or Greater Noida who have received the NOC but have not yet registered their flats are advised to do so at the earliest. The district administration is set to introduce an increment in the circle rate in Noida and Greater Noida within the next one and a half to two months, based on which the circle rate is expected to go up by approximately 20–25%. This impending increase will also raise the stamp duty of flat registration, meaning higher costs for buyers.

Historical Context of Circle Rate Adjustments

The last change to the circle rate was carried out in 2015. Although the district administration prepared a proposal in 2022 to bring down the rates to the market values of the three authorities, it faced considerable opposition. 

The proposal indicated hikes of up to 75% in some areas, which the government rejected at assembly level, especially with regard to the 2022 elections. But the present district administration has carried out ground-level surveys indicating the possibility of increase in circle rates this time.

Future Prospects for Flat Registration

The Amitabh Kant policy has paved the way for the registration of about 63,000 flat buyers in the regions controlled by Noida, Greater Noida, and Yamuna Authorities in the coming year. After many years, there is a record of approximately 7,000 new flats registered since April of this year. 

However, this increase in registration will be accompanied by increasing costs. For instance, a flat of 1000 sq. ft. with the circle rate of ₹ 6,000 shall have a new stamp duty charge of ₹ 300,000. The circle rate is a major factor in determining the stamp duty; if the circle rate rises by 25%, then this expense would increase by ₹75,000.

Implications for Farmers and Land Acquisition

The three authorities in the district are also under pressure to increase their land bank. The district administration pays compensation to farmers at a rate that is two times the circle rate for the land. Farmers have been seeking an increase in this compensation rate for several years now. 

Therefore, in light of the impending registrations of flat buyers, the circle rate is expected to go up to be able to correspond with the compensation given to farmers via the stamp revenue that will be collected from the registration of the flats. As the farmers are not willing to sell their land at the current rates, the hike in the circle rate seems inevitable. Therefore, it is highly recommended that flat buyers in Noida and Greater Noida should register their properties at the earliest to minimise their losses due to the expected increase of circle rates.

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Noida Secures ₹1 Lakh Crore Investment 

In fiscal 2023-24, the Noida authority had a target of reaching ₹90,000 crore in investments. Instead, the authority managed to achieve a whopping ₹103,000 crore worth of investments. Moreover, the Noida authority has allocated land to at least 149 developments, including IT and corporate organisations. According to a recently submitted report to the state government, MNCs and housing are expected to invest ₹103,000 crore in fiscal years 2023-24.

Interestingly, a report also suggests that a few of these investors have begun construction on the site. Under a directive from the state government, which is organising a “groundbreaking ceremony” soon to formally launch these projects, the Noida authority has crafted a report outlining the investment proposals that have materialised on the ground.

In the last year, 448 investors signed memoranda of understanding with the state government, which then forwarded these ideas to the appropriate industry bodies. The Noida administration has allocated land to 149 of the 448 proposals. According to officials, the remaining investors are looking for land in the “New Noida” area, which remains to be developed.

According to another official, at least 50 of the 149 projects that received land allocations have begun groundwork. And the rest are in the process of initiating work. According to officials, there are 89 industrial plots, 37 IT plots, 12 commercial plots, and 11 group housing plots. Furthermore, plots with sizes varying from 450 square metres to 52,000 square metres have been assigned by the authorities.

Over the next three years, these 149 companies are expected to generate at least 440,000 new jobs.

400 E-Buses To Start Operations in The Next 3 Months

Plans call for the e-bus service to provide smooth access to the future Noida International Airport near Jewar. The city bus route would additionally pass through all of the district’s key locations, including the Delhi borders, Yamuna Expressway, Electronic City in Sector 62, Noida Airport, Noida-Greater Noida Expressway, commercial and economic regions, industrial areas, government offices, and more. 

At least 400 electric buses are scheduled to begin service on strategic routes in the Gautam Buddh Nagar district soon, with the goal of improving last-mile connectivity throughout the area. The Yamuna Expressway Industrial Development Authority (YEIDA), Noida Authority, and Greater Noida Authority have received directives from the Uttar Pradesh government to acquire e-buses so that the city’s bus service may begin. After the formalities associated with the tender have been concluded, the buses are expected to begin operating within the next three months, according to officials. 

India’s Largest Airport Phase 1 is Expected to Launch in October

The development of Noida International Airport, commonly referred to as Jewar Airport, is close to completion, and passenger operations are scheduled to start in October. Following its completion, the airport—which will eventually be the largest in India—would be the third in the National Capital Region (NCR), including the Delhi Airport and the Hindon Airbase in Ghaziabad. 

Six roads, a swift rail-cum-metro, and pod taxis will connect the airport to a number of locations to improve connectivity. At Ballabhgarh, a 31-kilometre greenfield expressway is being built to link the airport with the Delhi-Mumbai Expressway. In addition, a 750-metre, eight-lane road is being constructed by the National Highway Authority of India (NHAI) to connect the expressway and airport. 

One of these projects, which would cost Rs 63 crore, entails building an 8.2-km-long and 30-metre-wide road that will run east and north of the airport. This route will link the Yamuna Expessway and the cargo terminal at the airport. In addition, a VIP access road from the Yamuna Expressway will be constructed to facilitate VIP and emergency access to the Noida Airport. 

The Rapid Rail-cum-Metro Rail’s Detailed Project Report (DPR) has been approved and forwarded to the government for a funding recommendation. The pod taxi and monorail are also the subjects of ongoing research that could take up to two years to complete. 

New Expressway Coming to NCR 

With the introduction of numerous expressways, metro routes, and transportation options, Delhi-NCR’s connection is rapidly expanding. The amount of time spent commuting has significantly decreased as a result of these improvements. Leading these projects is the new 31-km Faridabad-Jewar Expressway, which will only require 15 minutes to get you from Ballabhgarh to Jewar Airport.

At the moment, it takes roughly two hours to travel this distance. From 90 km to 31 km, the new six-lane expressway will reduce the distance, according to the National Highway Authority of India. This project, which is estimated to cost Rs 2,414.67 crore, is now under development and should be completed by June 2025.

In addition, the expressway is expected to stimulate the local real estate market. Developers predict that once finished, the value of real estate in the surrounding villages and other locations will rise by up to 40%, which will help local buyers and investors.

Furthermore, this expressway is expected to facilitate greater economic growth in the area by connecting the Delhi-Mumbai Highway, Yamuna Expressway, Kundli Ghaziabad Palwal (Eastern Peripheral Expressway), and Kundli, Manesar, and Palwal (Western Peripheral Expressway). 

Real estate experts believe that as this project progresses, more individuals will be drawn to Delhi, Noida, and Greater Noida, increasing their allure and value and benefiting the real estate market as a whole. 

Wrapping Up!

As Noida continues its journey of constant development, it is surely exciting to witness the growth of the region. Based on the trajectory of its current developments and future plans, Noida exudes a bright future, heralding an era of unparalleled progress.

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In this blog, we will focus on the details of this trend and explore the regional variations. We will also discuss how this upward trend could impact prospective homebuyers and investors and how it would affect homeownership in India. 

Quick Glance At The YoY Housing Prices

India’s average house price increased 10% YoY in Q1 2024 to INR 10,485 per square foot. This was driven by the persistence of healthy demand, which was supported by stable repo rates and restrained inflation. The housing prices of the top eight cities increased annually, with Bengaluru experiencing the largest increase at 19% YoY and Delhi-NCR following at 16% YoY.

Pan India Housing Marketing Trends

Ahmedabad

Due to a rise in residential demand, particularly in the mid-segment, housing prices increased 13% YoY. Future infrastructure projects like Ahmedabad Metro Phase 2 are expected to increase residential activity in the Gandhinagar suburb of the city. 

The two micro markets with the biggest annual price increases were City Central West (26%), and Eastern Suburbs (12%). Furthermore, the amount of unsold inventory went down an annual 8%. The majority of unsold apartments, which was 64% as of Q1 2024, remained in the affordable and mid-segment. 

Bengaluru

Interestingly, Bengaluru, with a 19% yearly price increase, had the biggest increase among the top eight Indian cities. The micro markets on the Periphery and Outer East showed the biggest growth, at 32% YoY. Moreover, the demand for 1BHK apartments remained strong, and prices increased by 35% YoY, with 3 BHK configurations following suit. 

Large apartments were in high demand in areas close to important IT hubs like KR Puram and Whitefield. However, the mid and luxury-class properties comprised about 70% of the unsold inventory. The number of new product releases in the city increased significantly, particularly in the luxury sector, the bulk of which were in the Outer North and Periphery micro markets. 

Chennai

The city’s housing prices increased by a moderate 4% year over year. North Ambattur saw the most significant increase, with a 14% annual price increase. The forthcoming Metro Phase 2 is anticipated to increase residential activity in the Central Chennai, Ambattur, Tambaram, and Poonamallee sectors even further.

The increasing demand for 4BHK units resulted in an annual price increase of 13%. Additionally, 36% of Chennai’s unsold inventory was located in the Chengalpattu (Coastal) micro market, primarily in the affordable and mid-segment. 

Noida

Amidst robust demand, the real estate market of Delhi-NCR witnessed a drop in the unsold inventory.  While Delhi-NCR showed a significant annual rise of 16% in housing prices, Dwarka Expressway exhibited an increase of 23% YoY.  According to experts, new project launches will come to life in the Dwarka Expressway housing market, resulting in further increases in property prices. 

Also Read: DELHI-NCR’S ASCENT IN THE REAL ESTATE MARKET

With the rise in demand, the unsold inventory dropped 8% YoY further displaying a balanced demand and supply dynamics in the city. An important point to be noted is that this was the fifth consecutive quarter drop of Noida’s unsold inventory. The majority of the region’s unsold inventory, or about 54% of it, was in the micro market of Noida Extension and belonged to the mid-range and affordable price range.

Hyderabad

The city’s housing prices increased 9% each year, with the Southwest micro market experiencing the biggest YoY increase at 15%. Central Hyderabad’s average prices somewhat decreased as a result of strong sales in reasonably priced developments that just obtained occupancy certifications. 

The Northwest micro market’s 1-2BHK apartments experienced the largest annual price increase, rising 6-7%, due to strong demand stemming from their close proximity to burgeoning IT-dominant areas. 

Kolkata

Although the cost of housing in Kolkata increased by 7% annually, prices fell slightly on a quarterly basis. This drop is attributed to significant sales and new launches in the affordable housing sector in Central and Southeast Kolkata. 

East Kolkata saw a 23% increase in prices, while Outer Kolkata continued to see the highest annual price growth at 26%. The affordable and mid-segment accounted for over 63% of the unsold units, the majority of which were located in East Kolkata.

MMR

In MMR, housing prices increased by an annual 6%, with micro markets like Island City seeing a notable spike at 16% YoY, followed by Panvel. With the commissioning of the Mumbai Trans Harbour Link, Navi Mumbai, too, had an annual rise of 10% (MTHL). There were notable project launches in the premium and ultra-luxury segments in Island City.

While 3–4 BHK flat prices increased 3-6% YoY, 1 BHK unit prices were down an annual 5%, suggesting that the demand for spacious homes is still strong. Most of the 97% of unsold homes were in the mid and affordable segment and were all under development. 

Pune

Pune’s housing market saw a 13% annual increase in prices due to noteworthy launches in the high-end luxury class. The two micro markets with the biggest YoY price increases were Camp and Baner, with a price hike in the range of 20-23% YoY. The highest price increases were observed in 2BHK and 3BHK units, at 10% YoY.

Chinchwad was accountable for 42% of the unsold units, with the majority falling into the affordable and mid-segment categories. Residential activity in Baner, Chinchwad, Shivaji Nagar, and Nagar Road is expected to increase due to impending commercial developments and infrastructure projects like Metro Line 3 and Pune Ring Road. 

According to real estate experts, housing prices will likely continue to rise due to anticipated reductions in lending rates later this year.

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If you want to visit, the newly opened Ved Van Park is in sector 78 in Noida. Construction began in January 2021, and the park’s soil was compacted as it was built on a former trash yard. 

Ved Van Park is a unique spot for fun and constructive activities with friends and family. It offers a wide range of amenities and areas for recreational facilities while rejuvenating the Vedic beliefs and culture with its theme. 

Ved Van Park Features 

The Ved Van Park in Noida Sector 78 has ample greenery with several modernized attractions for visitors. The entire construction project was completed with a total cost of Rs 27 crores. 

Interestingly, the park has sculptures and murals representing Atharva Veda, Yajur Veda, Sama Veda, and Rig Veda. Furthermore, the park has technologically advanced attractions, like sound and laser displays, for entertainment purposes. 

Another special feature of the park is that it has over 50,000 plants. This includes the banyan, kalpavriksha, and coconut trees. These plants are explained in Vedic literature, further strengthening the park’s theme. 

Moreover, the park has the following seven zones, each named after a prominent Vedic sage: 

• Agastya 
• Kashyap 
• Vishvamitra 
• Atri 
• Gautam 
• Bharadwaj 
• Vasishtha

You can browse through educational exhibits containing sacred texts that outline the life of every sage, along with Vedic teachings.  

Upon visiting, you’ll notice the park walls have colourful depictions of scenes from the Vedas. 

What’s more, is that the Ved Van Park in Noida Sector 78 has a gym and an amphitheatre powered by solar energy. Those who wish to practise yoga can carry on with their plans and seek inner peace in the park’s meditation gardens. 

You can also visit the Vedic Knowledge Center in the park to quench your thirst for Vedic literature further. You may even indulge in productive discussions and workshops on different topics. This includes traditional Indian music, Ayurveda, and Vedic astrology.

Read More: Top Things To Do In Noida

Location and Timings of Ved Van Park

Coming to the park’s exact location, you’ll find it on Ved Van Road inside Assotech Windsor Court in Noida Sector 78. The nearest metro station to the park is Sector 101 on the Aqua Line of the Noida Metro. Visitors have easy access to the park from the station as it is only a drive of 5 minutes. 

Moreover, while you’re exploring the beautiful locales of Noida, it’s worth noting that this city is also home to some of the iconic residential projects. ACE Group is a well-renowned builder in developing luxury residential apartments in Noida. 

They have made a name for themselves by delivering luxury residential projects that surpass the expectations of their esteemed clients. If you’re interested in experiencing the epitome of modern and comfortable living, connect with ACE Group. 

Their projects are not only architecturally sound and aesthetically pleasing. They are also equipped with the latest amenities and located in prime areas of the city. 

Getting back to Ved Van Park, the park’s timing is 8 AM to 9 PM, so remember that before planning a visit. If you want to catch the laser and sound display at the park don’t forget to reach by 7:45 PM.

To sum it up, the newly opened Ved Van Park in Noida Sector 78 is an ideal blend of Vedic culture, nature, and hi-tech features. 

So when will you be visiting India’s one-of-a-kind theme park?

Ved Van Park is simply an addition to Noida’s modernised development projects aimed at uplifting the lifestyle of the city’s residents.

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These amenities add convenience and comfort to residents’ lives, allowing them to enjoy an enhanced lifestyle. When comparing luxurious apartment buildings with old independent housing societies, the latter undoubtedly falls short in providing a wide range of recreational services. 

The sudden boom in India’s luxury housing market is the result of increased demand for large residential spaces after the pandemic. What’s important to note here is that an economic slowdown in 2019 halted the development of luxury residential properties, and the pandemic further fueled the decline in the housing sector in 2020. 

Read More: The Astounding World of ACE Parkway

However, it seems that the industry is finally recovering rapidly with several renowned real estate builders in Noida indulging in the development of lavish luxury residential apartments with equally impressive amenities and designs. 

Luxury Housing Market In 2022

Research by Anarock shows that 17% of all houses launched in 2022 had a selling price of more than Rs 1.5 crore. On the other hand, the development of affordable homes with a selling price of less than Rs 40 lakh declined significantly.

The demand for luxury residential real estate is driven by people having better affordability and wanting bigger spaces with equally helpful and entertaining facilities. Considering last year’s stats, there was a drop of 21% in the supply of affordable housing in the top 7 cities in the first three quarters of 2022. 

In contrast, the total housing sales of apartments priced over Rs 1.5 crore doubled in the first half of 2022. It is safe to say that developers are noticing drastic changes since all their under-construction units of spacious and luxurious apartments are getting sold before launching. 

Needless to say, the market for luxury housing will be the primary driving force in taking India’s real estate sector to its peak in 2023. 

What this means is that investing in a modern and luxurious apartment in Noida will prove beneficial in the short and long run. Mainly because things are looking up for the country’s luxury housing market.  

A Look Inside The Best Luxury Residential Apartments In Noida

A good thing about looking for Noida’s luxury property is that you’ll find so many of them across different sectors of the city. Plus, every property is equally grand and magnificent, spacious rooms, convenient parking facilities, clubhouses, and more. 

ACE Parkway is one example of a lavish residential property in sector 150 Noida. It offers apartments and penthouses with all the amenities you want in your next home. Apart from providing 51 sports facilities, it also has a temperature-controlled indoor swimming pool to help you stay in the best shape of your life. 

Another project that can make your investments worthwhile is ACE Divino. Now, this is a completely unique residential project in Greater Noida West. It has state-of-the-art security, modernised design, and all the amenities you expect from today’s luxurious apartment projects. 

The quality of work that’s been done in the development of ACE Divino is commendable. Especially since the developers left no stone unturned in making this one of the best apartments in Greater Noida West. 

In case you want to look at more options, consider adding ACE Starlit to your list. It is among the most exclusive residential properties in Noida Sector 152, with expansive homes, exquisite flooring, and a highly convenient location. 

Think of a facility you believe a luxurious apartment must have, and ACE Starlit will already have it. This project is designed to meet the specific demands of today’s customers looking for the ultimate place to start their new lives. 

So, don’t let the opportunity of investing in luxury residences slip through your fingers. Invest today in the hottest residential developments in Noida’s luxury property market.

For more information on ACE Group’s latest residential apartments in Noida, contact us. 

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Noida (New Okhla Industrial Development Authority) is a metropolis that has been meticulously planned with both residential and commercial projects working in tandem to build the city. If you are looking to buy an apartment in Delhi NCR then Noida might interest you the most. Living in a property in Noida provides excellent work prospects, conference centres, and now, a new airport. As a result, many IT/ITES set up their offices and centres in Noida.

This thoughtfully planned town is now shaping as India’s most innovative city, the National Capital Region’s most advanced urban development hub, and its fastest-growing tourist destination. It has developed as a modern paradigm of long-term urban planning. Noida is being built as a Metro centre to attract economic activity and people to decongest Delhi.There are several career opportunities in Noida these days. Many IT and ITES have established themselves in the city, and the number of prominent corporations is expanding, increasing work prospects. Following the completion of the airport at Jewar, many MNCs would have the reasonable option of locating in Central Noida, Noida Expressway and Noida Extension.

Let’s look at some important reasons that favours Noida these days.

New Airport

Jewar airport is presently the most buzzing new development in NCR. Work on the same began in December 2018. This airport will be one of the largest in India in terms of area. And the first phase of the project entails the building of 4 thousand acres, with subsequent stages involving the development of the remaining space. This airport will open a new gate of connectivity for everyone making Noida more attractive for IT and ITES.

Infrastructures that calls for your attention

Noida is one of the most well-planned cities in India. It has world-class road network, including the Yamuna Expressway and Noida Expressway. The Yamuna Expressway is a world-class road expressway, and all of the city’s sector highways are likewise reasonably broad. Several parks, renowned hospitals, famous schools are all present in Noida making it a residential paradise as well as preferred choice for business. The city’s futuristic transportation involves the extension of metro lines and highways. Unlike other metropolitans Noida is also blanketed in vegetation and vast green areas.

Investor’s paradise

Noida can provide a very high ROI based on the kind of projects that are taking place in the area. There is a significant pricing gap between projects in Noida, Gurgaonand Delhi. However, with the anticipated infrastructure and government measures, the gap is expected to narrow down dramatically over the next few years. So, the clock is ticking and this might be the best time to invest in properties in Noida.

To some up, you must take a noticethat within a short span of time Noida has emerged as a modern model of far-sighted town planning, making it an ideal city for setting up more and more IT/ITES. 

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Mainly talking about Faridabad, the city will be connected to Noida International Airport by a highway from the under-construction Delhi-Mumbai Expressway, decreasing travel time to less than 30 minutes – the time necessary to reach IGIA, Delhi. Hence, the city would be accessible to two international airports. Furthermore, unlike the Yamuna Expressway, where the Airport will be built, Faridabad already has a micro-market. As a result, the former has a better chance of increasing value than the latter.In Noida and Greater Noida, the sectors near the Airport will have a high rise in property prices because of the connectivity. However, in addition to the Airport, other infrastructure projects in the surrounding areas, such as IT parks, industrial corridors, film city and more are expected to boost the real estate market during the next decade.

So, if you plan to buy a property in NCR, it would be best to consider the properties in Noida and Greater Noida available near the new Airport as they expect high ROIs these days. Moreover, the region’s wealth of open land parcels and pre-existing infrastructure offers real estate developers and investors a variety of opportunities. Thus, opening a new window to world-class buildings and apartments for you.

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Not just this, the city is widely known to be the largest planned industrial townships of Asia, which even provides some of the best in class luxury apartments in Noida expressway. Now who wouldn’t want to live in a place that offers unmatched infrastructural prowess, splendid lifestyle, spacious residential apartments and a network of facilities to make people’s lives luxurious and peaceful, all at the same time.

Real estate as an asset class has reached up to a point where people view investment in property as a way to leave the hustle of the city and find more serene and spacious regions to spend their quality time. Due to this, the concept of a “second home” has gained prominence in recent times.

To combat the pollution, stress and overcrowded areas around the National Capital Region, projects in sector 150 Noida offer a pleasant respite to home buyers when it comes to elegant, high standard living. Despite the fact that metropolitan cities have a lot to offer, they have taken the serenity of life. Noida has thus emerged as the land of new opportunities for people who wish to have a residence in a pollution-free and stress-free atmosphere.

Keeping all these things in mind, new housing projects in Noida Expressway by Ace group, ‘The choicest real estate developers of North’ have changed the game with their premium residential and commercial avenues. Noida being a planned city makes it stand out from the rest. With spacious housing at affordable prices amidst the greenery of nature, connection to an expressway and a plethora of other amenities, the flats in Noida Expressway have made life easier and healthier for people.

Imagine having a place of your own where chaos has no bearing and facilities such as airports, rail connectivity and other civic amenities are just a step away. Planned very methodically and meticulously, Noida can make this dream a reality. The new sectors of Noida hold a promising future for people who prioritize luxurious comfort over anything else.

With the real estate sector developing at unprecedented levels, it has become necessary for people to consider alternatives where they can balance between their professional duties while relaxing in the comfort of their luxurious abodes. Right from high-end accommodation to budget residential and commercial spaces, Noida has everything in store for everyone.

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According to a global survey conducted by Gartner, Inc, it was found that as the virus started to take a toll at exponential rates, about 88%of global companies mandated or encouraged all their employees for remote work.

These new developments have shown a noticeable impact on all industries, including the India real estate sector. New-age millennials – an incredible 92%– are now snowballing on the recent growth trajectory of home-ownership because of economical home loan rates that also helps in rendering a big sense of security.

Currently with over 6.44 Lakh homes available for sales (in top 7 cities), here’s what promoted this enormous demand in the home buyers’ market:

1. Willingness to untether from areas closer to work-place

Individuals are not hesitant to house-hunt in areas that are more spacious, contemporary, and have an elevated ambience as opposed to looking for houses around their offices during the pre-Covid era. Convenience and travel-slump are two aspects that pushed the popularity of peripheral areas.

2. Affordable home loan rates

 Despite the fear of decrease in income of the target audience due to unemployment/uncertainty, over 36% respondents showed significant fondness for properties worth Rs. 45 Lakhs. Indian government’s initiative to lower the interest rates in the housing sector makes it a favourable time for home-ownership, which the properties in Noida are giving a decent response to

3. Sense of security by owning a home

 Renting a space leaves one to the whims of the landlord. However, the option of owning a house provides more stability especially during exigencies like the pandemic. Coronavirus and remote working went hand-in-hand in altering our lives. One cannot deny the permanency of this new norm.

For example, some buyers are encouraged to own quality flats in Noida Extension without paying heed to the distance from their offices. It allows them to save a lot of time & avoid the use of public transports.

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