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Fall And Raise in Noida Real Estate Market in 2015
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India’s real estate market in 2015 witnessed a fall in property prices, slowdown in demand, an increased inventory collection and displeasure among the real estate industry players.

With a multi-year slowdown continuing in 2015 despite rich supply and fall in prices, the real estate market is desperately looking for a recovery in the New Year when a new law is also expected to herald the most-needed transparency and liability in the sector.

According to real estate experts ,the housing sales have remained flat this year despite 15-20 % fall in prices and multiple leverage in interest rate ,while a superfluity continued in the market because of investors still sitting on old inventories.

However, the Union Cabinet’s approval of the Real Estate Bill in early December is expected to set the pace for the real estate industry in the coming year.The decision of constructing FNG flyover ,Meerut Expressway and proposed metro to connect delhi/ncr will become a milestone in the growth of real estate in delhi/ncr.
2015 has been an interesting year for capital market activities in real estate. While the PE focal point is continued to remain high on residential and office projects, individual investments and platform-level deals also came into the limelight, indicating high confidence level of investor. In terms of positive feature, residential projects attracted a considerable share of funding; however, equity investment in this space is still irrelevant.

The previous twelve months, however, unable to bring any delight to the real estate market with the stack of inventories and buyers taking a backseat largely on the account of delay in projects.Housing sales, which stood at 1.75 lakh flats during last year in the primary markets of seven major cities, are likely to be more or less same level in 2015.According to property consultant sales were marginally down to 1.16 lakh apartments in the first nine months of this year.

Launches of new homes reduced drastically this year, still over 6 lakh housing units remain unsold in eight big cities. According to property consultants, 2015 did not bring the hoped-for the intensification in residential real estate. However, the silver lining is that the bad days seem to have bottomed out; sales have picked up in a few cities like Hyderabad, Bangalore and Mumbai. Launches have reduced in cities, slightly lowering the inventory. Developers’ initiatives like offering attractive schemes and deal terms, coupled with lowering of interest rates by the Reserve Bank of India have activated fence-sitters.

The commercial office sector rebounded with some large leases and buy-out transactions witnessed during the year. Companies are firming up expansion and consolidation plans, leading to increasing leasing activity as they foresee higher potential and increasing business activity. JLL data showed that India’s commercial space absorption during 2015 stood at 35 million sq. ft. – the second-highest figure in the country’s history after 2011. While pan-India vacancy still stands at 16 %, realistic vacancy actually stands around 8 to 9 % – the total vacant supply is not relevant for all time to the corporate occupiers. Rents rose across Indian cities in 2015.

SK Sayal from Bharti Land Limited also believed that the commercial segment performed relatively better than residential. The opinion leisurely becomes optimistic, 2016 is possible to see better demand for commercial and residential property. Come 2016, the realty sector may witness its delightful recovery as fence-sitting home-seekers finally take the plunge to purchase their dream homes. As regards reforms, it was a year of mixed fortunes for realty industry.

The year 2015 also noticeable for investments in the real estate sector, with private equity (PE) investments touching new highs since 2008, indicating growing optimism in the real estate market. According to Cushman and Wakefield estimates, near about Rs 18,700 crore had been invested by private equity investors in the real estate market till end of September. Further add to that an estimated Rs 30,500 crore, of NCDs —end of November 2015 — and the tally is also raised up 74% over the last year’s Rs 17,600 crore.

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