A famous saying in Real Estate “Don’t wait to buy a Real Estate, Buy Real Estate and then wait”
A real estate is more than just houses; it even includes commercial properties, condominiums and open land in addition to just single –family homes.
Real Estate saw a boom in the market from the year 2008-2013. These years in particular especially Noida and Greater Noida saw many new players (Like Jaypee Infratech, Gaursons India Limited, Wave Infratech etc.. along with small players) entering into the market and offering a combination of 1/2/3/4 BHK apartments along with various amenities that can change the life-style of a common man along at very attractive prices to fit into the budget. This not only benefited the common man but also the dream of having his own house in NCR started becoming possible.
The Real Estate industry even became one of the most prominent sectors in employment generation. People from different industries and varied experiences came and joined the industry and gradually the face of industry stated changing from a traditional property dealer to a professionally managed industry. This was the time when residential apartments / plots were more in demand.
The demand for residential units continued in the same pace for another 3-4 years i.e till 2012. Ever since 2013 mid the demand for the residential units started slowing down due to fewer new launches and very few “fresh land allotment” by the Noida Authority. The developers were all supposed to deliver the project by this time which was launched way back in 2008-09, but eventually it did not happened in time and almost every project suffered a delay of one or two years in particular, due to some external and internal factors. The market took some time in actually understanding that there is an oversupply of residential units and the toughest task of delivering those units are still not completed.
The prices then were at its peak and all those residential units launched at an average price of Rs.2500/- PSF way back in 2009-10, were now asking for a price of almost Rs. 5000/- PSF and even more. The bubble was about to burst in couple of months and it actually started towards mid-2014.
This was a typical transition phase for the sector wherein it was considered that, “NCR market is Builder and Brokers driven and buyer is not a king.”
Gradually when the sales took a dip and all those directly or indirectly associated with the Sector started feeling the heat in their earnings, the market was lured with various tailor made payment plans, offers, amenities, foreign trips and lately the price cuts. The Market even understood and accepted that the “Buyer was and always remain the King”
Now, with ample options of ready to move, under construction and fewer fresh launches along with very fair prices available, this is the time when an end user who has a dream to owning a house in NCR can still come true.
Current Market Scenario:
As we have said a lot about Residential units and their benefit, the demand for the residential units will always be there depending upon the choice and requirement of the end user with the variety of options viz, Ready to Move, under construction etc..
So where the Real Estate Market is Heading and what is the future of this Industry?
If we look around and analyze almost every im-movable thing is a real estate viz, house we live, office where we work, Land etc.. As and when, with the time the demand for Real Estate will keep on increasing and decreasing.
Right Time to Invest:
Real Estate is an Investment Zone, where there is a common believe that the money invested now will fetch a better return tomorrow, even better than investing in SIP’s, Mutual Funds, Fixed Deposit and other traditional investment tools available in the market.
So with the market scenario which is the better option Apartment Plot or Commercial and where?
The current market scenario is more favourable in investing into commercial. There are plenty of options available to choose from.
Investing in commercial property viz Retail space, Office Space or Serviced Apartment is new talk of the town. It seems that, for majority of the people the quest for investing into residential unit has been put to rest because of oversupply of the residential units as well as low rental value or lower Return on Investment (ROI)
Wherein the commercial property with better payment plans, assured returns along with lease guarantee which starts with minimum of 3 years and can extend upto lifetime along with the lower price range gives an edge to even small investors to put their money and create a property which can assure them with the rental income for life time. The ROI (Return on Investment) is quite high as compared to residential unit.
Apart from this, Noida Market is something which attracts a better return with lower purchase value. Slowly the market for Office Space and Retail Space has caught an attention from the buyers and even from the big business houses for the rental space as everybody starting from an individual to big corporate house is looking for cost cut in order to enhance their earnings.
Henceforth Noida Market provides them with an opportunity with lower cost, better developed infrastructure, Transportation system, Lower rentals as compared to gurgaon, Expressways and DMIC (Delhi – Mumbai Industrial corridors).
Now, when everything is put together the answer is Profit. Hence, full marks to Noida Commercial Market.