As per the latest reports, around 75% of realty developers forecast a rise in property prices in Delhi and the NCR (National Capital Region) in FY2018-19. Several reports have indicated a rise in prices in the NCR for this fiscal and the study was conducted amongst 200 property consultants and real estate developers in Gurgaon, Delhi, Ghaziabad and Faridabad.
The optimism of rising prices has been attributed to the increasing levels of stabilization in the Delhi-NCR real estate market. There is increased demand for properties now with the market having recovered a little and hence the possibility of this rise in prices. Regulatory developments and policies will also go a long way towards enhancing transparency in the overall sector and this is going a long way towards increasing the confidence of property sellers and buyers.
Experts have stated that 2018 could indicate a major revival of the real estate sector, particularly in Delhi-NCR since more buyers are returning to the property market. With more positive sentiments amongst home buyers in the Delhi-NCR market, there are many people who are no longer sitting on the fence and are coming forward to buy real estate properties.
As per studies, approximately 55% of real estate developers in Delhi-NCR are now planning to start projects in the affordable housing segment. These are housing projects which are priced lower than Rs. 40 lakh. Affordable housing projects will now constitute a major chunk of the portfolios of leading realty players. The number of property enquiries have increased for projects in the affordable housing space as per several studies and reports. This clearly indicates heightened demand in this segment.