When India’s economic growth rate is going to touch 7% per
annum , we find many changes in the demand and supply. In the following lines
we are going to discuss the demand scenario in real estate sector Delhi-NCR. At
the same time we will discuss the causes and effect of newly emerged demand and
supply scenario. There are two major regions in Delhi-NCR ,which got huge
success after the globalization and at this juncture of 7% rate of economic
growth, these regions of NCR are becoming international destination. These kinds
of facts have raised the demand of real estate projects in these regions. As
these demands are created by MNCs , so the demand of residential projects have
been quite changed. People have got high purchasing power and which lead to imbalances
in demand and supply in real estate sectors of Delhi-NCR.
The personals of big MNCs having high salary, they are
demanding residential villas and duplex in these regions while the real estate developers
have more concentrated 2BHK and 3BHK luxury apartments and due to high
purchasing power of buyers in this region , now they shifted on independent
villas. This kinds of flooding demand of residential villas in Delhi-NCR has
raised the prices of villas in this localities. Many big real estate developers
are planning to launch ultra-luxury residential villas projects in this region.
It is hoping that in coming year these kinds of imbalances will be rectified
and demand and supply will be balanced. It is also expected that if Indian
economy would grow faster than 7% rate then some new demand line will be
emerged in the real estate market of mega cities of India. So , considering
this aspect , some luxury projects like Ansal Amantre are being upgraded to
international standard. It is hoping that these kinds of move will definitely bring
new horizon in the real estate market of Delhi-NCR.
If we talk about
other field of economy then we are able to rectify it soon but due to high
gestation period in real estate development, it will take time to correct the
demand and supply in real estate sector. It is hoping that if India would be
able to continue her economic growth rate then we can find some infrastructural
development gap. So, government is very keen to develop some other regions
beside Noida and Gurgaon. The Urban development authority of India taking new
initiatives to develop new region in outskirt areas and fast communication will
be the highest priorities in these region. It is hoping that these kinds of
plans will make India a developed nation.
