Luxury and Super-Luxury Sectors Back In Realty Market

Bangalore: Delhi-NCR region is witnessing healthy movement in real estate market and places like Gurgaon, Noida, Greater Noida and Faridabad to name a few are receiving the maximum growth and improvement.

With the recovery of the real estate market, such places are observing huge number of new residential projects which in turn is fuelling the demand for affordable, luxury and ultra-luxury sectors, reports TNN.

The real estate industry is witnessing demand in luxury and ultra-luxury property due to the government’s support and incorporation of innovative concept by developers. As a part of the reform agenda, the government is all set to give real estate sector an industry status after a long wait. With this government’s measure, the sector can access cheaper funds from banks and will help the industry to grow further.

The volatile real estate market has created sense of insecurity among potential home buyers in the same period last year. But, with the recovery in the market, home buyers are now showing interest to invest in real estate. Besides, the festive season is going on and developers are offering residential projects under luxurious and affordable pricing, which is led to the increase in demand for property.

Moreover, CREDAI-NCR, an apex body for real estate developers and builders hosted a property show lately for potential home buyers and investors to make them acquainted with the current real estate market scenario. Also, the apex body has set up a consumer redressal forum to protect buyer’s interest where buyers can register their complaint on issues related to wrong realty transaction and malpractices.

Also, prominent developers are launching their projects in this region which is increasing the demand at a fast pace. Some of the projects are like Antriksh Group's Antriksh Golf City, Hines' Skyview Corporate Park in Sector 74A-Gurgaon, SARE Homes' Springview Heights, Wave Infratech's Wave City and many more.