For the middle income masses here is good news. Under a newly launched residential scheme, the Greater Noida authority is offering the middle-income group a rare opportunity to book and own exclusive, independent, expandable and well finished houses.
Call it a silver lining in the bearish market. Your dream home may become cheaper than it appeared earlier. With buying activity at a low in the residential market, real estate developers are offering scheme like EMI holidays (between booking and possession of property) to drive demand.
Those who missed out on the real estate boom last year don’t have to worry much as the present high in the real estate sector is likely to continue in 2008.
It is a commonplace knowledge that the growth in a traditional sector like real estate is fuelled by the overall economic growth and environment. And if analyzed in the India context, this symbiotic relationship becomes much clear.
There was a time when it was difficult for outstation students and
working professionals to find paying guest accommodation in the
capital. But now there are paying guest houses all over Delhi and their
number is increasing.
The real estate sector in the National Capital Region (NCR) has seen a
tremendous growth in the recent past. This trend is expected to
continue for the next few years. This may be due to the integration of
the Indian business with that of the rest of the world.
Delhi is witnessing an unprecedented boom in shopping malls. It is leaving behind all other metros in this area. We are witnessing a kind of mall mania in the country which is spreading to tier 2 cities also. This boom started in the West 15-20 years back and has come over to India due to its recent economic boom.