Owning a house is biggest and hardest dream which resides in every eye. But are the market conditions favoring your buy decision or should you wait and watch for some more time.
I am of the opinion that each property zone viz gurgaon, faridabad, noida etc has there own market economics and zones, so they should be looked at from very disjoint perspective. For example in gurgaon avg under construction 2bhk will cost you around 70-80lac, while noida will fall in range of 50-60 and faridabad will 10-20 lacs cheaper. So, lets discuss each market individually.
I will start with Gurgaon, the millenium city of India. Prices in gurgaon has seen the steep hike in last decade where property rate has grown tremendously for my comfort. The rate on which current market is operating looks unreasonable and unsustainable. The market is mainly driven by investors and hence rates are currently holding up, even in the scarcity of buyers. The supply is not an issue in gurgaon with dawarka expressway coming up, sohna road and greater or new gurgaon, which makes these exponential hike in prices even more surprising. I think gurgaon market is definitely staring a correction. If i am buyer in gurgaon I will definitely wait as current rates of property will make me comfortable only in renting a property rather than buying one.
Noida has been the steady market rates has been as bullish as gurgaon (offcourse noida doesn't have international airport near it). Noida as city appeals to me in terms of infrastructure and planning. The most of space in noida has been exhausted (as authority doesn't have enough space to allocate to farmers as per court's decision). Which makes me believe the best of noida yet to come. 2bhk in noida from decent builder still costs you around 50lacs.
But even if you are looking for buget houses and have time horizon of 5-10 years, yamuna expressway, noida extension and greater noida will interest you.
Faridabad is situated right between the Noida and gurgaon. It has a strategic placement in NCR and with greater faridabad has well planned sectors or a sub city as i would like to call it. With the price tag between 30-40 for 2bhk. It makes perfect sense to buy a property if you have limited budget, because prices will only increase from here. The main disadvantage with the city is NO IT parks.
The areas of interest might be manesar, bhiwadi, raj nagar extension etc., these areas are good residents who are working near these places or have time horizon of 5 years at least.
I am of the opinion that each property zone viz gurgaon, faridabad, noida etc has there own market economics and zones, so they should be looked at from very disjoint perspective. For example in gurgaon avg under construction 2bhk will cost you around 70-80lac, while noida will fall in range of 50-60 and faridabad will 10-20 lacs cheaper. So, lets discuss each market individually.
I will start with Gurgaon, the millenium city of India. Prices in gurgaon has seen the steep hike in last decade where property rate has grown tremendously for my comfort. The rate on which current market is operating looks unreasonable and unsustainable. The market is mainly driven by investors and hence rates are currently holding up, even in the scarcity of buyers. The supply is not an issue in gurgaon with dawarka expressway coming up, sohna road and greater or new gurgaon, which makes these exponential hike in prices even more surprising. I think gurgaon market is definitely staring a correction. If i am buyer in gurgaon I will definitely wait as current rates of property will make me comfortable only in renting a property rather than buying one.
Noida has been the steady market rates has been as bullish as gurgaon (offcourse noida doesn't have international airport near it). Noida as city appeals to me in terms of infrastructure and planning. The most of space in noida has been exhausted (as authority doesn't have enough space to allocate to farmers as per court's decision). Which makes me believe the best of noida yet to come. 2bhk in noida from decent builder still costs you around 50lacs.
But even if you are looking for buget houses and have time horizon of 5-10 years, yamuna expressway, noida extension and greater noida will interest you.
Faridabad is situated right between the Noida and gurgaon. It has a strategic placement in NCR and with greater faridabad has well planned sectors or a sub city as i would like to call it. With the price tag between 30-40 for 2bhk. It makes perfect sense to buy a property if you have limited budget, because prices will only increase from here. The main disadvantage with the city is NO IT parks.
The areas of interest might be manesar, bhiwadi, raj nagar extension etc., these areas are good residents who are working near these places or have time horizon of 5 years at least.
