Upcoming Projects 2006
The real estate commercial market is expected as follows:
Tier I cities- Almost saturated and approaching its peak.
Tier II cities- Attracting both local and global players with huge investments. Will witness massive development for the next 2-3 years before the market peaks.
Tier III cities- In the inception stage with investments from selected few. Certainly the number of entrants will increase in the coming 5 or more years before a peak in this market segment.
The commercial real estate market is approaching its peak whereas the residential segment is very robust.
Keeping in view the robust market conditions, investments in the real estate sector by overseas investors would continue for the next few years.
There is a risk of supply exceeding the demand in the real estate market in the NCR region in the coming few years.
Property rates in the new sectors of Faridabad are expected to appreciate with little scope for appreciation in the prime land rates in Noida, Gurgaon and
Around eight special economic zones (SEZs) are coming up in Gurgaon. With the SEZs having mandates to develop residential zones will ultimately improve the overall infrastructure quality in their vicinity.
The Sonepat belt is picking up pace and the market is expected to be more aggressive with land rates expected to appreciate to Rs. 25,000- Rs. 30,000 per square yard in the next 5 years.
The property rates in Kundli and Manesar region are expected to move with the same pace with gradual momentum in the next 5 years. Recent announcement by Haryana state government to extend metro services to Kundli will certainly make the area one of the most sought-after destinations for real estate developers and investors.
With the proposed Rajiv Gandhi Education city, in Kundli on the Delhi-Haryana border, this area has the potential of becoming an education hub.
10) With Reserve Bank of India allowing NRIs to remit the proceeds from the sale of immovable property in India, lifting the 10 year lock-up will lead to real estate transactions and investments.