Tuesday, 6 June 2017

High demand for residential Flats

After the new Union budget’17-18 proposed by the finance minister, Arun Jaitley on 1st February 2017 the real estate sector have shaken its skeleton especially in markets like Noida.

Colliers Residential Property Market Overview 2016’ highlights titled that a huge and significant group of people are now finding Flats in the Noida-Greater Noida expressway.

According to Colliers, the downfall in interest rates in home loans up to 8.9% by some banks after demonetization lead to a possible change in residential rental rates in some of the prime locations in the city. This has now increased the number of buyers in Noida and the builders are thus working and planning hard on the next projects to meet the needs of people in prices that can comfort them as well as the consumers. New apartments have already started theirs for completion and possession in prime localities like sectors 28, 29, 37 and 47. The properties prices in Noida are subtly making its residents look out to follow their dreams with buying new houses. After the regular implementation of the housing for all by the government to provide affordable houses, the rates have come down to almost everything your pocket can buy. All the predictions and surveys were made in this quarter.

This, however, has also affected the high demand of 1BHK flats in Noida. Those who were living on rent and now wants to settle down are starting to find it easy to just apply for a home loan and buy a 1BHK flat in the area.