It was expected that rising interest rates would bring down the property prices in real estate. But the last quarter has seen the realty prices hitting highs in almost all the major locations barring of course Hyderabad and Kochi.
Noida has been in news for SC ruling which mandated the commercial units like banks, nursing homes and coaching centres to move out of the residential areas. The sealing drive began in the first week of Feb 2012, sending jitters amongst the common folk as the mad rush to empty the bank lockers resulted in people thronging to banks. Roughly 100000 lac locker holders emptied their lockers in about a weeks’ time apprehending some serious troubles.
Real estate market has in fact grown in Noida at phenomenal rates and has almost hit the peak levels of 2006-07. The stoppage of work in Noida Extension has led to steep increase in the prices of flats in under construction apartments in Noida.
Today the per sqft prices in Noida real estate at some locations have even touched 8000/-. This has made realty unaffordable for the common middle class while at the same time has brought windfall for the real estate investors.
The prices in the coming months would continue to witness steep rise. The poor infrastructure in Indirapuram and Ghaziabad has also contributed to the realty boom in Noida. Strategic investments even right now would bring in handsome benefits for the investors. A word of caution do your homework before taking the final plunge.
Image Courtesy thinkpanama