Wednesday, 25 July 2018

NCR Sees Resurgence in Residential Launches with 90% YoY Growth: Knight Frank India

By 121 News

Chandigarh 25th July:-  Knight Frank India today launched the ninth edition of its flagship half yearly report - India Real Estate. It presents a comprehensive analysis of the residential and office market performance of NCR for the period January–June (H1 2018).

Speaking about the findings, Mudassir Zaidi, Executive Director–North said that at a broad level, the first half of 2018 has started on a positive level for the NCR real estate market. The supply side is seen to be upbeat largely because of structural reforms like RERA and GST taking shape.  He said further that this is evident from the fact that many notable developers have launched new projects in the first half of 2018 marking the resurgence of the mid segment ticket bracket. However, a lot of effort needs to be put to re-instill confidence in the buyers who are still wary of the market. Given the market dynamics, we see ready-to-move-in projects to garner interest from buyers, since it gives them the confidence for the delivery of the project. On the office front, we see that the steady demand has brought down the overall vacancy levels with an upward pressure on rentals. Going forward, we believe that the office market will continue to hold onto its current reins.