Well, look no further. We have done the market ground research for you to form a well-rounded opinion.
Best Timing: Let us tell you at the outset, this is the best time. In the last two years, the real estate market has undergone its own share of turbulence with the impact of Demonetisation, Real Estate (Regulation and Development Act) / RERA and Goods and Services Tax, landing one setback after another. The Real Estate prices plummeted in 2017 with an average of 3% across cities. In short, today, it is a buyer’s market out there, ripe for plucking.
Best Price: The weighted average price in Delhi – NCR region is down by 2% in 2017, as the market corrected itself, after registering some steep rise before 2016. On the other hand, developers are vying against each other to offer the best discounts, in the rage of 10-15%, tempting enough for the fence -sitters to bite the bullet.
It is note-worthy, at this juncture that there has been a record number of project launches in the second half of 2017, which fore-tells that the worst in real estate sector , may be over. So, if you are a serious prospective buyer scouting to buy Apartment in Delhi NCR, in such a scenario is bound to take off once again and any further dilly-dallying may prove to be an expensive proposition, at a later date.
Affordable Housing Schemes: What comes as a breath of fresh air to the average homebuyer is the availability and range of affordable housing options in the market which has registered a steep increase of 32% in terms of market share in 2017, as compared to 2016.
This long awaited drop in home prices signals a healthy step towards market recovery and in tandem with reduction in unit sizes, better compliance with government regulations, transparency in transactions will enable more affordable housing options and will eventually reflect in a better foot-fall in this market segment.