Delhi-NCR’s real estate is reviving. There are new launches than the past few years.
Worst is over:
- First economic slow down, then demonetization, RERA and GST had hit the real estate sector in the region.
- Nearly 1.5 lakh flats were unsold. There is hope. New launches increased by 46% than last year.
- However, most of the launches are below INR 50 lac ones.
How does it impact Delhi-NCR:
- More launches mean more construction activity. It leads to more people getting employed.
- After agriculture real estate employs most number of people in the economy.
- Since Delhi-NCR added more office spaces than residential, expect the offices to be available at reasonable rates.