It’s a saying that with each infrastructural development the property prices rise in the vicinity. In some cases, we find it right as well. Let’s explore the same in the peripheral of Delhi – Meerut Expressway, as this has become the talk of the town. Our analysts have done some extensive report and have come up with certain data which showcases various facts about various properties lying within the peripheral of the most sought super expressway.
As the expressway shares the maximum length with Ghaziabad region, it’s apparent to analyze the market. Here are some of the facts for our viewers which gives the further idea to take their decisions.
- There is not much of difference in the property searches compared to last year
- Yes, there was the gradual decrease in the property searches, which has now come to the same level as per last year
- The property searches were down to 25% compared to last year which got picked to almost the same level
- Surprisingly, the searches have grown from the regions like Maharashtra and Karnataka
- When we went for an on-ground reporting, people suggested to us that the property prices in the region have grown in a tune of 8 to 12% after the first phase work of Delhi-Meerut Super Expressway
Raj Nagar Extensions
- The property searches in Raj Nagar extension has increased by more than 35% compared to last year
- We have seen the consistent increases in property searches after elevated road got functional in the month of March’18
- We also contacted some of the reputed builders in the area and they said that after the elevated flyover, we have seen almost 100% growth in walk-ins and our conversion has grown up to 35%
- So, there is a huge impact on the demand for the property searches in the area
- When we asked the builders about the rise in property prices, they said that they have deliberately kept the price same to finish the unsold inventory at the moment. But, they are hopeful that the price will at least escalate to 15 to 20% within 6-month time.
- As there are very few players available in the region, the property searches have grown by 20% in the area
- The market is though yet not price sensitive, but people in the area are quite hopeful to see a spike of around 5 to 10% for plot sale
- We approached builders to know the condition of the market and they suggested that they don’t see the rise in property prices but they clearly see the rise in the number of people enquiring about the property in the market
- In terms of overall property searches, Meerut has also picked a lot. Compared to last year we have seen almost 30% growth in the property searches
- Again, a surprising fact, people from Maharashtra are showing their interest for the properties available in Meerut followed by Karnataka. Within Maharashtra, Mumbai and Pune are top search place followed by Navi Mumbai and Pimpri-Chinchwad
- When we connected to builders, they also have suggested the same trend. When asked about the property prices they said that they are still in the process of filling up their inventories, so they are not increasing the prices as it affects their sales, after all, they have seen the upward trend in property sales after 1.5 years
All these researches indicate that its wise to invest in those locations which are not highly populated and carries future value.
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