The real estate market in Delhi went through a trauma after being hit by the powerful trio of demonetisation, new real estate regulatory law (RERA) and GST. Sales dipped by 26% and the regions are now struggling to deal with the unsold inventory.
It is estimated that the entire inventory in the NCR would take around 4 years to settle, during which the developers and buyers have to face the consequences. As the economy is taking its sweet time to heal the wound, real estate is one of the strongly smacked segments with uncertain future. The current situation is unfit for the investors to take risks in the capital region. This Diwali a 50% drop in the new housing launches has been observed.
However, as real estate plays a significant role in the daily life of the residents everywhere, here is a list of 5 projects that one should look forward to:
It is planned to accommodate 2500 beds and will be the largest hospital in NCR. It will consist of super specialities sections. The construction is planned to act in accordance with the international green building principles. With zero waste water discharge and quipped to be powered by solar energy, the intention is to minimize carbon footprints. Also, special care is being taken to cover most of the area with plants and water bodies.
Dr Prem Nair, the medical director of Kochi based AIMS hospital said,
“These will include an institute for high-precision cancer diagnosis and therapy, organ transplantation, an advanced centre for neurosciences and epilepsy”
National Highway Authority of India will build Regional Rapid Transit System (RRTS) corridor on NH 1 from Delhi to Panipat, and NH 8 from Delhi to Rewari. The corridors will build 60 mts above Nh1 AND 8. It is expected that the construction will decongest the roads.
By 2018, the country will get to witness the first sunken museum at Humayun’s tomb. The Agha Khan Trust is responsible for the construction on behalf of the Archaeological Survey of India. The galleries will be located six meters below the ground. It will include galleries, library, and crafts center. Based on the designs of baolis, almost 100 objects related to the Mughal era will be displayed.
The township is being constructed by keeping in mind the luxurious lifestyle of the people. It is offering Apartments, Hotels, Shopping Malls, Office Spaces and Recreational Centres inside the complex. High-class facilities are to be provided to the residents. It is expected to become the tallest tower in Delhi NCR.Central Park’s Noida Project
The realty developer central park has entered in the commercial segment with Rs, 2000 crore investment. The mixed-use project will have office space, residential spaces, and retail space. The company is looking to collaborate with a private firm while investing Rs 500 crore initially.
Commenting on this development, Mr. Amarjit Bakshi, Managing Director of Central Park said, “We are embarking on a high-growth trajectory this year. Given our success in residential projects, the commercial segment was the next logical step in our growth strategy. We will infuse Rs 500 crore as initial investment in the project and are in the final stage of discussions with Private Equity (PE) investors for additional capital investments.”