20th January 2016, a Google hangout session was organized by Magicbricks.com in which Mr. Sharad Sharma, who is the vice-president at Wave Infratech answered the queries of property seekers who wish to invest in real estate in Delhi-NCR. The questions were posed by the audience to know about the best location, current prices, and future appreciation prospects of the properties.
Let’s take few key questions which determine this hangout session:
Q: What is the current situation of Real Estate in Delhi NCR?
A: There are sub-markets in Delhi NCR like Gurgaon, Noida, Greater Noida, Delhi, Noida Extension, Rajnagar Extension and NH 24, which have done quite well in 2015. And there is hope that it will do much better in 2016.
Q: Sagar asks: Real estate market in Delhi did not do well in 2015, the unsold stock is available in the market, what are the prospects in 2016?
A: Noida extension has been doing well in terms of sales and amenities, 2016 will see a good number of sales all over.
Q: Surbhi asks: Is investment on NH 24 a good idea?
A: Yes, NH 24 will be broadened and metro connectivity is planned along it, hence it’s a good idea to invest on NH 24.
Q: Kriti asks: What should be kept in mind if investing in a new location?
A: We should keep few things in mind like occupancy in the project and area, upcoming infrastructure, and amenities we want to have for ourselves.
Q: Mr. Dua asks: Expressway is less occupied, should I lease out my property or sell it and buy a new property in a well-occupied place?
A: You can rent it out, it will give you better returns than FD. Occupancy will be higher in the coming time, you should wait.
Q: Sahil from Ghaziabad asks: I want to buy a home, but I am confused between Ghaziabad, Rajnagar extension and Crossings Republik?
A: You must see the location, price and connectivity of all the locations. Crossings Republik is closely connected to Noida, so Noida is bound to do better.
Q: Arnab asks: I invested in property in 2014 and waited till 2015, but there is not much appreciation since then, what to do?
A: Second half of 2016 will be better than 2015, the basis of this statement is that the second half of 2016 will see possession of many projects, so the value of the property will rise.
Q: Pooja Sharma asks: I am interested to know the future of Greater Noida?
A: Metro connectivity and good public infrastructure will be there, so it has bright future. It will prove to be a good decision to invest in Greater Noida.
Q: Priyank from Chandigarh asks: One of the brokers told me that prices of property in Noida and Noida Extension are going to rise soon, will this happen immediately?
A: In the next one and half year, when the builders start delivery of their projects, around 500 to 600 per sqft may rise.
Q: Ramesh from Delhi asks: I have 40-70 Lakhs at my disposal for property, where can I invest in Delhi NCR, what about Greater Noida?
A: So, with 40-70 Lakhs, property in Gurgaon is not possible, probably South Gurgaon, Noida Extension, Greater Noida or Expressway can offer best in this price range.
Q: User asks: Why one should go for Noida, how is it different from Gurgaon?
A: Noida has a completely different price category, Noida’s progress is faster, Noida is low budget segment, there is and will be comparatively better metro connectivity, no scarcity of power and water.
One should go for Noida for mid-budget, for higher budget, Gurgaon is preferable.
Q: Sonali asks: What are the expectations from Wave group?
A: Wave Group has projects like Wave One, Wave City Center, which are residential as well as commercial. These projects have higher land value, so are the appreciation prospects. And we have Wave City on NH 24.
Q User asks: Should I go for Ready to move-in or under construction property?
A: Before coming down to any decision in case of under construction property, you should get to know the history of the builder, status of construction, land approvals etc.
Q: User asks: What are the current deals in Wave City at NH 24?
A: We have Dream Homes, Wave Executive floors, Wave floors Premium and Wave Galleria(commercial) in the Wave City at NH 24. Dream Homes are available in 15.99 Lakhs where you can book by just 1 Lakh, possession within a year and it’s an AC flat.
Q: User asks: What is the source of water in Noida?
A: Water for projects comes from Treatment plants and Noida’s drinkable water is mixed-Ganga water.
Q: User asks: What approvals need to be checked before finalizing an under construction property?
A: You should check Lease deed, Project plans, permission of construction, plus there should be some development on the site. In case of Gurgaon, check with HUDA.
Q: User asks: How to decide on location?
A: Depends, whether it is for personal use or investment,
Q: User asks: What is the better accommodation for family, independent house or apartment?
A: First of all, it is the budget. Gated society has security and many other common facilities like park, swimming pool, common area.
So, these were the key takeaways from this expert session. The discussion covered all the important issues and queries an end user and investor can have. Hope you enjoyed the discussion.
In case you have more questions, just ask us, there is always an expert to answer you.
Special Thanks to: Magicbricks.com