The dynamically poised real estate sector in NCR region of India experience multiple up’s and down. It is every north Indian’s dream to have his own co-ordinates in NCR region. It prompted 100’s of real estate companies launched their residential and commercial projects. The rush of starting new project and similarly owning own property escalated the price out of proportion in NCR region. Gurgaon spearheaded the location growth and price appreciation followed by Noida, G.Noida, Ghaziabad, Noida-extension, Faridabad, Manesar, and Sonipat. The infrastructure development of multiple expressway and metro reduce the commuting time and facilitated the opportunities for buyers to buy their dream home even though their office is far away from the same. The massive project launches and few legal issues also interrupted the ecosystem. Many of the companies got entangled in legal issues and their project got delayed due to non-clearance of project plan, issues with land owners, issues with authorities. It resulted in long wait for investors - wait for years and years. In order to clearly hit the goal without hiccups, please remember that all companies operating in NCR regions are not big players like DLF, JP, ATS, Omaxe, Pasavnath, Raheja or Tata-Housing etc. Whenever one is contemplating to buy a property in NCR, validate the company background with successful projects, any legal entanglement, proposed project clearance, land ownership. Make sure that being a buyer of property, visit to actual location as it would give you clear idea about the time needed to develop the area. Always choose Branded developer and it may cost you bit more but rest assured that project would be kicked off. Most of the time buyers are not told about the hidden cost and therefore request for aggregated cost in the form of official communication for your records.
Always avoid Pre-launch or soft launch as it takes years post soft launch by Developer to take multiple clearance from government authorities. Always prefer to invest in on-going construction phase.
Take few months to do your research for the location as there are many good societies in and around prime location. One just needs to have an eye to catch the potential.
Disclaimer: The article is my views and advises all to take their Real estate advisor opinion before investing.
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