With current appreciation in the market, this is the fact that most of the buyers and investors have pulled out of this area. The sentiments are at all time low and potential buyers are looking for other realty destination for their investment. Seeing this, many developers and builders are rethinking on their price plan so that they can sell up their inventory holdings in the Noida market.
Most of the time it happens end users tends to buy resale property which are priced almost Rs. 400- 500 per sq. ft. lesser than the builder’s quotes. This leads to lesser occupancy and sale of fresh units. To curb this second hand effect various builders are planning to rectify the price values so that more inventory units can be put on sale and can be moved out faster than resale ones.
This is an age old trend of buying resale properties because of ready to use amenities and facilities to add on benefits and extra freebies. They have not even been lived once and are available at prices lower than the newer ones. This is the reason why resale properties in Noida are more sought after units than fresh sales.
Especially the residential properties in Noida extension which now have entered into mid luxury segment will now be considered by the buyers after the price deduction. This slow down in prices will bring a positive hope amongst the buyers affecting their future buying. The Popular areas of Noida like Sector 76, 77, 117, 119, 120 where high rise building is coming up, will be seen offering a corrected version of prices other than Noida extension ones. The new residential properties in Noida which are currently under soft launch are receiving a huge number of queries from buyers and investors. These queries are mainly from the end users who are looking for something affordable at a location which is affordable as well as have developed infrastructure around. No place other than Noida and Noida extension can offer such amenities and surroundings. Although Ghaziabad properties are good on infrastructure, but high congestion factors, great traffic jams and high cost deals are other unavoidable perspectives of it.
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Price Correction in pipeline for residential properties in N