(Reporting by Gorav Khosla)
New Delhi: If you are planning to buy your dream house, then this is a good time to do so. As per a report in JLL, a leading professional services firm that specialises in real estate, four lakh, forty thousand flats could not be sold in India in 2017. Delhi/NCR was top of the list.
In the NCR region, some 150,000 units could not be sold. Experts feel that this is a boon for home buyers as it gives them a window to negotiate and buy property at a good rate.
Following are some of the options that are available for buyers:
NCR/Noida:
- In Noida's sector 70,73, 79,117 and 121, a total of 11,844 are unsold. Their rate is approximately Rs 4,900-5,000 per square feet.
- On the Noida expressway, 12,063 houses are empty and the rate is approximately Rs 5,500-6,000 per square feet.
- In Greater Noida too, there are many flats which are unsold. In the Pari chowk area, at present, there are some 13,525 units which are empty. The rate is approximately Rs 3,900-4,000 per square unit.
- On the other hand, in Greater Noida west, some 58,693 are to be delivered as of now and their rate is Rs 3,300-3,500 per square feet.
- Apart from them, the flats on the Yamuna Expressway are going at the rate of Rs 3,100- 3,200 per square feet and there are some 16,725 houses waiting for buyers.
Ghaziabad:
- Coming to Ghaziabad, in Rajnagar Extension, at present the rate is Rs 2,500-2,600 per square feet. There are some 15,324 units which are empty.
- On NH2, some 17,529 units are empty and the rate is approximately Rs 3,300-3,400 per square feet.
Gurugram:
- Moving to Gurugram, many units are unsold here too despite it being called a millennium city. Some 6,325 flats are empty on the Gurugram-Dwarka expressway. They are going at the rate of approximately Rs 6,900-7,000 per unit.
- On the Sohana road and SPR, the rate is Rs 6,800-6,900 per square feet. There are some 9,560 units empty here.
- In New Gurugram, unsold flats are 11,825 and their rate is around Rs 6,200-6,300 per square feet.
Mumbai:
- In Mumbai's western subburb area, some 88,633 houses are empty and their rate is approximately Rs 5,400-5,500 per square feet.
- In the Thane area, the unsold inventory is 28,290 units and the price is Rs 9,600-9,700 per square feet.
- In Mumbai's central suburb, the going rate is around Rs 13,200-13,400 per square feet. Some 40,631 units are empty here.
Ahmedabad:
- However, in Ahmedabad, the property rates did not come down in 2017. Despite unsold houses here too, the builders have not reduced the prices.
- In the Ahmedabad zone 1, as of now, there are some 10,673 units which are unsold. Their rate is approximately Rs 3,700-3,800 per square feet.
- In Ahmedabad's zone 4, the going rate is Rs 2,300-2,400 per square feet. Some 29,219 units are empty here.
Nagpur:
- In Nagpur's Wardha the rate of houses is Rs around 3,200-3,300 per square feet and there are some 6,105 units empty here.
- In Nagpur's Hanuman Nagar, some 1,844 units are empty and the cost is some Rs 3,100-3,200 per square feet.
