A lot of you might have the question “When will property prices rise again in Delhi?”
The Hirav Shah’s answer is very soon
A laughable stuff has come from one big realtor from NCR.
He says Hiravbhai I want to take basket over my head and shout “Sale Sale Property in Delhi NCR for Sale”
But understand “The rate of property in Delhi is always fluctuating because of the floating market conditions. And with covid-19 the patch appears to be uncertain”
Realtors, Investors are not asking current property price trend in Delhi because of sheer uncertainty.
The real estate market is perhaps one of the fastest growing in the world owing to constant demand for better residential, commercial, as well as hospitality spaces. As the world continues to grow and change with times, so do their requirements in terms of housing, businesses, and more. They seek the best for themselves, and the ability to show it through the place where they work, reside, or just enjoy.
Being able to own a home in the National Capital, Delhi, is not just an aspiration of many, but also a sign of overall personal and social growth. It is not just residential property though, that garners interest these days. Whether it is commercial or hospitality-based, the realm of real estate is full of endless possibilities in Delhi -explains Hirav Shah, India’s Top Astro Strategist cum Business Astrologer, who has been working closely with many of the leading Developers, Infrastructure, and Real Estate giants of India, USA, etc as a Real Estate Strategist, Real Estate Investment Advisor, Property Investment Advisor.
There are huge ‘commercial and housing’ unsold properties and Builders /Developers of Delhi are trying hard to sell it out.
Lets understand the current situation of Commercial and Housing real estate in Delhi.
Current Status of Commercial Real Estate in Delhi
Astro -Strategist Hirav Shah further adds-In Delhi -NCR, there is an increasing demand for office space which large corporates are acquiring as the current economic scenario is an opportunity to conclude the transaction at a discounted price for bulk office spaces. Though mid-size companies and the MSME sector are downsizing their office space requirement and workforce, there is an ongoing demand for small and midsize office space as well.
The other segments of commercial real estate like logistic parks, warehousing, retail shops and showrooms, and mall properties have their markets to be analysed. India, being one of the preferred destinations by multinational companies, has tremendous growth potential in warehousing and logistics parks in the extended industrial belt and land banks of metro cities. There is a rising demand in the industrial warehousing and logistic parks segment for the next 36 months. Some of the developers and owners of warehousing segments are offering lucrative pre-leased deals for investors to earn a return on investment of around 8-10% per annum.
Current Status Of Housing Real Estate in Delhi NCR
India’s Biggest Influencer in the field of Real Estate, Hirav Shah says-Delhi-NCR reported a noticeable improvement in property enquiries and sales in the current quarter, as against April-June 2020 when the nationwide lockdown marred activities in the real estate market.
While sales have reportedly seen an improvement of over 40% QoQ, property prices and rental rates have remained unchanged. The city stands with an unsold housing stock of about two lakh units.
Post a lull in housing sales and new launches in Apr-Jun 2020, Delhi NCR’s realty landscape showed some fast cropping green shoots of recovery after Jul-Sep 2020, i.e. soon after the gradual lifting of the nationwide lockdown. Brokers and developers reported a marked improvement in the quality of leads during the quarter as serious homebuyers ventured into the market to conduct site visits. Resultantly, monthly sales volume recovered by almost 50% in July. Overall, the quarter closed with transactions numbering at around 3,100 units, which is a nearly 40% increase from 2,000 units in the previous quarter, but a significant dip from 9,800 units last year. The city constituted about 22% of the total property sales across the top eight metro cities in India, second to Mumbai.
The quoted property prices remained unchanged; however, sellers remained flexible to negotiate up to 10-20% in the resale segment. A few distressed sales were also reported in the quarter. Unlike the previous quarter, which went by without any new launches, this month saw a few new projects coming up in Delhi -NCR . The silver lining is the increased interest of the NRI community, which coupled with the festive season may fasten the process of recovery in the final quarter of the pandemic-hit year.
3 periods are very important for Real Estate in Delhi-NCR FOR BUYERS as well as REAL ESTATE DEVELOPERS.
These periods will turn around the trust factor and buyers interest in Delhi Real Estate.
- January 20 to February 15, 2021
- May 10 to June 25, 2021
- August 18 to September 15
Hirav Shah’s Predictions for Delhi Real Estate
- Commercial Real Estate in Delhi will start to pick up from February 2021.
- Housing Real Estate in Delhi will start to pick up around June 2021.
As the aforementioned growth projections suggest, the future of Delhi real estate not only looks bright, but also stands to benefit from the visionary upward-trends, as predicted by the country’s top influencer and adviser in the world of real estate, Hirav Shah, and that to during unpredictable times.
It’s sheer Astrological Acumen that you get to know your destination even before you start.
Hence for Developers and Builders, ASTROLOGY is the only KEY, where you get to know things in advance, before under-taking any massive action, concludes Hirav Shah.