With the festive season on the horizon, the Indian real estate market is experiencing a significant uptick in both residential demand and supply, with Noida and Ahmedabad leading the charge.
Real EstateInventoryNoidaAhmedabadFestive SeasonReal EstateOct 23, 2024
The surge in real estate inventory in Noida and Ahmedabad is driven by a combination of factors, including favorable government policies, increased investment in infrastructure, a strong economic outlook, and the festive season, which traditionally sees a rise in property transactions.
Developers are attracting buyers during the festive season by offering various incentives such as free home appliances, reduced interest rates, and flexible payment options. These schemes are designed to leverage the positive sentiment associated with the festive period.
Despite the surge in inventory, the real estate market is facing challenges such as rising input costs, which are putting pressure on developers' profit margins, and the recent increase in interest rates by the Reserve Bank of India (RBI), which may impact the affordability of home loans.
The festive season is significant in the real estate market as it is a time when property transactions traditionally pick up. Many homebuyers prefer to make significant financial decisions during this period, driven by the belief in good luck and prosperity.
Both new projects and existing properties are seeing a surge in demand. The resale market, in particular, is experiencing a rise in demand as buyers find more options and competitive prices. Developers are also focusing on creating affordable housing options to cater to the growing middle-class segment.
The luxury housing segment in India, particularly in Delhi NCR, has seen a significant increase in sales. Cities like Mumbai and Hyderabad are also contributing to this trend.
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