The real estate market of the country has been defined some territories in the country. One of those territories is the city of Noida. The city has been the result of planning to create an area to offload the population of Delhi. The planning was on since the seventies but did not yield fruition till the nineties. However as soon as the city was developed, it got into limelight. It became the centre of residential and commercial establishment. The planning allowed the establishment of industries as well. Soon enough Noida became home to the technology companies of the country. Over the years, the city has evolved and grown. It is home to the best of houses-whether they are independent homes or apartments. The planning of the city has also left ample scope of future development. There have been a large number of people who have invested in the city in the past and have reaped humungous profits. Currently, the price of flats for sale in Noida is amongst the highest in the country. But the change in the property sector as a whole can now be seen and there is a rising demand for houses in the city.
What has Led to the Growth of Housing Demand in Noida?
Over time, the city has been at the helm of property demand. However the recession of the property sector in the past few decades has led the fall in sales of residential properties in Noida. Over time, the city has been considered to be one of the most potent sites for property development. However the economic slowdown proved that the property business was not as invincible as previously thought. Through the mechanism of macro economics, one sector that was hit hard was the property business. When the economic slowdown started, there was recession to be witnessed that went out of control. RBI reduced the lending rates to prevent borrowing and thereby allowing the excess cash in the economy to dissipate. However that somehow did not happen and the lending rates remained high. The property business is one of those few businesses where the sales are highly dependent on home loans. The interest rates in the home loans were high due to the high lending rates and therefore the buyers were not able to invest in houses. However at the same time, the city started witnessing a change in the dynamics of property business and the new projects in Noida.
The Change in Business Dynamics
The builders had realized that the market was shifting from a sellers’ market to buyers’ market and they had to focus on the needs of the end users. As a result, they started researching and it was realized that there was a high demand for affordable properties. As soon as the conditions started to improve in the property markets, there were a number of changes witnessed. For starters, the city started witnessing the development of affordable housing in a lot of areas. Now a good flat for sale in Noida has become accessible to the masses. All this has been possible because the builder focus now has shifted to the consumers.
In Conclusion
Property portal housing.com has become one of the most important resources for searching properties online. Anyone searching for properties in Noida would now be able to search for the best available options in the city.