New Houses of Affordable Housing Glowing in NCR

 Affordable Housing Glowing in NCR

Due to the expansion in the National Capital Region (NCR), the increasing urban facilities and the huge opportunities of jobs, the supply and prospects of Affordable Housing in the NCR have also increased rapidly. Sohna (Gurgaon), Rajnagar Extension (Ghaziabad), Yamuna Expressway, Greater Noida West and Bhiwadi are among the fastest growing areas in the country on the basis of supply of new houses worth Rs 40 lakh. There are 1.3 lakh new units attached here in this price segment.

According to the report of Anarch Property Consultants, in the last two years, the highest prices in any of the cities in the price range of 40 lakhs are made in NCR. Its share in the new launch was 21% in 2012, 71% in the third quarter of 2017. However, the entire NCR region is showing growth in this segment, but five areas are emerging as fast as the hideouts of particularly affordable housing.

According to the report, 48 per cent of the NCR supply is in Sohna, Rajnagar Extension, Yamuna Expressway, Greater Noida West and Bhiwadi, where a total of 1.3 million new Affordable Houses are built. 45% of the total supply in all segments also happened here. Where the average price of houses in the whole NCR is 4,200 to 4,600 rupees per square foot, in these areas it has registered 2800 to 3900 per square foot. There is a possibility of rapid growth from mid to long term. It has been said in the report that 33% of Gurgaon's total supply was made in Sohna. There is also scope for further expansion on the basis of available space.

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In Bhiwadi, 80% of the houses are in the Affordable Range. In the past few years, the industrial expansion has been rapidly and demand for cheap houses has increased in job seekers. Due to the close proximity of the Rajasanagar extension in Noida and Delhi, demand is still maintained and developers are using every option of Affordable Housing.

New launches and stability on the price trend are dominating in Greater Noida West, but the attraction has increased due to the connectivity of Metro connectivity and the rest of the NCR. Yamuna Expressway area has also increased trend towards Affordable Housing. With the connectivity of the eastern part of UP and the arrival of Jetver Airport, this area has once again appeared in the eyes of the developers.