Login Register
Follow Us

Realty bites

54k home buyers to get possession in Noida, Gurugram by month-end

Show comments

54k home buyers to get possession in Noida, Gurugram by month-end

Noida and Gurugram property markets are likely to witness a delivery of about 54,000 flats to home buyers by March 2019 with developers focusing on completing pending projects, according to brokerage firm PropTiger.

“Project delays have led to several real estate developers in the national capital region struggle for survival. However, this has also led to other developers making their best effort to deliver more,” PropTiger said in a statement. According to its data, developers will deliver over 30,000 housing units in the Noida property market  in the last quarter of the current financial year (Q4 FY19). 

Builders have already given possession over 57,000 units to buyers so far during this fiscal. Most of the units that would be ready for possession are concentrated along the Yamuna Expressway and Noida Expressway areas. During the next fiscal, over 94,000 additional units are likely to be delivered in Noida property market. Similarly, developers in Gurugram are likely to deliver nearly 24,000 housing units during the quarter ending March. So far during this fiscal, they have delivered over 56,000 units..  — PTI

Sales growth recorded 

Despite a slowdown in the realty sector post implementation of various policy reforms like RERA and GST, 10 leading real estate developers have recorded a 50.7 per cent growth in sales during April-December 2018, according to a report. During the first nine months (April-December) of fiscal 2019, the sales of ten large listed entities in its sample set, stood at a robust 22.4 million sqft, registering a 50.7 per cent growth over the corresponding period a year ago, ratings agency Icra said in its report. Correspondingly, the sales value of the area booked also increased toRs 14,461 cr in 9 months of FY19, as compared to Rs 10,980 cr over the same period a year ago. — PTI

Show comments
Show comments

Top News

Most Read In 24 Hours