gmukesh

NCR as a whole is seeing tremendous growth in overall development in terms of industrialization, urbanization and modernaziation.

There are a numbers of planned SEZ, Industrial zones, HIghways, transportation hubs etc. These are real catalysts to the real estate development.

Could anyone point me to the authentic source of information about NCR Master plan 2021 and its analysis in terms of impact on real estate etc. It would be real good if someone sets up portal of regional a Real estate analysis based on Govt and private land development plans.

arin_12

NEW DELHI: The broker-builder nexus that propelled property prices to unreasonable levels to beguile home buyers in the National Capital Region(NCR) during the realty boom of 2006 and 2007 seems to be back in action.

Brokers are increasingly underwriting properties in new projects being launched by developers—blocking a large number of apartments during so-called soft-launches, hoping to offload them at a premium to end-buyers after the formal launch.

This will help builders claim huge sales immediately and create an artificial scarcity in the market. But if brokers fail to offload the ="http://economictimes.indiatimes.com/Markets/Real-Estate/NCR-brokers-do-a-realty-check-again/articleshow/4926417.cms#"][COLOR=blue ! important][COLOR=blue ! important]stock[/COLOR][/COLOR][/URL] to end-users or long-term ="http://economictimes.indiatimes.com/Markets/Real-Estate/NCR-brokers-do-a-realty-check-again/articleshow/4926417.cms#"][COLOR=blue ! important][COLOR=blue ! important]investors[/COLOR][/COLOR][/URL], property prices may take a beating and the nascent recovery in the residential market may be hit.

“End-users are back in the market and we think we will be able to sell the properties we underwrite,” a property dealer in Noida said, claiming he has underwritten several apartments in new projects launched in the area. “Given the interest among home buyers, prices will soon start rising and we can easily extract a premium,” he said, requesting anonymity fearing an exposure could spoil his relationship with builders.

The Indian economy, which expanded by a creditable 6.7% in the financial year ended March 2009 despite a global economic downturn, seems to be encouraging speculators in the property market.


Property prices had fallen around 25% in the past one year in Gurgaon, Noida and Faridabad. Some analysts had anticipated a further correction in prices this year with a large number of property firms announcing launches after a gap of almost two years. The combination of builders and brokers have now managed to keep prices steady despite a huge increase in supply.

New properties in Gurgaon are being offered at around Rs 3,600 per sq ft while in Noida and Faridabad, prices are hovering around Rs 2,925/sq ft and Rs 2,250/sq ft, respectively.

Brokers usually charge a commission from developers, generally 3-4% of the value of the property. But during the boom, several brokers started underwriting properties slated for launch with the backing of a bunch of investors.

The problem started arising when the property market went into a deep downturn and these broker-underwriters were left with huge unsold stock.

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