Cheer for home buyers! 54,000 flats ready for possession in Noida, Gurugram by March; details here

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.

Builders have already given possession over 57,000 units to buyers so far during this fiscal. (Image: Representative/ AFP)

Delivery of about 54,000 flats to home buyers by March 2019 is being expected

During the next fiscal, over 94,000 additional units are likely to be delivered in Noida

Builders have already given possession over 57,000 units

New Delhi: 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. "Projects delays have led to several real estate developers in the national capital region struggle for their 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, real estate 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 the 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 in the market. Of the units that are set to be delivered in the March quarter, almost 12,300 units are concentrated in the micro markets of Dwarka Expressway and Sohna. Nearly 43,000 units are expected to be offered for possession to home buyers next fiscal at Gurugram. PropTiger.com is part of Singapore-based Elara Technologies, which also owns Housing.com and Makaan.com. News Corp and Softbank backed PropTiger is a leading brokerage firm of housing properties in the primary market. It competes with the likes of Anarock, Quikr Realty, 360 Realtors, Investor Clinic and Wealth Clinic in this business apart from small and the unorganised players.

Published at : 02 Mar 2019 09:34 PM (IST)

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