As the Indian real estate market is on the road towards revival, speculations are rife about the new developments that would be seen in the coming years. 2014 is almost over and the year did not have any substantial to prove in terms of property industry development. There have been clear indications of improved sales after a stable central government was formed in June this year. However, since the realty sector is hugely defragmented, consolidation of all sales related information takes time. It is true that the Diwali festive season saw a decline in sales volumes which made investors and builders apprehensive about making any new moves. However it would only be a few months into the next year- 2015- that we would know about the actual performance of this year.But what is abundantly clear is that signs are positive about the market revival. Therefore even though the investors are not participating in the market related activities, end users can use this opportunity to secure an investment that would undoubtedly deliver good results.
Trending these days is the demand and supply of affordable residential projects. Affordable projects are those which take into account a critical mass of unit sales which allows them to reduce costs by supplying the product in bulk. However this does not mean that the rooms in such homes would be reduced to closet size.
Numerous companies have ventured into affordable housing in both metros and non metros. When such projects are constructed in the metropolitan cities, construction takes place in the peripheral regions. Alternatively, builders choose a territory which is not the prime choice of home buyers. But how do such territories make up for the lack of demand?
Affordable Housing in Industrial Cities
As the demand for real estate grows unabated, builders are now targeting areas which were considered to be truly industrial. However many such territories are on the path of further development. One such town is Bhiwadi. Lying at Haryana border, this little town is a part of the Delhi NCR but has not received its due recognition; until now.
The town evolved to become a major industrial hub as brand names like Gillette and Eicher setup their industrial units in the city. It was primarily an industrial city till it became a prominent landmark in the Delhi Mumbai corridor of economic development. Since then, suddenly there is a rising demand for new residential projects in Bhiwadi. Builders and buyers alike are looking for new opportunities of investment in the city. There are prospects of development of commercial properties in the area even as Bhiwadi extends its borders well beyond the traditional ones.
With the ever evolving infrastructure, the possibilities of new projects in Bhiwadi have increased many folds. What was a non descript village 3 decades back has suddenly started to show the promise Gurgaon had shown in its initial development phases. However Gurgaon has one benefit that Bhiwadi does not have- proximity to Delhi region. Nevertheless, the industrial township will continue to grow at a fast pace as the business corridor evolves. So will the upcoming projects in Bhiwadi.