Expansion of NCR: Expansion of Real Estate Market

The National Capital Region, popularly referred to as NCR, has been expanded with the addition of five new districts- Bhiwani, Mahendragarh, Karnal, Jind (Haryana) and Bharatpur (Rajasthan). The expansion has increased the total area covered in the NCR region by 34%. This is a substantial increment and thus, the Real Estate Market is at stir. New residential projects in Gurgaon, Noida and even Delhi were under a lot of pressure. Expansion of NCR will relieve pressure from new residential projects in Noida, Gurgaon, Ghaziabad and other areas in Delhi & NCR. Significant developments that will follow the expansion of NCR are: * Real Estate Prices: Cost of land in the former NCR region is too high. The expansion in the NCR region and increase in land area will lead to relatively lower property rates. * Infrastructural development: A Regional Rapid Transit System and industrial model townships have been proposed for the NCR region. Infrastructural development of the areas will upgrade to a new level. * Land availability: The availability of land was scarce in the NCR region. An addition of 45,887 sqkms will definitely relieve the pressure. * Low-cost investments: The expansion in NCR is likely to help entrepreneurs with low-cost investments. It will help them to cut cost on investment in land. The exorbitant land cost in Noida, Ghaziabad and Gurgaon have hurdled many projects in the recent past. * Dispersal of economic activities: Expansion of NCR will facilitate the dispersal of economic activities and reduce pressure on existing Delhi &NCR in terms of educational and economic infrastructure. * Improvement in life-style in NCR: Implementation of the proposed transport projects will not only help in reduction of travel time within NCR, but will also reduce the number of vehicles on roads and the thus, the level of pollution. Infrastructural development will add to a quality lifestyle in NCR. * Fund availability, cheap loans from NCRPB: The opportunity of getting low interest loans through the NCRPB will escalate the number of infrastructure augmentation projects. Expansion of NCR will definitely relieve pressure from new residential projects in Noida and other parts of the NCR region. It will provide the Real Estate Market with a new Realty Street to buy and sell property at lower rates. This will cut the expenses on land and facilitate other expenses on infrastructural development and advanced amenities. Visit Our Website:- http://www.realestateindia.com

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