Coimbatore has today all the pre-requisite fundamentals of a lifestyle city that is high on the wish list of the corporate sector and the young professionals. The best part is that this development has happened in the last few years when the market conditions otherwise have been bearish; something that suggests the wave of change is here to stay.
Welcome to Noida reality! Contrary to the dynamics of property market where lesser transactions lead to skyrocketing of rental values, in Noida this conventional wisdom of market does not hold true. Noida, as a matter of fact, is a classic case in contrast where the supply is huge, transactions are less and the rental values are the lowest. Reason: imbalance of demand & supply in the same catchment area.
A closer look at the sales methodology of the developers suggests while they exaggerate some USPs of the project, they very smartly conceal the information to make their offer look very lucrative to homebuyers.
Largely viewed in the collective consciousness as the most affordable market of Delhi-NCR, probably the authorities did no justice to this market by positioning it as yet another micro market to supplement Noida and Greater Noida. More than the controversies and the litigations, the positioning of the market has been a challenge.
Are the CBDs really losing out as the benchmark of economic activity in the major cities of India? Well, if only Gurgaon business destinations as against Connaught Place or Nehru Place in Delhi-NCR are any indication, or if only BKC and Navi Mumbai as against Nariman Point in Mumbai is any indication, then the CBDs have lost a significant ground by all means of reputation and economic scale.
It is the roll out of the policies by the respective urban bodies that have been behind the BKC emerging as a case study of urbanisation with booming economy while Noida ending up as a ghost city sitting over piles of unsold housing stock. Both the markets nevertheless had the tremendous potential in its early stage of inception.
The proposed Delhi Mumbai Industrial Corridor (DMIC) also promises to change the Faridabad landscape opening floodgates of opportunity. The DMIC stretch that touches Faridabad-Palwal is poised to open floodgates of economic opportunities with world class infrastructure at the doorsteps of Faridabad.
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