NEW DELHI: According to the fresh real estate market reports property demand is falling by 20percent in the Noida Extension area NCR (National Capital Region), and this is happening due to the court order according to which was acquired for residential development has to be returned to the original owners. According to the several developers in the aftermath of court order Noida Extension real estate market is severely affected and demand for housing reducing day to day. Allahbad High Court has passed the order following to which the entire land shall be return to the land owners.
Certainly court’s order is affecting to the Noida property market, however home buyers are nervous and also waiting to clarity in the entire matter. As per the several sector watchers yet there is no decline in property rates so far on the other hand housing finance rates are also the reason for slowing down the property market, and due to this housing demand has fallen by 20%.
Posted: 04 Aug 2011 04:43 AM PDT
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