Increasing Demand for Residential Apartments in Trichy

Trichy: The rapid increase in the price of residential land and individual homes in the city are making the people prefer apartments. Currently, the residential developers in the city are focused on construction apartment projects in Trichy that meets the needs and budget of every home buyer.

Through the builders have started to develop apartment projects in the city before 20 years, the demand for these types of residences have increased gradually. In the recent times, the real estate and construction fields are going at a dull pace. However, the flat promoters in the city are ready to launch new residential apartment projects in Trichy. As of now there are totally 120 apartment projects are under construction. .

According to the sources, the skyrocketing prices of the unapproved vacant plots is making difficult for the people to buy an individual house. Thus, the people have shifted their preference on to apartments in Trichy. Besides, most of the land promoters are not approaching the local planning authority (LPA) for approval, as they are not ready satisfy norms like broad roads.

To increase the demand for apartments further, the Confederation of Real Estate Developers (CREDAI) has recently conducted a three-day Fairpro-2015 to grasp the attention of the home buyers.   

The flat promoters in Trichy are focusing on developing apartments within the city limits. The price of the apartments that located in the main roads of the city are high when compared to the inner roads. According to sources, the price of an individual house located within a city limit is expensive. Thus, the home buyers are buying apartments which are available at affordable rates. Further, the resale value of the apartments in the city will increase in the future, as the city is witnessing an enormous range of developments in terms of infrastructure and industries.

The price range of 1 BHK, 2 BHK and 3 BHK apartments is ranging from Rs 25 lakh to Rs 1 crore. The price is fixed based on the area. Also, the price varies according to the number of amenities available in the residential apartment.

It is expected that the price of the residential apartments will increase in the next three months, as the cost of the construction materials has raised up.

When we consider these factors, it's the best option to prefer a residential apartments in Trichy rather than expensive individual houses.

Should you invest in Noida or Greater Noida?

The questions plagues many investors and individuals today, whether they should invest in Noida or Greater Noida is a better realty choice in this matter. We put together some valid arguments so that you can access and analyse the best suited option for you as an investor.

•    "Greater Noida was designed as an integrated township, but industrial land, particularly in Greater Noida West, has been diverted to residential projects. Attracting industry is hard, while cutting plots for builders is easy and lucrative. In the five years, GNIDA has allotted 400 industrial sites of which small scale units 50 have started work. But a majority are micro enterprises employing between 20 and 50 workers each.” Says a GNIDA official to the Business Standard. Noida also started off in a similar fashion, however it is much more developed and evolved market as of now.

•    Greater Noida suddenly saw a rise of real estate activity between the years 2009 and 2011. There were a number of apartments for sale in Greater Noida that were presented to the market, but the new land acquisition act and the eventual increase in property prices have deterred the home buyers from investing here. According to a report by JLL India, there are over 200,000 apartments for sale in 
Greater Noida, out of which only 40 % of inventory is sold. There has been delay in projects and there has been an issue with local builders delivering projects very late as compared to the actual date of handover. This has brought the real estate market here to a halt. But Noida however is a much more evolved market. Prices have seen fluctuation, but it hasn’t been unambiguous. Certain localities command a higher price than others and there is a clear cut distinction. The stability in the Noida market is what makes it a better investment choice

•    Properties in Noida are a good investment choice for low risk investors, Greater Noida poses much higher risk and a gestation period as compared to Greater Noida.

•    If you are looking to invest in plots then Greater Noida is a better investment option for you. Noida has limited land availability and that has resulted in rapid increase in prices. However if you are looking to invest in apartments Noida is definitely a better bet. Project are delivered on time and there is stability in price of properties in Noida.
•    Looking to invest in commercial real estate? Pick Noida and not Greater Noida. As of today, there is almost 70 percent of unoccupied office space area is Greater Noida and individual investors have suffered losses because of this. They paid a premium price to acquire this land, however it hasn’t reaped any substantial benefits.
•    These are a few points you can consider if you are looking to invest in any of these areas. However the market and its evolution is natural and Greater Noida will evolve sooner or later. But the gestation period is long. And the ones with deep pockets can actually afford this long gestation period. However you investment in Noida is safe for now and rental market is also stable.