The revised circle rates will reduce black money in NCR’s realty deals. The region’s circle rates have always been significantly lower than the prevalent market rates – a scenario which allowed both end users and investors to absorb the cash over and above the circle rates in any realty transaction
Overall, it can be said that the realty market at Noida Extension has actually emerged unscathed out of the whole controversy. This is because the area continues to have unique selling point of location for affordable housing when compared with Noida and Greater Noida.
Both the economy and the residential property sector are currently in a state of uncertainty. This has resulted in a rather prolonged period of vacillation and hesitancy among home buyers in India.
After a one-year period starting 3Q 2009, which saw a strong recovery with a record 40%+ increase in prices, the Mumbai residential real estate market has been seeing a slowdown over the last two quarters across various micro markets.