A voluminous spree of project deliveries from developers across Delhi-NCR will boost the confidence in prospective buyers which will help the property market regain its momentum.

At a time when current market sentiment and consumer confidence is at a low, the residential real estate of NCR will be on a project delivery spree in the coming few months. The delivery of projects will surely help developers retain customer trust and confidence in these times. Developers in this part of the world are in one of the most favourable development markets not only in India but also worldwide. At the same time, consumers today are discerning, thereby raising the bar in quality and timely deliveries.

Despite the favourable parameters, the real estate market in Delhi-NCR has witnessed an upheaval owing to numerous issues like the agitation against land acquisition and the subsequent court cases, increment in the rate of interest, inflation in the cost of raw materials, etc. If more developers see the value of standardized systems and planned corporatisation and the government also lends the required support, the real estate industry will see unprecedented and sustainable growth, much to the advantage of both investors and consumers.

VIKAS GUPTA, JMD, Earth Group is also of the view that timely delivery is one of the key issues that have been discussed widely on the Indian realty front. There have been instances when builders failed to provide possession on stipulated time frame or period. “Whatever the reasons there may be, but from the customer’s point of view we can never justify the delay in possession,” says Gupta.