Surendra Hiranandani promoted House of Hiranandani is eyeing Delhi-NCR as its next destination to start residential project, besides looking at expanding its footprints to satellite cities such as Hyderabad and Pune.
According to research report by Knight Frank high property prices, relatively higher mortgage rates and overall weak business sentiment resulted in residential launches declining by 30 per cent in 2012 compared to 7 per cent in 2011 in top six markets of Delhi-NCR, Mumbai, Pune, Bangalore, Hyderabad and Chennai.
According to Knight Frank Mumbai, Delhi-NCR, Pune, Chennai and Bangalore have emerged as the top five cities in India for investment in residential segment. The firm in its report said that People in India seek property not only for accommodation purpose but also as an investment option.
Real estate prices in small pockets of Delhi-NCR and Mumbai may fall 20-30 per cent in the next six months. A study of India's top 10 listed developers' balance sheets by Hindustan Times revealed a massive oversupply
The transformation of landscape is one of the significant changes the country has witnessed over the years. This means, cities have started expanding its limits and areas which were once categorized under suburbs have now become prime areas receiving maximum demand.