PRLog - Jul. 13, 2011 - LAGPAT NAGAR, India -- Prime Minister Manmohan Singh may have indicated in his meeting with the editors recently that inflation rate would stabilize around 5 percent by March next year. But the consistent strengthening of the index over the last couple of years have started hitting industries badly. Coupled with the steep hike in fuel prices, input costs of a number of industries have gone up drastically. One of the industries that been absorbing a lot of hike in inflation and prices is the real estate sector. Industry leaders believe that such rapid hikes would leave no alternative but to increase the price of property.
"The increase in fuel prices will have direct impact on the cost of raw materials used in construction. Though the sector had been adsorbing various price hikes in past but the rapid price increases would definitely affect the prices in the industry," says Mr. Ashwani Prakash, Executive Director, Paramount Group, who have recently launched Golf Foreste project in Greater Noida.
"The real estate sector had been trying hard to absorb the price hikes in past but in recent past the price hikes had been so rapid that it would some way or the other effect the prices in this sector," he adds.
Indian economy has been eagerly awaiting another round of reforms from the UPA government. The real estate sector too has been demanding the status of industry for long, something that will help them manage the sector better. "The way in which real estate sector, in last 10 years, has provided to the country the infrastructure, revenue and the employment; it should surely be defined as an organized sector in the industry. Real estate has been looking towards to the Government and demanding for an industry status for quite a long time now, reality is primed for that," says Mr. Prakash. "The properties in NCR are available starting from the Luxury segment to affordable range. Developers are offering these properties with number of USP's making a good combination of quality, comfort and affordable price. Investing in property in NCR region at present is a viable and profitable option, “he adds.
Economic indicators have indeed hardened for the reality sector with the recent hike in repo rate by RBI. “Though a house is the basic necessity of any person/family and everyone has a dream to have his own house but the increased repo rates by RBI have definitely slowed down the loan process in the industry, it will take some time till the customers or the prospective buyers make themselves mentally prepared to avail the loan facility on the increased interest rate, " says Mr. Prakash of Paramount Golf Foreste.
Property buyers, Invest smartly
But all is not lost for the property buyers with the hardening of rates and imminent increase in prices. If they do proper research and invest wisely, there is availability of good properties at better prices. In the NCR, Greater Noida is an attractive location. "Importance of any area around Delhi depends on its connectivity to the capital. In Greater Noida the infrastructure has been developed in a manner which provides a congestion free movement of traffic towards Delhi. Proposed metro connectivity with this area will further improve its connectivity to Delhi. The prices of the property in this area are comparatively lower by 10-15% as compared to the other surrounding areas of NCR region. Therefore any property in this area would be a good buy," says Mr. Ashwani Prakash, Executive Director Paramount Golf Foreste.
Paramount group have launched Golf Foreste in Greater Noida which is luxury housing at affordable prices. As the name suggests, Golfforeste is an amalgamation of property with golf range and forest ambience. Such properties that are offering unique concepts, comfort and good pricing are able to fight the inflation heat.
Golf Foreste has evoked great response from buyers due to this feel the promoters. "The properties in NCR are available starting from the Luxury segment to affordable range. Developers are offering these properties with number of USPs making a good combination of quality, comfort and affordable price. Investing in property in NCR region at present is a viable and profitable option," says Mr. Prakash.
With an investment of around 750 crores, Golf Foreste would have about 2000 villas of different sizes along with 572 luxury studio apartments. Each villa in the project has been provided a parking space within the premises. For studio apartments sufficient open as well as covered parking space has been provided.
"At present more than 70 % of the project has been sold. If a buyer books his property now he would have an opportunity to be a part of this state of art project having a linear forest around and a golf course within," says Mr. Ashwani Prakash.
So while prices are rising, and inflation getting stronger by the week, property investors can still get a good deal if they look around for premium property with good value and add ons.
About Paramount group
Paramount group is a well know name in real estate. Paramount Group is able to deliver on the promises as the group has a team of highly experienced engineers architects, and qualified management professionals. The group has 15 years of experience and believes in quality service and timely possession to customers.
With the commitment to quality, strict adherence to time schedule and the principle of giving best value for customers money, Paramount group have earned the goodwill and respect of growing number of satisfied clients.
The group specializes in designing unique project designs that are well suited to buyersâ€™ lifestyle combined with innovative financing possibilities.
Paramount Group today is a leading name in quality housing and township development. It has emerged as one of the leading builders in the NCR region.
The Paramount Group is committed to build up its business, keeping in view, the overall betterment of the society. Furthermore, its existing projects clearly speak of class, style and comfort. Thus, the journey of Paramount Group is largely about making a difference, without compromising on quality.