Influence of Real Estate Sector Market in Delhi/NCR

Smita Bhatia; Dr. Urvesh Chaudhery

Influence of Real Estate Sector Market in Delhi/NCR

January 2021

Vol-4, Issue-2

Paper ID: 13443

ISSN: 2395-4396

Downloads: 0

Abstract & Details

Research Area

Marketing

Keywords

Housing Market Growth Sprawl Real Estate Investment Appraisal Brokerages Net Leasing Property Management Real Estate Marketing Relocation Services Corporate Real Estate.

Abstract

The High Court ordered the Uttar Pradesh government to return to farmers land acquired in the three villages of GautamBuddh Nagar district and pay higher compensation, which could be up to 64.70 per cent of the compensation paid earlier, to affected farmers of other villages. Existing buyers would be kept immune from cost escalation. But, there will be some price rise for future projects on account of rise in costs of land and construction materials. The delay of about three months in construction works due to the ongoing legal hurdles will also leave an impact on the pricing of the future projects. The prices for future projects could rise by 10-15 per cent. The higher compensation ordered by the court would be borne by the Greater Noida Industrial Development Authority (GNIDA). It will be unfair if the extra compensation to farmers is passed on to builders. The real issue is not the price paid for the land acquired. Even if farmers get Rs1 crore per sqmetre they will be resentful if they find five years after they sold that the price of the same land has escalated five times. Yet, escalation is unavoidable as land prices in India tend to be depressed. For agricultural land to be used for non-agricultural purposes such as manufacturing or real estate development, a 'non-agricultural use clearance' from the local authority or state government is needed. It is only after such conversion that the land's price begins to rise.

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Author Information

#	Name	Institute / Affiliation
1	Smita Bhatia	Research Scholar of Sri Satya Sai University
2	Dr. Urvesh Chaudhery	Research Supervisor of Sri Satya Sai University

How to Cite

Use the following formats to cite this article in your research.

APA Style

Bhatia, Smita & Chaudhery, Dr. Urvesh (2021). Influence of Real Estate Sector Market in Delhi/NCR. International Journal of Advance Research and Innovative Ideas In Education, 4(2), 4906-4911.

MLA Style

Bhatia, Smita, and Dr. Urvesh Chaudhery. "Influence of Real Estate Sector Market in Delhi/NCR." International Journal of Advance Research and Innovative Ideas In Education, vol. 4, no. 2, 2021, pp. 4906-4911.

IEEE Style

Smita Bhatia and Dr. Urvesh Chaudhery, "Influence of Real Estate Sector Market in Delhi/NCR," International Journal of Advance Research and Innovative Ideas In Education, vol. 4, no. 2, pp. 4906-4911, 2021.

Vancouver Style

Bhatia Smita, Chaudhery Dr. Urvesh. Influence of Real Estate Sector Market in Delhi/NCR. International Journal of Advance Research and Innovative Ideas In Education. 2021;4(2):4906-4911.

Harvard Style

Bhatia, Smita & Chaudhery, Dr. Urvesh (2021) 'Influence of Real Estate Sector Market in Delhi/NCR', International Journal of Advance Research and Innovative Ideas In Education, 4(2), pp. 4906-4911.

Chicago Style

Bhatia, Smita and Dr. Urvesh Chaudhery. "Influence of Real Estate Sector Market in Delhi/NCR." International Journal of Advance Research and Innovative Ideas In Education 4, no. 2 (2021): 4906-4911.

Turabian Style

Bhatia, Smita and Dr. Urvesh Chaudhery. "Influence of Real Estate Sector Market in Delhi/NCR." International Journal of Advance Research and Innovative Ideas In Education 4, no. 2 (2021): 4906-4911.