Noida Faridabad on Realty Radar
If the recently conducted survey of the real estate sector by PropEquity in the NCR is to be believed then Greater Noida and Faridabad have outpaced Gurgaon in growth when it comes to absorption or sale of residential units and project launches. Survey indicated that in the first quarter of the year absorption in Greater Noida shot up to 12,342 units, recording a growth of around 519% as compared to the corresponding period last year. The launches also rose 180.8% in the first quarter in Greater Noida to 7,785 units. In contrast, Gurgaon, an investor-driven market, saw a 12.8% decline in absorption, touching 3,675 units in the first quarter and a 38.9% dip in launches at 5,416 units.

In Faridabad, another NCR area on the outskirts of Delhi, the absorption increased by 91.2% and launches by over 302% during the first quarter this year. In totality, the absorption or sale of units in the NCR region in the first quarter of 2013 increased by 45% compared to the same period last year but the launches dropped 24% in the same period but this may be due to the fact that developers are focusing on clearing their inventory. In fact, the reason behind NCR region depicting a healthy absorption in the quarter is mainly due to higher demand for housing in the affordable housing units available in Greater Noida and Faridabad, the report claimed.