Spurring Demand for Shops in Ghaziabad

Ghaziabad has been developing at a very fast pace with many government and private projects coming up in different pockets. The Metro rail connections, Domestic Airport, 6-lane elevated road and revamping of Hindon River and its surrounding have made Ghaziabad an attractive destination for investors in Real Estate Business. There are many housing projects have come up giving rise to the requirement of Commercial spaces and shops. KW Group has been building a state of art Commercial project KW Delhi 6 on National Highway in Raj Nagar Extension, a prime location in Ghaziabad. This project has created a sensation due to its architectural extravaganza in line with the international quality standards. Shops for sale in Raj Nagar Extension is available at KW Delhi 6. The starting price for shop is Rs.33.00 lakhs with lot of benefits and facilities. The Mall will have food court, entertainment zone, snow house etc. Large number of PAN India retail brands have already booked shops in KW Delhi 6 Chandney project which is being build keeping the theme of age old Chandney Chawk, Delhi  Market in the modern form. Some of the prominent retail shops taken shops in this project are Reliance Smart, Louis Philippe, LIBAS, Van Heusen, Himalaya, Moti Mahal, Kiaasa, PETER ENGLAND, Allen Solly, Elini, Nirula’s, WOW momo, Chai Thela, Bread Crumbs, Being Human, BR Baskin Robbins, Raymond’s, Park Avenue, Bikanervala and many more.

KW Delhi 6 has come up with a unique strategy for sale of their shops. Due to lockdown, many prospective customers are unable to visit the site. The Marketing team along with the media team has come up with on-line shop booking facility. They have come up with the software which can virtually walk through the project site with every minute detail to make their choice. The online booking also come with an additional benefit of getting a discount of 10 % on the price of the shop that too with the complete guarantee of getting 100% booking money refund if the buyer does not want to buy the shop for any reason. This strategy can be adopted by only those real estate companies who are fully confident of their quality and commitments.

There are large numbers of real Estate business which have made their presence in Ghaziabad. The Raj Nagar Extension is a new development area where good numbers of reputed builders are coming up with commercial projects where commercial shops for sale are available. However, the sales of shops have slowed down due to the lock down which may be lifted on 15^th of April, 2020 but there are uncertainties. The long term solution to this problem can be tackled to some extent through online promotion of selling activity. This may become a trend for the future and the market will broaden up with the up gradation of software for creating more realistic virtual market in real estate business.

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Demand for Housing Post Lockdown Period

Demand for housing is expected to drop post lockdown down period as an after effect of downslide in the economy die to the spread of Corona Virus Spread. The financial year 2020-21 is expected to be quite crucial for real estate developers. The year 2019 -20 had shown some improvement over the previous two years 2016-17 and 2018-19. Many of the real estate developers have large stock of unsold inventories. Best real estate companies in Ghaziabad are also facing near 100% halt in the sales as the undergoing projects have been halted as per the directions from the government. No buyers or the employees of these companies are able to do any kind of site visit physically. The new project launches in 2020-21 are expected to be much less, however the concentration would be more on selling the unsold inventory to streamline the cash flow.

Best real estate companies are gearing up to do most of their activities on-line and offering huge incentives to the prospective buyers to avail online option to book their new project. During this festive season, when the sale of properties surge, did not see the effect due to COVID-19. But expected with the new online selling effort learned buyers would be attracted and this will gain its momentum even after the lockdown period. Online selling process will be adopted by Real Estate builders and brokers which may become the future trend in selling Capital assets.

Due to stock clearance for ready to move flats, under construction flats are expected to fall in Delhi NCR region specially, Greater Noida, Ghaziabad and some newly developing areas around Delhi. This will amount to drop in price of ready to move flats and simultaneously flats in under construction projects. This price drop is expected in the initial quarters of 2020-21 as the real estate are facing huge cash crunch due to high unsold inventory. Many of the Real Estate builders have done over trading by taking more projects than their sustainable business volume thinking that they will be able to manage with the advance booking money but this did not happen. Most of the buyers have become cautious for not getting their money blocked in an upcoming project and prefer buying a property which is ready to move.

Best real Estate Companies in Ghaziabad are at less risk as they do not have large inventory of unsold flats in their housing project. KW Group Pvt. Ltd is one such company which built 11 housing towers in their KW Srishti  project in Raj Nagar extension. In this project there is hardly any unsold flat and similarly their upcoming commercial project KW Delhi 6 in Raj Nagar Extension, Ghaziabad has already been booked by large number of PAN India retail chains. The demand for shops is very high due to the reputation of KW Group.