Property in Bhiwadi

Home buyers prefer going for under-construction properties primarily for two reasons – first, these are more affordable than ready-to-move-in properties; and second, the satisfaction of entering into a brand-new house is immense. However, homebuyers are often left red-faced when developers delay project delivery owing to a number of causes. In many cases, developers cite the force majeure clause to win legal battles. In their excitement to complete the paperwork as soon as possible, buyers often overlook this crucial clause while entering into an agreement with developers. This clause, in fact, facilitates delayed possession.

As the liquidity crunch in the real estate sector is seen deepening amid a crisis in the banking sector, new project launches in nine major cities fell 47 per cent in Q1 FY20. According to Real Insight, a quarterly report by PropTiger.com that analyses data of nine key property markets across India, home sales during the quarter declined by 11 per cent as compared to the same period last year, even as housing inventory declined 12 per cent.

With a massive growth in the residential, commercial and industrial sectors, Bhiwadi in the National Capital Region is attracting a considerable level of interest from buyers and investors. Spread across 5,300 acres, the city already has more than 2,700 small to large corporate houses. Located near the IT hotspot of Gurgaon, Bhiwadi is also an affordable option for those looking for an apartment ─ you can buy a 1,000-sqft 2BHK unit in the price range of Rs 20-40 lakh, depending on the location, construction quality and amenities. Here are some other reasons why you should consider buying a property in Bhiwadi.

Property prices across 33 cities in India have witnessed a rise of upto 22 per cent in the first quarter of the financial year 2018-2019 when compared to the same quarter of the previous fiscal, shows the National Housing Board’s housing price index, NHB Residex. Prices dropped by upto 13 per cent in 14 cities and remain stable in three, the index shows. The report released on January 2 studies property prices on a quarterly basis across 50 Indian cities, with FY2018 as the base year.

Prime Minister Narendra Modi on November 19 inaugurated the 83-km-long Kundli-Manesar section of this infrastructure project; the remaining 53-km stretch has been operational since April 2016. The expressway will offer signal-free connectivity to Palwal from Sonepat, bypassing Delhi. The expressway highway together with the Eastern Peripheral Expressway, will divert as many as 50,000 heavy vehicles away from Delhi.