NCR developers fast track delivery as demand for ready to move in rises


Real estate developers in NCR have fast tracked the construction of projects expecting increase in demand for ready to move in property ahead of festive season.

According to a report by PropTiger.com, the share of ready-to-move-in (RTMI) homes in the total housing sales in the primary market, rose to 21 per cent in the pandemic-hit 2020, from 18 per cent in the previous year, as home buyers preferred completed apartments to avoid the risks attached with under-construction properties

NCR based Migsun Group said it has received the Completion Certificate for 672 units in Phase I of Migsun Wynne before the RERA stipulated time.

The project, which is adjacent to the Greater Noida Expressway and has 1764 units, is located in Eta II, Greater Noida. The total investment in the project was Rs 750 crore accrued and non-accrued.

“We’re working hard to finish it within the time frame we’ve set. We’ve been able to establish buyers’ trust by sticking to delivery deadlines. We’ve noticed the difficulties buyers face as a result of project delays, and to solve this, we are taking on delayed projects worth Rs 5,000 crore this calendar year to uplift the market and help buyers regain trust in the sector,” said Yash Miglani, MD, Migsun Group.

Migsun Wynne has 2/3/4 BHK apartments and is listed under the scheme Pradhan Mantri Awas Yojana, which makes these residences all the more affordable.

The Group is expecting CC for Phase II by Diwali this year and for Phase III by next year.

Gulshan, another NCR based real estate developer, is offering possession of 1,888 units in two of its projects – Gulshan Botnia (764 units) and Gulshan Bellina (1124 units). The company received the completion certificate for Botnia and for Bellina.

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“We have always lived up to the expectation of the buyers through the delivery of quality projects. We have worked relentlessly during the covid scenario to deliver on our promises and offer great living spaces, with a mission to pass on a green world and prosperous cities to future generations. Our journey has been rewarding, mainly when we worked in a framework that emphases on lifestyle. Our forward-thinking approach ensures that we combine innovative architecture with cutting-edge amenities to create high-quality homes that will last for generations,” said Yukti Nagpal, Director, Gulshan.

The share of RTMI units in the total sales increased the most in the Delhi-NCR at 27 per cent in 2020, up from 17 per cent in the previous year.



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