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This is
expected to be ready by 2008 and residential land prices
have appreciated by almost 100%, jumping to about Rs 3
crore per acre this year, from Rs 1.5 crore per acre in
the year 2005. However oversupply may be just round the
corner, causing prices to dip. Big developers like
Eldeco, Parsvanath, and Unitech have ongoing projects
here, while DLF too, has acquired land. Now add to that,
another 8000 apartments that will be ready for use in
two years.
Jayant Verma, Executive Director (North), Knight Frank
(India) opines that prices will rise, but at a measured
rate and that it will not be more than 5-10% keeping in
tune with the inflation. For now though, with the recent
announcement of the Reliance SEZ in Haryana, along the
expressway, land prices are likely to rise further.
However its going to take atleast another year, before
the highway is ready, and the infrastructure improves. |
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