The real estate sector of India is witnessing rapid growth. Not only does it provide housing and commercial spaces to people, but it is also accepted as a source of income for many. There are multiple ways in which a buyer chooses to utilise real estate. For instance, they could hold the purchased property to resell it at a higher price or rent out the real estate for additional income. Another means of gain is of converting the available real estate into a homestay or hotel. Although each has its own benefits, a buyer seeks to make the optimal choice to maximise the returns on his investment.

There are many factors which affect the prices and trends in real estate for a dynamic market like NCR (National Capital Region). Preliminary analysis shows us that there are three main categories of factors: demographic, socioeconomic, and infrastructure. The goals of this study are to identify them and establish the linkage between the factors and the prices of property. This purpose of this study is to help property buyers foresee trends in real estate and make optimal investment decisions.

Goal 1

To identify the factors affecting property prices in Delhi NCR

Aim: The first goal is to carry out a literature review to identify the factors affecting property prices in Delhi-NCR. Delhi-NCR, being a sprawling metropolitan area, exhibits a dynamic real estate market influenced by a multitude of variables. These factors can be broadly categorized into socioeconomic, infrastructural, environmental, and demographic aspects. By meticulously identifying and analyzing these factors, the study aims to provide a detailed understanding of the diverse and interconnected elements that drive property prices in the region. This foundational knowledge is crucial for stakeholders such as investors, policymakers, and urban planners to make informed decisions and strategize effectively in the real estate market.

Methodology: It involves a systematic review of at least 50 empirical studies conducted in the past showing:

  • author name (year)
  • aim of the study
  • methodology  adopted
  • findings
Milestones

To contribute and publish select a pending milestone.

Completed

There are no completed milestones.

Pending
Real estate market of NCR
Factors affecting real estate market of NCR
Goal 2

To determine the linkage between socioeconomic, demographic, infrastructure, and environmental factors and property prices 

Aim: The second goal is to collect the data pertaining to the identified factors: socioeconomic, demographic, infrastructure, and environmental in Gurgaon and Faridabad region and statistically establish the linkage using regression. 

Methodology: It involves data collection of all identified variables for Gurgaon and Faridabad regions for the years 2020, 2021, 2022, and 2023. The data will involve:

  • compilation in MS Excel
  • preprocessing & transformation
  • trend analysis
  • assumption tests
  • regression test
  • Johansen cointegration test
  • VECM 
Milestones

To contribute and publish select a pending milestone.

Completed

There are no completed milestones.

Pending
Data collection
Real estate data transformation
Trend analysis of real estate market in Gurugram
Stationarity test of real estate data of Gurugram
Normality test of real estate data of Gurugram
Autocorrelation test of real estate data of Gurugram
Heteroskedasticity of real estate data of Gurugram
Multicollinearity of real estate data of Gurugram
Impact of socioeconomic, demographic, infrastructure, and environmental factors on real estate market of Gurgaon
Long term effect of factors affecting real estate market in Gurgaon
Short-Term and Long-Term Influences on Property Prices in Gurgaon