Almost all localities in Delhi
have witnessed a price appreciation in the first quarter of 2012 when compared
to the same period last year. Rohini and Mayur Vihar saw the highest price rise
with 32% and 16% increase in property prices respectively in
the first quarter of 2012 over the first quarter of 2011. Most of the other
areas saw prices increase within the range of 12% and 19% respectively during
the same period.
“Capital values in Delhi continue
to move upwards even though the market seems to be in a phase of stagnation and
there is talk of an imminent price reduction. But, even in Delhi we have seen
price appreciation moderating to an average of about 20%. If the present trend
continues, we’ll see price stability in Delhi going forward. But, as of now I
do not see any price reduction happening in the Delhi market. At its best the
rates will stabilise,” says Vineet Singh, business head, 99acres.com
All localities of Dwarka have
witnessed a double digit percentage increase in property prices over the last
one year. The most important factor fueling the land rate hike in this region
is the Delhi Metro and its close proximity to the airport which has emerged as
the turning point for real estate prices for this region.
Both, Sector 4 and Sector 6 saw prices appreciate by 33% respectively in the
first quarter of 2012 over last year. Sector 3 has seen the maximum price rise
with almost 40% hike when compared to the previous year, says the study by
99acres.com
Localities in Noida and Ghaziabad
have seen price appreciation across all localities. Sector 78 and Sector 107 of
Noida have seen prices moving up by 29% and 27% respectively during the first
quarter of this year compared to last year with property prices
hovering around R3860 psf and R3939 psf in the first quarter of 2012. The rates
moved up by 23% and 18% respectively in the first quarter of this year over
last Rohini and Mayur Vihar saw highest price rise with 32% and 16% in Delhi In
Noida, Sector 78 and Sector 107 have seen prices moving up by 29% and 27%
respectively Dwarka, witnessed a double digit percentage increase in property
prices over the last one year Palam Vihar and Central Park in Gurgaon seen
prices moving up by 40% and 36% respectively year in Kaushambi and Raj Nagar
Extension.
Gurgaon also witnessed an upward
trend in property prices. Properties located on the Palam Vihar and Central
Park saw the highest appreciation in real estate Property prices with rates moving up by 40%
and 36% respectively in the first quarter of 2012 over the first quarter in
2011. Localities like Golf Course Road and DLF Phase 2 witnessed a 25% and 28%
increase in prices in during the same period.
