Monday, 29 August 2011

Soar of Real Estate prices in Delhi NCR

Prices in New Delhi, June 08 : Real Estate in some locations in the capital soared by 20 to 27 percent in the first quarter of current fiscal year, compared to the same period of 2010 - 11, an industry report said on Wednesday.

'Property prices in Delhi has seen the escalation by comparing the prices per square meter of area (Q) 1.11 for Q1-10. Key locations - Sarita Vihar and Rohini - I've seen a 27 per cent and 20 per cent price appreciation compared to prices over Q1-10, said a report online commercial real estate portal 99acres.com.

According to the report, the feeling of rising prices will continue as prices are an average growth of 15 percent.

"If current trends continue, we will see price stability in Delhi in the future. But from now I see no price reduction occurs in the market in New Delhi, "said Vineet Singh, business director of 99acres.

The report said prices of South Delhi Sarita Vihar locality of PSF increased by 27.60 per cent to Rs.8, 110 as compared to Rs.6, 356 in the same period of 2010-11, while at North Rohini Delhi-based PSF prices appreciated by 25 percent.

Patparganj This is followed by an increase in the price of 21.68 per cent PSF. Other locations such as south-based PSF Dwarka sub city Delhi prices also rose by 28 percent in sector-11 and the sector 2.

The real estate prices in the national capital region as suburban Noida and Gurgaon also increased due to the commissioning of the underground railroad.

Prices per square meter in the sector 110 and sector 93 of Noida was also up 16 percent and 11 percent compared to prices in the corresponding period last fiscal year, the report said.

"Gurgaon witnessed an upward trend in property prices. Property located on the Sohna road and DLF City Phase IV has seen the highest price appreciation of 46 percent and 42 percent respectively in Q1-11 in Q1-10, the report said.

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