There's a good news for property seekers in Delhi NCR as many prime locations in the region are witnessing sharp decline in property prices by up to 20 per cent since 2013. According to a report, residential property prices in many prime locations of the national capital region have gone down to the same level as they were in 2013.
While emerging markets in Delhi NCR are still witnessing healthy capital appreciation, property prices in posh areas registered a downfall. Posh areas of south and central Delhi such as Vasant Vihar, Defence Colony, Jor Bagh and Golf Links registered a major decline in property prices by 15-20 per cent.
(Image source: http://articles.economictimes.indiatimes.com/2015-04-15/news/61180275_1_home-prices-delhi-ncr-residential-prices )
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group says, “The Delhi NCR market has a huge pile up of inventory and with many real estate projects being under-construction, the supply of properties is only going to increase further. This will led to decline in property prices as more developers would try to clear their unsold inventory at the earliest.”
While premium locations saw a decline in property prices, they are very much static in most of the areas in Gurgaon and Noida at Rs 6,500-17,000 per sq ft and Rs 5,500-8,000 per sq ft, respectively since 2013.
With favorable economic environment, reduced home loan rates and decline in property prices, this seems to be the best time for buying a residential property in Delhi NCR. There are many builders who are giving attractive offers on the purchase of their properties and one can definitely look forward to these projects for maximum capital appreciation in the future.
Mr. Anil Mithas of Unnati Fortune Group says, “While prime locations in Delhi NCR saw a decline in property prices, emerging markets are still offering better capital appreciation to the investors. It is therefore important to decide whether you want to buy a property for living or you want to invest in a property to get maximum capital appreciation in the future.”
While emerging markets in Delhi NCR are still witnessing healthy capital appreciation, property prices in posh areas registered a downfall. Posh areas of south and central Delhi such as Vasant Vihar, Defence Colony, Jor Bagh and Golf Links registered a major decline in property prices by 15-20 per cent.
(Image source: http://articles.economictimes.indiatimes.com/2015-04-15/news/61180275_1_home-prices-delhi-ncr-residential-prices )
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group says, “The Delhi NCR market has a huge pile up of inventory and with many real estate projects being under-construction, the supply of properties is only going to increase further. This will led to decline in property prices as more developers would try to clear their unsold inventory at the earliest.”
While premium locations saw a decline in property prices, they are very much static in most of the areas in Gurgaon and Noida at Rs 6,500-17,000 per sq ft and Rs 5,500-8,000 per sq ft, respectively since 2013.
With favorable economic environment, reduced home loan rates and decline in property prices, this seems to be the best time for buying a residential property in Delhi NCR. There are many builders who are giving attractive offers on the purchase of their properties and one can definitely look forward to these projects for maximum capital appreciation in the future.
Mr. Anil Mithas of Unnati Fortune Group says, “While prime locations in Delhi NCR saw a decline in property prices, emerging markets are still offering better capital appreciation to the investors. It is therefore important to decide whether you want to buy a property for living or you want to invest in a property to get maximum capital appreciation in the future.”