Market Commentary - Delhi
Delhi, the capital city of India, has been a cultural and commercial hub for several decades now. The National Capital Region (NCR) comprises of Noida, Greater Noida, Ghaziabad, Gurgaon and Faridabad making it the 2nd most populous city in India and the largest in terms of area. Being the capital, the Real estate activities have always been thriving in the city and it enjoys privileges like better connectivity, technology and an overall better infrastructural compared to other cities in India. In Delhi NCR region, areas of Ghaziabad & Noida are the main property hot spot and sees maximum concentration among property seekers.
The city has experienced a drop of 6.29% in property prices over the past 1 year. The per square feet rate for property has moved from Rs. 4,823/- to Rs. 4,583/-.
Over the last 6 months the property prices saw a depreciation of 8.96%, the rates dropped from Rs. 5,025 psf to 4,583 psf. Last three months saw an appreciation of 2.18%; the rates moved from Rs. 4,302/- psf to Rs. 4,583/- psf. Top 5 localities in Delhi NCR on the basis of maximum real estate action are Noida Extn, Indirapuram, Raj Nagar Extension, Nahar Par and Yamuna Expressway. The average per square feet (psf) rate for the city is around 4,422/-.
Top 10 localities of Delhi in terms of Buying are:
In terms of Renting, the city has experienced a negligible drop of 0.06% in property prices over the past 1 year. The per square feet rate for property rental has dropped from Rs. 16.13/- to Rs. 16.09/-.
Over the last 6 months the property prices saw a depreciation of 2.88%, the rates dropped from Rs. 16.48 psf to 16.09 psf. Last three months saw a dip of 1.54%; the rates dropped from Rs. 16.29/- psf to Rs. 16.09/- psf. Top 5 localities in Delhi NCR on the basis of maximum real estate action are Indirapuram, DLF City phase V, Gurgaon Sec – 56, Dwarka Sec-6 and Golf Course Road. The average per square feet (psf) rate for the city is around 16.09/-
Top 10 localities of Delhi are: