Property market overview March 2012 - 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. Property prices in the city have been on an uptrend since Oct’09. In Delhi NCR region, areas of Ghaziabad & Noida are the main property hot spot and sees maximum concentration among property seekers.
Top 5 localities in Delhi NCR on the basis of maximum real estate action are Indirapuram, Vaishali / Vasundhara, Sohna Road (Gurgaon), Golf Course Road (Gurgaon) and NH-8 Highway. The average per square feet (psf) rate for the city is around 7000/-.