Property market overview November 2011 - Delhi
Delhi is the 2nd most populous city in India. Being the capital city, it has been a cultural and commercial hub for several decades. Real estate activities have always been dynamic in the city and it enjoys certain 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 spite of the current slowdown in property market owing to high interest rate and inflation, the city has experienced a near 23% jump in property prices over the past 7-8 months.
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, Sohna Road (Gurgaon), Vaishali, Noida Sector 75 and NH-58 Highway. The average per square feet (psf) rate for the city is around 6820/-.