Property Prices in India and their future trends
Live chat with users hosted by Mr Aditya Verma, CEO, Makaan.com on Moneycontrol.com. Please have a look at the chat transcipt below -
Q: Sir, out of Dwarka Expressway and Greater Noida, which is better for an end-user?
A: Both Dwarka Expressway and Greater Noida are coming up essentially as a residential hubs. But between the two, I would prefer Greater Noida for 2 reasons 1. It has a better mix of commercial & residential which is good for any area 2. The prevailing prices in Greater Noida are more attractive as compared to Dwarka Expressway Hope it helps.
Q: Sir, I purchased a 3 bhk unit in Anant Raj Madelia, Manesar for investment purpose @ 2800/- per sqft. What are the current resale rates in the area. Also, what future price appreciation can I see; and what rate is the best for exiting. Thanks.
A: Your purchase price is extremely good. Most people who entered Manesar during 2009-10 at 2300/- to 3000/- are sitting on good appreciation. The current rates for resale are in the range of 4200/- and 5000/- psf. You can expect a price appreciation of 7-10% pa from here on. Hope this helps.
Q: is the right time to buy property in hyderabad?
A: Property prices in Hyderabad have remained stable for over 2 years now; check Pricetrends at Makaan.com for more detail. I feel, this is the right time to invest there due to political stability and clarity.
Q: Sir, Dwarka Expressway area has seen a sharp vertical rise over the past few years. Do you feel that there is still scope for a major appreciation in this area, or you feel the price bubble is just about to burst from here on?
A: I agree that Dwarka Expressway has seen a vertical rise in property prices. People who invested there 4-5 years back have made good money but the same cannot be said for people who invested in last 12-20 months. There is a BIG gap in prices offered by developers and secondary market. This is not a very comfortable position so people should exercise caution.
Q: Sir, Current rates for buying a plot at Jakkur Bangalore and your comments on investment around North Bangalore?
A: North Bangalore has seen good development over the past few years. You can check the current rates there on pricetrends at Makaan.com. Among all the areas there, I would prefer hebbal, yelahanka among others.
Q: From investment angle which city will be better Noida or Lucknow I want to invest in flats If Noida then whether Noida extension or Greater Noida?
A: I am not sure if you are looking at capital appreciation or rental benefits or both. But if you want both, Noida will always give you better returns. For places to invest, you can search on Makaan.com by using "Invest" button. This will give you properties that can give you better RoA. Among areas in Noida for investment, you can look at Sec: 143, 77 and other areas on Noida Expressway. From a 6-7 years perspective you can also look at Yamuna expressway.
Q: Sir, I have purchased a 2 bhk flat in the Ramprastha Edge Towers, Sector 37d, Gurgaon (Dwarka Expressway). Original issue price was 2300/- per sqft in 2008. I have purchased it at 4125/-, 2 years back thru resale. If you visit the area, it looks like an urban jungle. What price appreciation can I expect in the near future? How would you rate this area for residential purpose?
A: Sector : 37D, is coming up as an area with high population density. The location of the sector is good and it could have appreciated more if there was more open space. I do not foresee any major price appreciation in the next 12 months. To keep a tap on property prices you can log on to Pricetrends at Makaan.com
Q: Sir, I need your opinion regarding Aashiana Aangan project in Bhiwadi. Is it a wise investment? What price appreciation can be seen in the near future? Also, overall, what scope of appreciation do you foresee in Bhiwadi area.
A: As a company policy, we do not comment on any specific project or developer; but on a general basis, Bhiwadi can be a good investment destination specially as it falls on the Indo-Japan industrial corridor. An investment there can fetch an appreciation of 7-10% pa. You can also try makaan.com "Invest" link to find more properties for investment in and around Delhi NCR.
Q: Keen to have your views on Jagatpura in Jaipur, purely from an investment pooint of view, with a three to four year horzon?
A: Acitvities in Jaipur real estate market have picked up after the formation of new and stable government. In fact over the past 6 months, Jaipur market has given a decent appreciation in value. In my opinion, an investment at the current rate can give a annual double digit appreciation over the next 3-4 years.
Q: Best region in Hyderabad for investment purpose budget 50 lakh should go for flat or plot of land?
A: In Hyderabad, you can look at Hi-tech City, Kondapur as potential areas for investment.