Tuesday, 21 January 2014

Real Estate prices unchanged in Delhi- NCR

Property Prices Remain Unchanged in Delhi-NCR region in Q3-13: according to 99acres Insite Report

·         Average property prices in Delhi-NCR region  have seen no change in Q3-13 as compared to  Q2-13
·         Average rentals in Delhi-NCR  have also stabilized in Q3-13 as compared to Q2-13

New 
Delhi,: 
99acres.com Insite is a quarterly report focusing on buying and rental price trends in residential real estate across 7 major cities of India. According to this report, prices per square foot in Delhi-NCR region have remained unchanged in Q3-13 as compared to Q2-13. On the other hand, annual comparison (Q3-13 with Q3-12) reflects a single digit growth of 8% Y on Y.

If you look at average rentals in the past quarter- they have remained unchanged with quarter on quarter analysis showing no movement in rentals this quarter. The unit being considered is a 3 BHK house.  The annual comparison (Q3-13 over Q3-12) however shows an increase of 3% Y on Y.

Commenting on the report, Mr.Vineet Singh, Business Head 99acres.com, said “The NCR market is facing a decline due to interplay of multiple factors like cautious financial market sentiments and steep decline in fresh inventories. The suburbs of NCR like Noida and Gurgaon have also witnessed no new launches. In fact they are impacted by slower deliveries from the previous quarters which have exacerbated the overall scenario. All this has cumulatively led to a non-steady pricing of existing projects in the city”  
Prices Analysis
Localities’ showing maximum increase in price per square foot-
Quarter on quarter (Q3-13 over Q2-13) comparison shows Sector 47 in Gurgaon showing a double digit growth of 19%. It was followed by Sarita Vihar in Delhi which has seen an increase of 11% this quarter.

Locality
Price per square foot
in Q2-13 (in Rs.)
 
Price per square foot
in Q3-13(in Rs.)
 
% Increase
Sector-47 Gurgaon
8260
9830
19%
Sarita Vihar
9450
10500
11%
Kaushambi
5270
5720
9%
Mayur Vihar - I
11250
12180
8%

Localities showing maximum decline in price per square foot-
Quarter on quarter (Q3-13 over Q2-13) analysis shows property prices in Kalkaji and Saket have declined by 11% and 5% respectively this quarter.

Locality
Price per square foot
in Q2-13 (in Rs.)
 
Price per square foot
in Q3-13(in Rs.)
 
% Decrease
Kalkaji
14440
12910
-11%
Saket 
16250
15500
-5%

Rental Analysis
The year on year comparison (Q3-13 with Q3-12) shows residential rental values of a 3BHK home in Hauz Khas and Greater Kailash have seen an increase of 23% and 21% respectively.  In terms of decline localities like Paschim Vihar and Green Park have witnessed a dip of 9% each this year
Localities’ showing maximum increase in rentals of a 3 BHK house-
The quarter on quarter analysis shows that areas like Sushant lok and Greater Kailash have seen an increase of 16% and 12% respectively this quarter.

Locality Name
Rental for 3 BHK in Q2-13 (in Rs.)
Rental for 3 BHK in Q3-13 (in Rs.)
% Increase
Sushant Lok
34600
40000
16%
Greater Kailash
54800
61200
12%
Hauz Khas
55000
60300
10%
Saket 
36700
39000
6%

Localities showing maximum decline in rentals of a 3 BHK house-

The quarter on quarter (Q3-13 over Q2-13) analysis shows New Friends Colony and Green Park have seen a decline of 20% and 10% respectively. 

Locality Name
Rental for 3 BHK in Q3-12 (in Rs.)
Rental for 3 BHK in Q3-13 (in Rs.)
% Decrease
New Friends Colony
85700
68300
-20%
Green Park
50000
45000
-10%
Safdarjung
55000
50000
-9%
East of Kailash
43000
39200
-9%

The Delhi real estate market has demonstrated humble growth in this quarter. Residential real estate is likely to remain constant in the coming quarter since the new property launches have seen a muted activity alongside the volatility of India economy which is dampening the real estate sentiment in the city.


This report has been prepared by 99acres research team to give an overview of the residential real estate landscape in seven major cities of India. The cities covered include- NCR region, Mumbai, Bangalore, Chennai, Hyderabad, Pune and Kolkata. The report compares the prices and rents between Q3-13 (July-Aug-Sep) and Q2-13 (Apr-May-June) of this year.  The publication endeavors to throw light on the price and rental trends in residential houses.  The scope of the report also includes the price and rental movement in key localities of these cities since prices and rentals vary across localities, neighborhoods and clusters.


99acres.com is the no.1 property portal in India. It was launched by Info Edge, in September 2005, as a gateway to the country's property bazaar, and an information 'exchange' for buying, renting and selling of all types of residential and commercial properties anywhere in the country.

The website enables easy access to a huge property bank for netizens and allows for direct connect with brokers/builders in cities in urban and remote parts of India. The site received over 41% traffic share in May’13 as per the ComScore data and also emerged as the most sought after property portal by Amity, Accommodation Times, Prestige Group and Star industry   group.   With properties of almost 5000 builders, 20,000 brokers and 1, 00,000 individuals, the portal lists over 4, 00,000 Residential & Commercial Properties for Sale. The website has a registered database of 15, 00,000 users.

No comments:

Post a Comment