Property prices in the Delhi and NCR region moved up by 11% in Q1-10 over Q1-09

Online, June 10, 2010 (Newswire.com) - New Delhi, 7 June, 2010: A study by 99acres.com, India's no 1 real estate portal revealed that the property price trends for the Delhi and NCR region has seen an escalation if we compare per square feet prices(PSF) of Q1-10 over Q1-09. This clearly reflects that the overall sentiment of the sector has improved drastically since the downturn and the property prices are on the path to recovery.

Commenting on the same Vineet Singh, Business Head, 99acres.com said "The Delhi-NCR market has always been an attractive destination for buyers because it provides high return on investments. We studied the property price trends of localities across Delhi and found that the real estate sector has moved out of the doldrums and is again back on track with prices of properties in key localities moving in an upward direction."
A look at the property prices of key localities of Delhi show that Janakpuri and Vasant Kunj has seen a 28% and 20% appreciation in prices if we compare Q1-10 prices over Q1-09. The prevailing rates of the localities are at Rs.6548psf for Janakpuri and Rs.9758psf for Vasant Kunj. Dwarka has witnessed a 14% upward movement in price over the same period.

Locality Name- Janakpuri, Q1-Q9 psf prices-5104, Q1-Q10 psf prices-6548
Locality Name- Vasant Kunj, Q1-Q9 psf prices-8148, Q1-Q10 psf prices-9758
Locality Name- Sector 10 Dwarka, Q1-Q9 psf prices-4898, Q1-Q10 psf prices-5597

Noida gained a lot of popularity over the last one year primarily because of introduction of the metro rail services in this region which has made commute much easier and convenient. Sector 93 and Sector 61 of Noida has seen prices moving up by 19% and 8% in Q1-10 over Q1-09 and property prices are floating around Rs. 4431psf and Rs. 4791psf in Q1-10. Ghaziabad has also seen steadily upward moving property rates with Vaishali and Indrapuram moving up by 8% and 6% in Q1-10 over Q1-09.

Locality Name- Sector 93 Noida, Q1-Q9 psf prices-3724, Q1-Q10 psf prices-4431
Locality Name- Sector 61 Noida, Q1-Q9 psf prices-4438, Q1-Q10 psf prices-4791
Locality Name- Vaishali, Q1-Q9 psf prices-3135, Q1-Q10 psf prices-3387
Locality Name- Indrapuram, Q1-Q9 psf prices-3032, Q1-Q10 psf prices-3209

Localities of Gurgaon also witnessed an upward trend in property prices. Properties located on the Golf Course Road and Sohna Road has seen the highest appreciation in prices with prices moving up by 53% and 43% in Q1-10 over Q1-09. Localities like Vatika City and DLF Phase II witnessed a 23% and 18% increase in prices in Q1-10 over Q1-09 with property prices floating around Rs. 4326psf and Rs.5701psf in Q1-10.

Locality Name- Golf Course Road, Q1-Q9 psf prices-4874, Q1-Q10 psf prices-7500
Locality Name- MG Road, Q1-Q9 psf prices-5834, Q1-Q10 psf prices-7000
Locality Name- Vatika City, Q1-Q9 psf prices-3521, Q1-Q10 psf prices-4326
*psf: per square feet

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