The entire Delhi-NCR region have witnessed a hike in rental rates in Q2-11 over Q2-10
Improved residential facilities and booming IT and ITES sectors has resulted in increased rentals in the Gurgaon, Noida and Ghaziabad region. New Delhi, 24th August 2011: A study by 99acres.com, India’s no 1 real estate portal showed that rentals for the Delhi and NCR region have seen an appreciation if we compare rents of a 3BHK residential apartment in Q2-11(Apr-May-Jun 2011) over Q2-10(Apr-May-June 2010). Though the rate of appreciation differs according to localities, there are enough localities which have witnessed double digit growths.
Commenting on the same Vineet Singh, Business Head, 99acres.com said “As far as rental trends for Delhi are concerned, the market will continue to see an upward movement. Although the Indian economy is still growing at a healthy pace, the jittery global markets may see some slowdown effect on the Indian market as well. Coupled with the already slow new project market and delayed construction of ongoing projects means that rentals will continue to escalate.”
A look at the rental prices of a 3BHK house in key localities of South Delhi and Dwarka shows that the residential areas of Kalkaji and Sector 6 Dwarka witnessed maximum appreciation. Both these areas have respectively witnessed 13% rise in rentals in Q2-11 over Q2-10. Other important localities of South Delhi like Greater Kailash, Saket and Malviya Nagar saw rentals appreciate by 9%, 7% and 6% respectively. The rentals in the Dwarka region have appreciated by 9% over a period of one year with Sector 12, 18 and 4 witnessing a 10% rise in rentals in Q2-11 over Q2-10.
Other important residential localities of Delhi like Rohini in the North and Mayur Vihar in the East also saw escalations in rentals by 26% and 13% respectively in Q2-11 over Q2-10. IP extension in East Delhi saw steady rentals while Janakpuri saw 4% appreciation in rentals in Q2-11 over Q2-10.
Most of the localities of the Noida and Ghaziabad region have seen double digit appreciation in rentals. Key areas of Noida like Sector 62, Sector 61, Sector 93, and Sector 82 have seen rentals escalating within the range of 14% to 26% over a period of one year. In Ghaziabad area, Vaishali saw maximum appreciation with 19% rise in rentals in Q2-11 over Q2-10.
All important localities of Gurgaon saw double digit rental growth. Important residential localities like Sector 56, Nirvana Country and Sohna Road saw 19%, 15% and 13% rise in their rentals in Q2-11 as compared to Q2-10. Both Sector 52 and Sushant Lok witnessed 14% rise in rentals over the same time period.
Therefore, while Delhi has witnessed a substantial appreciation in rentals, the NCR region (Gurgaon and Noida) has seen far higher growth. On a national level, when we look at rentals across the other important cities of the country, then residential rentals in Mumbai moved up by 9%, Delhi by 11 %, and Pune saw flat residential rental rates. Posted: 24 Aug 2011 04:52 AM PDT
Improved residential facilities and booming IT and ITES sectors has resulted in increased rentals in the Gurgaon, Noida and Ghaziabad region. New Delhi, 24th August 2011: A study by 99acres.com, India’s no 1 real estate portal showed that rentals for the Delhi and NCR region have seen an appreciation if we compare rents of a 3BHK residential apartment in Q2-11(Apr-May-Jun 2011) over Q2-10(Apr-May-June 2010). Though the rate of appreciation differs according to localities, there are enough localities which have witnessed double digit growths.
Commenting on the same Vineet Singh, Business Head, 99acres.com said “As far as rental trends for Delhi are concerned, the market will continue to see an upward movement. Although the Indian economy is still growing at a healthy pace, the jittery global markets may see some slowdown effect on the Indian market as well. Coupled with the already slow new project market and delayed construction of ongoing projects means that rentals will continue to escalate.”
A look at the rental prices of a 3BHK house in key localities of South Delhi and Dwarka shows that the residential areas of Kalkaji and Sector 6 Dwarka witnessed maximum appreciation. Both these areas have respectively witnessed 13% rise in rentals in Q2-11 over Q2-10. Other important localities of South Delhi like Greater Kailash, Saket and Malviya Nagar saw rentals appreciate by 9%, 7% and 6% respectively. The rentals in the Dwarka region have appreciated by 9% over a period of one year with Sector 12, 18 and 4 witnessing a 10% rise in rentals in Q2-11 over Q2-10.
Other important residential localities of Delhi like Rohini in the North and Mayur Vihar in the East also saw escalations in rentals by 26% and 13% respectively in Q2-11 over Q2-10. IP extension in East Delhi saw steady rentals while Janakpuri saw 4% appreciation in rentals in Q2-11 over Q2-10.
Most of the localities of the Noida and Ghaziabad region have seen double digit appreciation in rentals. Key areas of Noida like Sector 62, Sector 61, Sector 93, and Sector 82 have seen rentals escalating within the range of 14% to 26% over a period of one year. In Ghaziabad area, Vaishali saw maximum appreciation with 19% rise in rentals in Q2-11 over Q2-10.
All important localities of Gurgaon saw double digit rental growth. Important residential localities like Sector 56, Nirvana Country and Sohna Road saw 19%, 15% and 13% rise in their rentals in Q2-11 as compared to Q2-10. Both Sector 52 and Sushant Lok witnessed 14% rise in rentals over the same time period.
Therefore, while Delhi has witnessed a substantial appreciation in rentals, the NCR region (Gurgaon and Noida) has seen far higher growth. On a national level, when we look at rentals across the other important cities of the country, then residential rentals in Mumbai moved up by 9%, Delhi by 11 %, and Pune saw flat residential rental rates. Posted: 24 Aug 2011 04:52 AM PDT
Properties in Ghaziabad are causing ripples in the real estate market in Delhi/NCR. Scope of a flat or house in Ghaziabad is ever increasing owing to its connectivity convenience with the national capital and presence of Top-notch industries and builders of India. Housing in Ghaziabad is also buoyed by the fact that so many builders are presenting a level-playing field for people in terms of world-class facilities like clubs, parks, facilities, malls, arcade etc.Aquapolis of AnsalAPI tells all.
ReplyDelete