Delhi realty sector registered an average appreciation of 6 per cent in the premium apartment category during the Jan-Mar 2011 period as compared to the Oct-Dec 2010 period.
This was followed by other areas such as Preet Vihar, Kingsway Camp, Narela, Patparganj, Dwarka, South Estension, Greater Kailash and Mayur Vihar with a 8-10 per cent growth in values. According to Raj Kumar, city realtor and investor, “premium apartments were in demand with a number of transactions happening during the previous quarter.”
Premium apartments and builder floors in West, East and North Delhi gained more attention and seemed affordable due to the high values of the premium homes in South and Central Delhi.
There was a surge in demand for the premium segment in the Delhi realty market. Influenced by the concept of luxury living, most of the end-users preferred ready-to-move-in premium apartments over old re-sale properties.
By and large new properties which are well-connected and offer the requisite amenities fetched more demand and transactions than the re-sale market. According to city realtors, most of the small and medium builders of the city are buying old properties and converting them into premium houses and then selling them. It is a most profitable venture and both the builder and seller are making profit out of it.