Property prices stable in NCR, soaring elsewhere | india | Hindustan Times
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Property prices stable in NCR, soaring elsewhere

Property prices in the National Capital Region (NCR) have remained more or less stable despite rising rapidly elsewhere in the country. Prices of luxury houses — costing more than Rs 75 lakh a unit — have however, begun to rise in Gurgaon.

india Updated: Mar 17, 2010 00:34 IST
Lalatendu Mishra

Property prices in the National Capital Region (NCR) have remained more or less stable despite rising rapidly elsewhere in the country. Prices of luxury houses — costing more than Rs 75 lakh a unit — have however, begun to rise in Gurgaon.

Affordable home prices in NCR have seen a single digit growth while prices of such homes in Mumbai have gone up by a whopping 32 per cent in past six months.

According to a 13 city survey conducted by real estate research agency PropEquity, the NCR — comprising of five key real estate markets such as Gurgaon, Faridabad, Ghaziabad, Noida and Greater Noida — witnessed the least price increase compared to other regions.

In Noida prices of affordable homes in the price range of Rs 5 lakh to Rs 30 lakh rose by only 2 per cent while the same category witnessed a rise of 9 per cent in Gurgaon.

The price rise in all segments has been the highest in western region comprising of Mumbai, Navi Mumbai, Thane and Pune.