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.