Real estate among top 3 micro-markets in Delhi-NCR; witnesses ‘upswing’ in demand, value
Real estate continues to be the best investment option in Delhi-NCR micro-markets.
The real estate market in the top three micro-markets - Delhi, Noida and Gurgaon - is witnessing an upswing in demand and value. Real estate continues to be the best investment option in Delhi-NCR micro-markets, with people choosing to prefer these cities over others to live.
- Real estate in Delhi-NCR micro-markets to be the hotspots as far as the demand is concerned.
- In Gurgaon, Golf Course Road and Dwarka Expressway saw the highest peak in rentals with 14 per cent and 12 per cent YoY growth, respectively, making them the hotspots.
- In Noida, the highest growth in the capital values for ready-to-move properties was witnessed along Noida-Gr Noida E-way, along sectors 50, 75, 78, 79 & 107, with over 13 per cent YoY increase.
- In Delhi, the sales took to a new high, establishing new price benchmarks across South and Central Delhi, with Central Delhi leading from the front.
In a report by Research & Reports (R&R), it was highlighted that each micro-market in Delhi-NCR is showing consistent momentum, with growth beyond everyone's expectations. Talking separately about all three micro-markets and their growth areas, the trends clearly show some prime pockets acing over others.
In Gurgaon, the three major markets include Golf Course Road, Golf Course Extension & SPR, and New Gurugram and Expressway, which are all registering YoY appreciation, and showing growth both, in terms of value and rentals. The ready-to-move properties here witnessed over 16 per cent YoY increase in capital values. With over 22 per cent YoY increase, under-construction properties saw higher appreciation in capital values as compared to ready-to-move properties. Demand for rentals witnessed an increase of 12 per cent YoY in average rentals. Golf Course Road and Dwarka Expressway saw the highest peak in rentals with 14 % and 12% YoY growth, respectively.
In Noida, the prominent markets include, Sector 150, Noida-Greater Noida Expressway, and Sectors like 50, 75, 78, 79 and 107. An average of 12 per cent YoY growth in completed properties here witnessed a significant increase in the capital values. The highest growth in the capital values for ready-to-move properties was witnessed in Sectors 50, 75, 78, 79 & 107, with over 13% YoY increase. In the under-construction property segment, the annual increase in capital values stood at around 14 per cent. The highest growth in the capital values for under-construction properties was noted in the micro-market of Noida-Gr Noida. Average rentals of premium properties in Noida increased by over 14% last year. Noida-Gr Noida Expressway saw the highest, over 16% annual increase, in rentals.
In Delhi, the top markets include, South-West, South-East, and South-Central and Central, with prominent areas including, Shanti Niketan, Anand Niketan, Westend, Vasant Vihar, GK-I, GK-II, NFC, Defence Colony, Sundar Nagar, amongst others. These areas witnessed a significant increase in the capital value of residential plots, with some markets surging ahead. South-Central market with 10% YoY, and South-East market with 3% YoY growth witnessed the highest and the second highest increase in prices respectively. The sales took to a new high, establishing new price benchmarks across South and Central Delhi, with Central Delhi leading from the front. As far as rental values are concerned, South-Central with 15% YoY growth witnessed the highest increase in rentals, followed by South-West and Central at 12-13% respectively.
Vishesh Prakash of Research & Reports (R&R), says, "With the real estate market continuing to show signs of buoyancy and both end users and investors cued in, the market continues to perform well. With each micro-market in the National Capital Region, having its high points, some clearly outperform others. Key micro-markets Gurugram, Delhi and Noida are not only witnessing growth and appreciation, but also soaring high on liability. With no real threat these key micro-markets will only add transactions in the market."
These trends affirm buyer preference for areas offering better amenities, and a product mix that suits their requirements in the current times. A number of factors are driving the success of Gurgaon, Noida and Delhi micro-markets and their prominent zones, which includes their favourable demographics, robust infrastructure, and availability of prominent projects here.
This story has been provided by NewsVoir. ANI will not be responsible in any way for the content of this article.