Property prices in Delhi and NCR up by 11%

Commenting on the same Vineet Singh,Business Head,99acres.com said “ We studied the property price trends of localities across Delhi and found that the real estate sector has moved out of the doldrums and is again back on track with prices of properties in key localities moving in an upward direction.”

A look at the property prices of key localities of Delhi show that Janakpuri and Vasant Kunj has seen a 28% and 20% appreciation in prices if we compare Q1-10 prices over Q1-09. The prevailing rates of the localities are at Rs.6548psf for Janakpuri and Rs.9758psf for Vasant Kunj. Dwarka has witnessed a 14% upward movement in price over the same period.

Noida gained a lot of popularity over the last one year primarily because of introduction of the metro rail services in this region which has made commute much easier and convenient. Sector 93 and Sector 61 of Noida has seen prices moving up by 19% and 8% in Q1-10 over Q1-09 and property prices are floating around Rs. 4431psf and Rs. 4791psf in Q1-10. Ghaziabad has also seen steadily upward moving property rates with Vaishali and Indrapuram moving up by 8% and 6% in Q1-10 over Q1-09.