Buying a real estate property in Gurgaon or Delhi is perhaps the biggest investment in today’s age. If you are planning to buy property in NCR, there are various options to look for. You can opt for residential property in the capital city Delhi or in Noida, Greater Noida, Gurgaon and Ghaziabad, comprising the National Capital Region. Of course, everything depends on your budget. The good news is that over the least 2-3 years, according to a report by National Housing Bank's Residex index, the property prices in some areas in Delhi and the NCR have dropped or remained stable.
Leaving aside the high-end residences and luxury apartments in Delhi’s posh localities, Delhi is the only Metro where real estate prices have gone down during January-March quarter 2014. According to a report, prices per square foot in Delhi-NCR region have not shown any fluctuation in quarter 1 of 2014 as compared to quarter 4 of 2013. If we compare the first quarter of both the years, there has been no changes in capital prices. South Delhi residential markets like GK1, GK2, Saket, Hauz Khas, Green Park have not shown much price variations over the last two years. However, in suburbs of Delhi like Mayur Vihar, Patpadganj, Dwarka, apartments’ prices have become quite affordable for the mid and high income level group. Similarly in the neighbouring Noida and Ghaziabad, these apartments will cost much less compared to Delhi. The NCR region has witnessed no fluctuation in capital prices when we make a quarter on quarter analysis.
The reason for the dip in the property prices is due to various factors like sluggish economic growth, high inflation and high interest rates, which in turn have a deep impact on consumer spending. Developers are continuing with launching and developing projects but they are saddled with high debt and high inventory levels have forced them to reduce prices in some areas. At present, Gurgaon real estate property is comparatively expensive, compared to Delhi and Noida. But, overall the property rates in Delhi NCR have remained stable and will remain so for a few months.
Blog Source: http://kashishgroup.com/manorone/stability-of-property-prices-in-delhi-ncr-right-time-to-invest/
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