Delhi has always been the most sought after real estate destinations of India. In recent years, Delhi property market has witnessed an exponential growth rate due to immense improvement in the transport system, expansion of Delhi Metro Rail and the commencement of 2010 Commonwealth Games in the capital. A real estate consultancy had recently rated New Delhi as the 16th most expensive real estate market of the world and one of the costliest retail destinations in India. The demand for real estate development is expected to remain robust across Delhi real estate market due to a huge demand from IT/ITES and other various sectors.
Delhi residential property market has witnessed immense growth because of huge demand for housing from various sectors. South Delhi is one of the most happening housing places in Delhi real estate market and the rental values of residential properties like the flats, villas and duplex houses are extremely at higher end.
Delhi, the national capital of India is one of the hottest destinations for investors. One of the main reasons why Delhi is an investor's priority is due to its good connectivity with most of the cities in India other than the best connecting city to all international airports. The property prices in Delhi in the recent times have been quite exorbitant.
Due to all these reasons, the prices of property in Delhi increased exponentially. But with the slowdown, one can see the rates for both the commercial and residential properties coming down.
Delhi's Khan Market has also been in the news recently for being one of the costliest retail locales in the world.
Till some time back, in the residential market segment, Delhi has been known to have made the most exorbitant transactions as properties have been sold for millions. This trend which was earlier common in the posh localities of South Delhi is now moving towards earlier less significant places like Dwarka. These days, the rental values of residential properties like the apartments and independent houses are quite high.
Property rates in Delhi:
Apartment rates in Delhi:- Central Delhi ? Rs 7, 500 to Rs 28, 000 per sq ft East Delhi ? Rs 3, 000 to Rs 6, 000 per sq ft West Delhi ? Rs 4, 000 to Rs 10, 000 per sq ft North Delhi ? Rs 5, 000 to Rs 8, 000 per sq ft South Delhi ? Rs 3, 500 to Rs 12, 500 per sq ft
Builder flats rate in Delhi: Central Delhi ? Rs 2, 700 to 18, 000 per sq ft East Delhi ? Rs 4, 000 to Rs 10, 000 per sq ft West Delhi ? Rs 5, 800 to Rs 13, 000 per sq ft North Delhi ? Rs 5, 000 to Rs 14, 000 per sq ft South Delhi ? Rs 4, 000 to Rs 28, 000 per sq ft
Plot rates in Delhi:
Central Delhi ? Rs 80, 000 to Rs 5, 00, 000 per sq ft East Delhi ? Rs 25, 000 to Rs 1, 00, 000 per sq ft West Delhi ? Rs 1, 00, 000 to Rs 2, 00, 000 per sq ft North Delhi ? Rs 70, 000 to Rs 2, 50, 000 per sq ft South Delhi ? Rs 75, 000 to Rs 4, 00, 000 per sq ft
Rental Values in Delhi:
Apartment rental values (2 Bedroom ? Hall ? Kitchen) of Delhi:- Central Delhi ? Rs 8, 000 to Rs 50, 000 per month East Delhi ? Rs 5, 500 to Rs 13, 000 per month West Delhi ? Rs 3, 000 to Rs 10, 000 per month North Delhi ? Rs 5, 000 to Rs 15, 000 per month South Delhi ? Rs 15, 000 to Rs 35, 000 per month
Builder flat rental values in Delhi:- Central Delhi ? Rs 10, 000 to Rs 60, 000 per month East Delhi ? Rs 4, 000 to Rs 40, 000 per month West Delhi ? Rs 10, 000 to Rs 20, 000 per month North Delhi ? Rs 6, 000 to Rs 30, 000 per month South Delhi ? Rs 8, 000 to Rs 1, 50, 000 per month
These are the latest rates and rental values of highly potential realty market of Delhi. Being the national capital, the city boasts of a lucrative real estate market. The city has a lot to offer both to sellers and buyers.
The financial capital of India, Mumbai has always been the leader in the indicative prices of the Indian real estate market. Even during the slowdown, Mumbai is the frontrunner when it comes to property. In the past as well, it has shown a record rise in real estate prices at par with some of the highest property prices in the world. That is why Mumbai is called the ?Manhattan of India?.
It is not only the residential market of Mumbai that boasts of skyrocketing property prices but the commercial market of the city as well touch the sky. But these days, due to the slowdown, the city is witnessing a correction in prices both in residential and commercial markets. In fact, it is the best time to buy a property in the city with the developers offering lower prices and discounts. Also, one should consider buying property now with lower interest rates on home loans provided by banks.
The real estate prices as well as the increase in rental values in Mumbai can be credited to the large scale investments in the commercial sector and the residential sector. Mumbai has always been the favorite spot for the corporate sector for developing their headquarters in the city. Besides that, increasing investments by MNCs in the IT, ITES and the BPO sector have led to a growing demand for office space; which as a result have created an imbalance in demand and supply for residential property. The rental values in Mumbai are also high in comparison to that in other metros and cities.
The retail market of Mumbai also witnessed a huge hike in prices during the boom in the real estate market. In fact, it is one of the foremost cities to be hit by the retail buzz. With the coming up of the retail market, there has been an increasing demand for retail properties in the financial capital of India. This increase in demand has created a viable market for mall space and other kind of retail stores and showrooms. These retail stores and malls are either owned by a business or some brand outlet or leased for hefty prices as their demand is usually very high. Mumbai has been ranked seventh among the most expensive cities in the world to carry out a business and to live in.
Although, the prices of different kinds of property in Mumbai differ from location to location, the following is an indicative list of realty prices of both the residential as well as commercial spaces in Mumbai.
Here are some indicative rates to apprise you of the market conditions. Prices in South Mumbai in April 2009: Cuffe Parade - Rs 20, 000 ? 62, 000 per sq ft Churchgate ? Rs 18, 000 ? 30, 000 per sq ft Marine Lines ? Rs 14, 000 ? 22, 000 per sq ft Malabar Hill ? Rs 20, 000 ? 65, 000 per sq ft Napeansea Road ? Rs 20, 000 ? 65, 000 per sq ft Worli ? Rs 18, 000 ? 45, 000 per sq ft Prabhadevi ? Rs 13, 000 ? 24, 000 per sq ft Mahim ? Rs 8, 500 ? 14, 000 per sq ft
Prices in Central Suburbs in April 2009: Byculla ? Rs 8, 500 ? 11, 000 per sq ft Wadala ? Rs 5, 000 ? 8, 000 per sq ft Sion ? Rs 6, 500 ? 9, 500 per sq ft Kurla ? Rs 4, 000 ? 6, 500 per sq ft Powai ? Rs 4, 500 ? 9, 000 per sq ft Chembur ? Rs 3, 750 ? 7, 000 per sq ft Ghatkopar ? Rs 4, 500 ? 7, 500 per sq ft Bhandup ? Rs 3, 750 ? 6, 000 per sq ft Mulund ? Rs 3, 750 ? 7, 000 per sq ft Thane ? Rs 4, 000 ? 6, 000 per sq ft Dombivalli ? Rs 1, 400 ? 2, 500 per sq ft Kalyan ? Rs 1, 400 ? 2, 200 per sq ft Ambernath ? Rs 1, 100 ? 1, 600 per sq ft
Prices in Navi Mumbai in April 2009: Vashi ? Rs 3, 250 ? 5, 500 per sq ft Airoli ? Rs 2, 500 ? 4, 000 per sq ft Kopar Khairane ? Rs 3, 500 ? 5, 000 per sq ft Sanpada ? Rs 3, 000 ? 5, 000 per sq ft Nerul ? Rs 3, 000 ? 5, 000 per sq ft CBD Belapur ? Rs 3, 000 ? 5, 000 per sq ft Kharghar ? Rs 2, 000 ? 4, 000 per sq ft Kalamboli ? Rs 1, 400 ? 2, 200 per sq ft Panvel ? Rs 1, 800 ? 2, 700 per sq ft
Prices in Western Suburbs in April 2009: Bandra (E) ? Rs 7, 000 ? 11, 000 per sq ft Bandra (W) ? Rs 16, 000 ? 28, 000 per sq ft Khar (E) ? Rs 7, 000 ? 11, 000 per sq ft Khar (W) ? Rs 13, 000 ? 18, 000 per sq ft Santacruz (E) ? Rs 9, 000 ? 12, 000 per sq ft Santacruz (W) ? Rs 12, 500 ? 18, 000 per sq ft Vile Parle (E) ? Rs 7, 500 ? 11, 500 per sq ft Vile Parle (W) ? Rs 10, 000 ? 17, 000 per sq ft Andheri (E) ? Rs 6, 500 ? 9, 500 per sq ft Andheri (W) ? Rs 6, 500 ? 14, 000 per sq ft Jogeshwari ? Rs 5, 000 ? 8, 000 per sq ft Goregaon (E) ? Rs 4, 500 ? 7, 000 per sq ft Goregaon (W) ? Rs 4, 800 ? 7, 000 per sq ft Malad (E) ? Rs 4, 500 ? 7, 500 per sq ft Malad (W) ? Rs 4, 000 ? 6, 500 per sq ft Kandivli (E) ? Rs 4, 500 ? 7, 500 per sq ft Kandivli (W) ? Rs 4, 500 ? 6, 500 per sq ft Borivli (E) ? Rs 4, 500 ? 6, 500 per sq ft Borivli (W) ? Rs 4, 000 ? 6, 500 per sq ft Mira Road (E) ? Rs 1, 800 ? 2, 500 per sq ft Naigaon (E) ? Rs 1, 200 ? 1, 800 per sq ft Vasai (E) ? Rs 1, 100 ? 1, 800 per sq ft Vasai (W) ? Rs 1, 000 ? 1, 800 per sq ft Virar ? Rs 1, 100 ? 2, 000 per sq ft
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