Rental price and sale price of properties in the NCR remain stable in FY 14 and FY 15
As per the reports of the Leading real estate portal , the average housing prices remained stable in the national capital region (NCR) during January- March period compared with the previous quarter. This report has done a thorough analysis of the buying and rental price trends in the residential real estate sector across 7 major cities of India. This popular property portal also mentioned that the prices per square foot in Delhi-NCR region have remained unchanged in Q1-14 as compared to Q4-13. Also the capital prices remain pretty much the same in the annual comparison of Q1-14 with Q1-13.
99acres.com’s Business Head Vineet Singh mentioned that the real estate market across India is witnessing stability and Delhi-NCR region is no exception to it. Slowing GDP growth, higher costs of borrowing and political uncertainty were the major reasons for a decrease in demand in the real estate segment. The average rental for 3-bedroom flats also remained stable during the first quarter of 2014 calendar year against the year-ago period.
However Singh is hopeful that now since the elections are over and the new government which claims to be real estate friendly has sworn in, the developers should start launching their new projects. He is hoping that Gurgaon and Noida in the NCR region which were witnessing lack of demand in the property market will revive in the coming six months.
Source- The Financial Express
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