Property price are higher in Delhi – NCR
Property prices in East Delhi, or elsewhere in the National Capital Region (NCR), are hovering around Rs 17,000-24,000 per sq ft.
The highest bid for a 5BHK apartment in the CWG village reflects the present scenario of the cost of the real estate properties in NCR.
According to the market surveyors, the cost of the CWG apartment is not surprising. For a Delhi property of this scale, the price range is pretty normal.
The average cost of various luxurious projects in Delhi was around Rs 17,000 a sq ft. in present market a 1,200 sq ft area flat in a society is costing about Rs 2 crore.
In Gurgaon itself, properties like DLF’s Belaire, or Emaar-MGF’s Palm Springs have seen prices go up from Rs 6,000 per sq ft to Rs 14,000 per sq ft.
Prices have gone up by 10 times in the last decade in East Delhi. The rentals in the area are between Rs 40,000 and 50,000 per month in good locations. This is majorly due to the development in the area that picked up pace from 2004 onwards and CWG also had a role to play, said the experts.
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Source: Business Standard
