Sunday, August 30, 2009

Dear friends & collegues.

I am starting this blog to share the views of those who are interested in buying the real estate in Delhi and are watching the price trend very closely.this includes the people who are willing to sell their properties in and around Delhi and NCR.
I am not a regular blogger but will do my best to make it very informative for all and at the same time would also love to have the views of all others who care to air and share their views on this particular subject.

There have been lots of ups and downs and status quoes in property prices both in residential as well as commercial .its a known story of many well established builders feeling the pinch and slowing their activities to almost dead stop. there were no takers of the available spaces and one reason being non availability of finance. Even now the actual story is very different so far as the availabilty is concerned.while general impression created by the Govt and a section of media is that the finances are available, in realty certain banks have increased the customer contribution from 10% earlier to 30% now.Even then there is lots of ifs and buts to clear a Loan proposal.Those who have experienced this personally will more agree with the view.Ofcourse certain exceptions are there to counter the view but in general the story is of no easy finances.

In Gurgaon certain pockets and areas faced a down tern of 15 to 20% in prices while some other localities in Delhi and especially South Delhi faced the down turn of similar nature but some exceptions being a Locality like VASANT KUNJ which showed no sign of any downword movement in prices of its mainly DDA flats. why so ? what were the reasons behind and why a posh locality like Greater Kailash went down by almost 15%?
The following table will show you what happened all over India

IF you have been unsure about the current state of property market, here are some definite pointers that suggest the rates are going down south.

According to the latest reports released by Knight Frank India Pvt Ltd (March 2009), property rates across metro cities have dropped. The fall in rates are especially tangible in overheated pockets, which hitherto had witnessed phenomenal rise, such as in Noida and Gurgaon in the National Capital Region; Goregaon, Borivili, Vashi and Mulund in Mumbai and Koramangala in Bangalore.


Accompanying tables show the average residential capital values and the difference in price over the last one year.

Property rates in Delhi (Rs)
LocationMarch '08
March '09
difference in %
Chanakyapuri42500
43240
1.74
Jor Bagh
40500
43200
6.67
Golf Links
40500
41560
2.62
Greater Kailash I&II
16000
13000
-18.75
Ghaziabad
2850
2863
0.46
Pockets in Gurgaon (A Grade)
6000
4731
-21.15
Defence Colony15000
15625
4.17
Noida5500
4925
-10.45
Greater Noida
2900
2150
-25.86
Rohini/Pitampura
4000
4500
12.5
East Delhi (Mayur Vihar,
Preet Vihar, IP exte)
5125
5688
10.99
Faridabad
4050
4000
-1.23
Anand Niketan
19150
19500
1.83
Friends Colony (W)
14250
15250
7.02
Green Park
13925
14500
4.13
New Friends Colony
16450
13000
-20.97
Janakpuri
5225
5575
6.70
Dwarka
5300
5000
-5.66
Vasant Kunj
7250
7813
7.77

Property rates in Mumbai (Rs)

LocationMarch '08
March '09
difference in %
South Mumbai (Grade A)50000
50000
0
South Mumbai (Grade B)
26500
26000
-1.89
Worli (Grade A)
30000
29000
-3.33
Worli (Grade B)
22500
22500
0
Bandra (W)
22500
19000
-15.56
Andheri (W)
10000
9000
-10
Goregaon to Borivili
8250
4500
-45.45
Ghatkopar (E)
7500
5500
-26.67
Thane
5350
5000
-6.54
Vashi
6000
4750
-20.83
Mulund
6400
5000
-21.875
Powai
10500
9500
-9.52
Bhandup
5750
5000
-13.04
Sion/Chembur10500
7500
-28.57
Central Mumbai
(Parel, Sewri, Byculla, etc)
14000
8750

-37.5


Property rates in Pune (Rs)

Location
March '08
March'09difference in %
Koregaon Park9000
8500
-5.56
Boat Club Road
10500
11500
9.52
Deccan
7250
7250
0
Sopan Baug/Uday Baug
4000
3500
-12.5
Kalyaninagar
6500
6750
3.85
Aundh
4750
5200
9.47
Hadaspar
4750
4500
-5.26
Kothrud
5400
4500
-16.67
Vimanagar
4000
3750
-6.25
Wanorie
3250
360010.77
Kondhwa-Undri
3500
3150
-10
Karwe Road
4250
5000
17.65

Property rates in Bangalore (Rs)

LocationMarch '08
March '09
difference in %
M.G Road
125009500
-24
Koramangala
65004950
-23.85
Indira Nagar
82505150
-37.58
Sadashiv Nagar
6750
5000
-25.93
Malleshwaram
5600
5450
-2.68
J.P Nagar
40003750
-6.25
Basavangudi
4800
5350
-6.96
Rajaji Nagar
55005000
-9.09
Banswadi
4800
3750
-21.88

Property rates in Hyderabad (Rs)

Location

March '08

March '09
difference in %
Banjara Hills
6250
5500
-12
Jubilee Hills
6000
6500
8.33
Srinagar Colony
5000
4500
-10
Begumpet
45004000
-11.11
Secunderabad
3500
3250
-7.14
Madhapur
5000
4250
-15
Gachibowli4500
3500
-22.22


Property rates in Chennai (Rs)

LocationMarch '08
March '09
difference in %
Egmore/Kilpauk5500
5250
-4.55
Boat Club
16000
16000
0
Poes Garden
14500
13750
-5.17
T Nagar
7150
7000
-2.10
RA Puram
8750
8500
-2.86
Ashok Nagar
5500
5500
0
Guindy
4500
3750
-16.67
Vadapalani
4400
3750
-14.77

Property rates in Kolkatta (Rs)

Location
March '08
March '09
difference in %
Ballgunge8500
10000
17.65
Alipore8500
8750
2.94
South of Park St
5725
5750
0.44
Behala
2800
2600
-7.14
New Town Rajarhat
3750
2850
-24
Salt Lake
4000
3725
-6.875



Please share your views and comments


thanks

ajay

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