NEW DELHI: Real estate prices in some areas of the NCR glided high by 20 to 27% in the first quarter of the current financial year as compared to the subsequent period of 2010-1. “Property prices for Delhi have seen boom if we compare per square feet prices of Q1-11 over Q1-10. Certain key areas like Sarita Vihar and Rohini have seen 27% and 20% growth respectivly in prices compared to prices over Q1-10”.
According to a report, the upward price sentiment would continue as the prices on average are hiking up by 15%. The South Delhi locality Sarita Vihar’s PSF prices rise by 27.60% at INR 8,110 as compared to Inr6,356 in the period of 2010-11, while north Delhi-based Rohini’s PSF prices increased by 25%. This is followed by Patparganj at a PSF price appreciation of 21.68%. Other localities like southwest Delhi-based Dwarka sub city’s PSF price also increased by 28 % in sector-11 and sector-2. Realty prices in suburban NCR like Noida and Gurgaon also increased because of metro rail services came into operation. Prices per square feet in sector 110 and sector 93 of Noida also moved up by 16 % and 11 % respectively, as compared to prices in the corresponding period of last financial year. “Gurgaon witnessed an upgoing trend in property prices. Properties located on the Sohna Road and DLF City phase IV have seen the highest growth in prices by 46 % and 42 %, respectively, in Q1-11 over Q1-10”.