Is Property in Delhi a Hot Investment Right Now?

In 2015, the Indian real estate market faced a lot of uncertainty and fluctuations in price. Delhi, one of the biggest realty markets in the country, faced a similar situation. There were factors like unsold inventory, price hikes, and increase in cost of debt that led to a stagnation of sorts. To counter this, many builders have slashed the rates of apartments to a great level. So, if you are planning to buy a property in Delhi, now would be the perfect time.

The Current Situation

Real estate industry in India has seen a continuous price appreciation in the last few years. Prices of properties have increased substantially in the recent years. This has been the case with Delhi’s real estate market as well. But compared to the rest of the country, property prices in Delhi have fallen in the previous months. Here are the reasons for fall in property rates in Delhi.

Reason of Falling Property Prices

The combination of high inflation, high interest rates and low economic growth are the primary reasons behind the fall of property prices in Delhi, but there are other factors at play as well. Builders are saddled with a great level of debt, due to a large number of unsold inventory, which forced them to slash prices of properties.

According to market reports, you can buy a 2 BHK flat in MayurVihar and Dwarka at a price starting at INR 65 lakhs. The same type of apartment is available in the NCR regions at a lower price, depending on the stage of construction and the location of the property.

In Gurgaon, property prices have seen a rise of only 2 per cent. Moreover, the city administration of Gurgaon has kept the circle rates unchanged for the year 2015. Normally, the circle rates of Gurgaon see a rise of 10 per cent to 15 per cent. While prices for property in Noida and Greater Noida faced a fall of 2 % and 3 % respectively, Bhiwadi and Sohna saw a price rise of 2 % and 4 %.

The large number of secondary-sale apartments in Delhi NCR region also play an important part in determining the prices in the region. There are plenty of eager sellers who want to offload their investment and venture into other growing areas of investment. For buyers, this means a great bargain can be made if they choose to invest in this property, and the risk is also minimised since there properties are fully constructed.

Conclusion

If you’re considering buying a property in Delhi NCR, it could be the right time, since, in the near future, property prices in Delhi and NCR may not remain the same. As the Union Civil Aviation Ministry has approved a new airport in Jewar, property prices may soon witness an appropriate rise. The new airport would be located along the Yamuna Expressway, affecting the prices in a lot of localities. So, investment in housing properties in Delhi NCR now before the property prices rise again. Don’t wait for the best time to invest in properties in Delhi NCR, and make the most of the present. Check out commonfloor.com, a real estate portal with properties listed across different types and price range.
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