Housing prices in Delhi fall by up to 12% in H1 of 2013: CBRE

NEW DELHI: Housing prices declined by up to 12 per cent in the national capital in the first six months of 2013 compared with that in the second half of last year due to lower demand and high prevailing rate, according property consultant CBRE.

“Subdued demand levels led to a correction in both capital and rental values across most micro-markets of Delhi. Capital values in the premium/luxury as well as in the highend/mid-end segments witnessed a decline of about 9-12 per cent during the review period,” CBRE said in a report released today on residential markets. The residential markets across NCR observed subdued activity level in the first half of 2013 as compared to the previous review period, it said.

Real estate developers delayed launch of new inventories and maintained their focus on clearing the existing vacancy levels.

“The NCR’s residential sector has witnessed lower levels of activity primarily due to inflated prices. Going forward this will continue to dampen demand levels, particularly in the premium markets of Delhi and Gurgaon,” CBRE South Asia Pvt Ltd Chairman and Managing Director Anshuman Magazine said. In terms of leased assets, locations such as South Extension and Greater Kailash I and II witnessed a rental decline of about 12-13 per cent during the review period. Micro markets such as Panchsheel Park, Westend and Vasant Vihar observed a rental decline of about 9-11 per cent during the first half of 2013. While the prevalent market sentiment was one of caution, CBRE said that marginal price appreciation witnessed in specific projects in Gurgaon on account of their relative affordability, developer profile and location.

“There was a marginal price appreciation across various micro-markets of Noida, with projects located along the Noida- Greater Noida Expressway witnessing a marginal appreciation of 5-6 per cent, with certain projects located in emerging micro-markets such as Noida Extension witnessing a similar increment during the review period,” the report said.

Source: Inidatimes.com (Property), September 2013
For any informations on Saviour Builders in NoidaEmail us or SMS:SAVIOUR at 53030.



About Saviour Builders

Saviour Builders Pvt. Ltd. is one of the leading real estate developers in Delhi NCR. The Saviour Group is the tantamount to deliver contemporary quality amid excellence and diverse innovation. It has emerged as one of the prominent entities in the real estate sector of India and is into residential, commercial and township projects in and around Delhi NCR. The Group devotes its complete dedication to reach higher and build better. With its immense hard work and loyalty, Saviour has accomplished the dream of delivering various tremendous infrastructures round the city. We intend to provide you with affordable houses in the Delhi NCR region. Some of its significant projects like Saviour Greenisle, Saviour Park, Saviour Street, Gaur City -1, Gaur City -2 and many more have created a new benchmark within the trade. Today, we have our presence at Noida, Noida Extension, Greater Noida (West) and Ghaziabad. We, at Saviour, are building homes based on trust and you are invited to build your future with us. We help you live your dream of living in style.

Posted on October 1, 2013, in Real Estate and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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