Property Prices Drop in South and Central Delhi

Noida and Gurgaon are the two major property markets of Delhi NCR that have been witnessing tremendous growth over the past decades. But the real estate market of Delhi has not been performing very good. Zee News reported real estate consultant JLL India’s report that showed that the property prices in some of the popular residential colonies of the national capital have seen a downward trend. Property Prices Drop in South and Central DelhiThe dip has been up to 20%. This trend was shown in the prime localities like Jor Bagh, Vasant Vihar, Defence Colony and other parts of South and Central Delhi. The property prices South delhi and Central Delhi locations has fallen down by 15-20 per cent in 2013.

On the other hand, areas like Shantiniketan, Prithviraj, West End and Aurangzeb road saw a correction in prices. As opposed to Delhi trends, Gurgaon and Noida have seen an increase of almost the same rate. And this trend is expected to remain stable for a long time to come. This is a good time for the end users who want to buy a home in posh location like South Delhi at an affordable price. As the supply is exceeding demand in Gurgaon, the buyers might also get a good deal of discount from the developers.