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. The 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.
When it comes to buying a house in Delhi or NCR, this might be the best time to buy a house, this is what the real estate experts feel, keeping in mind the current market scenario in the Delhi region.
As per the market reports, there are a number of pockets in and around the Delhi region where real estate price points have fallen down by over 20 per cent year-on-year, according to the National Housing Bank’s Residex index, which tracks residential property price points spread across 26 cities in India. [Read more…]