NCR housing market subdued in H1: Report
Prime areas witnessed no new launches
Sep 14, 2013
Source : The Hindu


DELHI: Residential markets across the National Capital Region (NCR) were subdued in the first half of 2013, a report by global commercial real estate services firm CBRE said.

The report on the residential sector, ‘India Residential Market View H1 2013’, said Delhi witnessed stagnancy, concentrated in both the mid-end/high-end as well as premium housing projects.

Buyer interest remained largely focused on cost-effective suburban markets, with prime areas witnessing no new launches during the first half of 2013.

Capital values across most micro-markets of Delhi witnessed a decline owing to restrained demand levels, besides a cautious buyer sentiment. Developers delayed the launch of new projects, as they focussed on clearing existing vacancy levels, the report said.

While the prevalent market sentiment was one of caution, marginal price appreciation was seen in specific projects in Gurgaon on account of their relative affordability, developer profile and location.

Anshuman Magazine, CMD, CBRE, South Asia, said, “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. Though the market is expected to witness developer focus on clearing existing inventory levels, launches by prominent developers are expected during the second half of the year – primarily in Gurgaon. The Reserve Bank’s latest ruling on disbursement of loans on special schemes, however, will further impact the residential market here.”

Developer focus remained largely on luxury housing, attracted by the higher returns offered by this niche segment, particularly in a few central and peripheral locations of the city, the report added.


Latest Realty News

Land buying can be a tricky affair
Sep 14, 2013
DELHI: Buying a piece of land and building their first home is the biggest dream harboured by many Indians. So, when Prabhat told his mother that he was buying a plot of land, she was proud of him, something she did not feel when he had invested in a flat.
IL&FS Engineering wins Rs 244.46-crore housing project in Haryana
Sep 14, 2013
DELHI: Infrastructure company IL&FS Engineering and Construction (IL&FS Engineering Services) today said it has received a contract for construction of a Rs 244 crore housing project in Haryana.
CCI to probe mkt abuse charges against JP Associates
Sep 13, 2013
DELHI: Fair trade regulator CCI has ordered investigation against Jaiprakash AssociatesBSE 3.39 % for alleged abuse of dominant market position in sale of flat in its housing projects.
NSEL: ED submits report to Finance Ministry
Sep 13, 2013
DELHI: The Enforcement Directorate in its status report submitted to the Finance Ministry today on alleged financial law violations by National Spot Exchange indicated that the crisis-ridden bourse may have violated money laundering laws and a few foreign exchange procedures.
2,000 flats will be up for grabs in South Delhi soon
Sep 12, 2013
DELHI: Planning to own a flat in Delhi? You have reason to cheer. The Government-owned National Buildings Construction Corporation (NBCC) plans to sell around 2,000 flats in South Delhi to the general public.
Competition watchdog to probe DDA
Sep 12, 2013
DELHI: The Competition Commission of India (CCI) will soon probe if Delhi Development Authority (DDA) has been abusing its dominant position in the residential market.
Parsvnath to build commercial project near Connaught Place in New Delhi at Rs 300 crore
Sep 12, 2013
DELHI: Realty firm Parsvnath Developers has dropped its plan to sell a prime land in Connaught Place and will now develop a commercial building on the plot at a cost of around Rs 70 crore to achieve better sales realisation and brand value.
CCI rules out abuse of market dominance by 4 realty firms
Sep 12, 2013
DELHI: Fair trade regulator CCI has dismissed the charges of abuse of dominant position against four real estate firms in the market for residential flats.
Freehold rights in 45 resettlement Delhi colonies
Sep 11, 2013
DELHI: The Delhi Government will grant freehold rights on September 10 to residents of 45 resettlement colonies which were developed almost 50 years ago.
South Delhi's property prices down by 20-35%, Defence Colony and Vasant Vihar worst hit
Sep 11, 2013
DELHI: Prices of homes in upscale South Delhi have dropped by 20 per cent-35 per cent over the last one year, with developers and cash-strapped investors offering big discounts to dispose off their assets in a slowing economy.

Latest Realty News Of State

Realty Talk's