Posts Tagged ‘gurgaon real estate trend’

NCR’s Commercial Rental on Fire

Commercial rentals across Delhi-NCR region seen an appreciation in Q3-10: 99acres.com

A look at the commercial rentals of key localities of Delhi, show that there has been a considerable increase in rentals across all localities

Commercial rental prices of key hubs of Delhi, Noida, Gurgaon have increased when we compare rental values of Q3-10(July-Aug-Sept) over Q3-09: says a study by 99acres.com, India’s no1 real estate portal.

Commenting on the same Vineet Singh, Business head, 99acres.com said “As far as the commercial rental trends are concerned, I see rentals increasing over a period of time. Renting of commercial space is preferred vis a vis buying, and lack of new supply coming in immediately in the Delhi- NCR region will result in rental values continuing to escalate.”

A look at the commercial rentals of key localities of Delhi, show that there has been a considerable increase in rentals across all localities. Connaught Place which is the central business district of the city saw rentals escalate by 100% from 75 PSQF(per square feet) in Q3-09 to 150 PSQF in Q3-10 and Greater Kailash which is one of the prime localities of South Delhi has seen rental values upswing by 18% over the same time period. As noted from the below table, Jasola, Nehru Place and Okhla which are key commercial hubs of the city have seen  uptrend in rentals within the range of 40% and 45% over a period of one year.

Also, commercial rentals in the satellite towns of Noida and Gurgaon saw increased rentals over a period of one year. Sector 18 in Noida saw rentals move up from 90 PSQF in Q3-09 to 110 PSQF in Q3-10 and Sector 2 and Sector 63 saw massive movement, with rentals moving up by 50% and 66% over the same time period.
 
 Udyog Vihar and Sushant Lok in Gurgaon saw commercial rental values move up by 20% and 18% respectively in Q3-10 over Q3-09 while MG Road and Golf course road saw rentals upswing by 11% and 6% respectively over the same time period

Thus, looking at the rental trends of key commercial hubs in the Delhi-NCR region we see that the commercial market has bounced back and the real estate scenario will remain upbeat in the coming months.

Source:

http://www.indiainfoline.com/Markets/News/Commercial-rentals-acrossDelhi-NCR-region-seen-an-appreciation-in-Q3-10-99acres.com/5001077620