Posts Tagged ‘ncr realty prices’

Home prices dip on tighter liquidity

Metro home prices take a dip on tighter liquidity

The vision of owning a house is slowly getting clearer for buyers as residential real estate prices are beginning to see the promised correction on the back of hardening interest rates and poor transaction volumes.

Real estate services firm Jones Lang LaSalle India (JLL) says newly-launched residential projects are recording an average 15% lower prices, especially in Delhi and Mumbai ? markets witnessing oversupply in many pockets.

The higher the prices, more the correction, with Gurgaon, Greater Noida, Navi Mumbai and Bangalore as prime examples, where prices jumped 30-35% last year.

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NCR Realty Prices Affordable?

Experts feel realty could correct soon

If you are looking for a decent two BHK flat in the national capital, you have very dim chances of getting one for less than Rs 1 crore.

This is what your property broker would most likely tell you.

"I was looking for two bedroom set in Delhi and Noida for the past six months. But even with a budget of Rs 60 lakh I could not buy a flat for myself. All I was offered was the remote areas in Greater Noida, without proper infrastructure or connectivity," Nitin Agarwal, a senior executive with an auto company said.

In the last six months, home prices in all major metros have gone up very sharply putting it out of reach of the common man.