Friday, August 20, 2010

12% hike in Delhi and NCR housing rentals

During the period April-June in this current year Delhi and NCR witnessed a jump in housing rentals by almost 12 per cent as compared to last year during the same period. According to the report which surveyed housing rentals of 3 BHK flats the Saket area in south Delhi recorded the highest appreciation by registering an increase of 31%. It was closely followed by other areas like South Extension (24%), Safdarjung (22%) and Malviya Nagar (21%).

According to the Indian real estate report currently the most affordable areas of Delhi for the mid-segment population are Vasant Kunj and Dwarka. Even in East and West Delhi housing rentals have increased by 12% particularly in key areas like Patparganj, Vasundhara Enclave and Mayur Vihar.

In west Delhi there has been a 13% and 8% increase respectively in areas such as Vikaspuri and Janakpuri. The situation is quite the same in central and north Delhi. There is a rise of 8% in rentals in Connaught Place and in Rohini and Pitampura it is 37% and 35% respectively. In the near future rentals in Delhi will further escalate which will become an annual trend as supply has remained more or less stagnant.

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