According to Jones Lang LaSalle, a global property consultant, Delhi-NCR and Mumbai are witnessing a surge in housing prices which reached peak level in 2008. The firm cautioned that if there is any further increase in rates then demand would be adversely affected. Next year housing prices may possibly firm up by 10-15% across the country which will be at par with the 2008 level. Anuj Puri, the JLL India Chairman said that after the global economic crisis in 2008 housing prices in Delhi and Mumbai had fallen by about 25-30% but this year prices have increased again reaching its peak level.
When Mr. Puri was asked to comment on housing prices that would prevail in 2011, he said that there is no scope for any further price increase and if pursued then it will severely affect demand in Delhi-NCR and Mumbai.
Mr. Santosh Kumar, the JLL India Chief Executive Officer (operations) said that at present mid to high-end flats in Gurgaon are offered at a price of Rs 8000-10000 per sq ft and in Noida it is offered at 3500-5000 a sq ft. He further added that prices of apartments in central Mumbai hover from Rs 25000-30000 per sq ft and apartments in sub-urban Mumbai are marginally lower at Rs 9000-16000 per sq ft.
When Mr. Puri was asked to comment on housing prices that would prevail in 2011, he said that there is no scope for any further price increase and if pursued then it will severely affect demand in Delhi-NCR and Mumbai.
Mr. Santosh Kumar, the JLL India Chief Executive Officer (operations) said that at present mid to high-end flats in Gurgaon are offered at a price of Rs 8000-10000 per sq ft and in Noida it is offered at 3500-5000 a sq ft. He further added that prices of apartments in central Mumbai hover from Rs 25000-30000 per sq ft and apartments in sub-urban Mumbai are marginally lower at Rs 9000-16000 per sq ft.
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