By
JLL India
Residential.!
The demand for residential units continued to
remain stable over the month. Major launches during February included Florence
Estate by Krrish Group in Gurgaon, Sunworld Vandita by Sunworld Infrastructure
in Noida andWillow 162 by Agarwal Associates in Ghaziabad.
|
Residential
|
Rents
|
Capital Value
|
|
Key Precincts
|
RS. per month for a 1000 sq ft 2BHK apartment
|
Rs. per sq ft
|
|
Golf
Course Road
|
22,000
to 32,000
|
12,000
to 16,000
|
|
Sohna
Road
|
15,000
to 20,000
|
5,800
to 7,500
|
|
Golf
Course Extension Road
|
16,000
to 22,000
|
7,500
to 9,500
|
|
NH
8
|
14,000
to 19,000
|
3,900
to 5,000
|
|
Dwarka
Expressway
|
NA
|
5,000
to 6,000
|
|
Noida-
Greater Noida Expressway
|
12,000
to 14,000
|
4,000
to 5,500
|
|
Noida
City
|
12,000
to 14,500
|
4,500
to 6,000
|
|
Indirapuram
|
10,000
to 12,000
|
4,000
to 4,800
|
|
NH
24
|
||
Rents and capital values remained stable across all
submarkets in the city.
Office..!
Delhi continued to observe stable demand in
February, 2013 with increase in new enquires.
Tenants were cautious about their real estate expenses and preferred suburban
locations on account of good quality space and competitive rentals. The
continued healthy occupier demand and absence of new completions further
decreased the vacancy in the Delhi city.
|
Office
|
Rents
|
Capital Value
|
|
Key Precincts
|
RS. per sq ft per month
|
RS. per sq ft
|
|
Barakhamba
Road
|
170
to 400
|
28,000
to 35,000
|
|
Jasola
|
110
to 170
|
16,000
to 21,000
|
|
DLF
Cybercity
|
67
to 72
|
NA
|
|
MG
Road
|
114
to 130
|
16,000
to 18,500
|
|
Golf
Course Road
|
85
to 95
|
12,000
to 15,000
|
|
Sohna
Road
|
45
to 55
|
6,500
to 8,000
|
Some of the major transactions in the month
included Tetra Pak India leasing space in Gurgaon, and Telenor and Marsh both
renting space in the CBD. Rents and capital values remained stable across all
submarkets, except the CBD where it increased marginally.
Retail..!
Over the month, the demand remained stable in
Delhi. High streets and select quality malls continued to be the preferred
choice of retailers. In addition, upcoming malls observed good pre-commitments
because of less vacancy in existing quality malls. Rents and capital values
both remained stable in all submarkets.
|
Retail
|
Rents
|
Capital Value
|
|
Key Precincts
|
RS. per sq ft per month
|
RS. per sq ft
|
|
South
Delhi
|
180
to 280
|
21,000
to 30,000
|
|
West
and North Delhi
|
140
to 220
|
14,000
to 23,000
|
|
Gurgaon-MG
Road
|
140
to 270
|
17,000
to 22,000
|
|
Rest
of Gurgaon
|
60
to 100
|
8,000
to 14,000
|
|
Noida
|
130
to 220
|
14,000
to 25,000
|
|
Ghaziabad
|
90
to 150
|
10,500
to 16,000
|
Some of the notable transactions in February
included Reliance Mart leasing space in Ghaziabad, Geox taking space inWest
Delhi and Manyavar renting space in Faridabad. Rents remained stable in all the
submarkets. However, capital values witnessed marginal increase in select
precincts of the city.
INFRASTRUCTURE ONGOING ..!
According to a recent directive by the Department
of Town and Country Planning (DTCP), private developers will now have to inform
flat owners or investors about any change in the layout plan of the projects in
Gurgaon. The fresh directive is sure to bring transparency as the changes,
especially those linked to green belt and open spaces, will not be possible
unless the developers have secured concurrence of the flat owners and
investors.
** As the city copes with growing housing shortage,
Delhi's planning body may allow houses that are built for the poor and middle
class to go vertical by tripling the floor area ratio (FAR) from 200 to 600.
The Union Urban Development Ministry (UUDM) has asked the Delhi Development
Authority (DDA) to increase the FAR and include the revised figure in the soon
to be updated Delhi Master Plan 2021.
For more information about
JLL research
Ashutosh Limaye
Head, Research and REIS
ashutosh.limaye@ap.jll.com
+91 98211 07054
Trivita Roy
Assistant Vice President,
Research trivita.roy@ap.jll.com
+91 40 4040 9100
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