Poteri (GST) Road in Chennai Recorded the largest year on year decline of
8 % in 2013
In
the latest report from international property consultants Cushman &
Wakefield (C & W), Most micro markets in India have seen a rise in rental
values ranging from 2% to 50% mostly in the secondary or in established new
projects that are seeing next phases of development.
This
was on account of existent demand from end users who are looking for better
security for their investments thereby choosing to either buy in already
completed or from new developments that have seen good track record.
Despite
an overall slowdown in the economic scenario due to high inflation and reduced
sentiments, purchasers with financial security have viewed this year as a good
time to enter the market as prices had been stable for a significant period
between 2012 – 13.
The
city of Bengaluru, Chennai & Hyderabad recorded appreciation in their
capital values almost universally with the exception of a few markets.
Central
Bengaluru (mid end properties) comprising of Lavelle Road, Off Palace Road, Off
Cunningham Road, Ulsoor Road, Richmond Road, Race and Course Road recorded the
highest appreciation of 50 % followed by Off Central district of Bengaluru
(Vasanth Nagar, Richmond Town, Indiranagar) recorded an appreciation of 36% in
the Mid end category.
Chennai
- Velechery
Velechery
in Chennai recorded an increment of 27% in capital values over last year.
Most
of the locations which saw significant rise in capital values are established
residential markets that have seem limited launches of new properties even
while demand in these locations both from end users as well as investors have
remained strong beating the otherwise low ebbed sentiments.
High
end segment of most Hyderabad’s market also recorded an increase in capital
values in the range of 20% - 22%.
High
end segment in NCR markets of South West, South East and Luxury Category in
Gurgaon all saw a decline in capital values to the tune of 5% - 7% over the
last year mostly on account of achieving already high values which in the
current market scenario looked unsustainable.
Poteri
(GST) Road in Chennai recorded the largest year on year decline of 8 % in 2013 on account of an
oversupply situation in this micro market.
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