Monthly Real Estate Monitor Delhi NCR June 2015

by JLL India

OFFICE

Demand momentum remains healthy as fresh expansion-driven space requirements are active in the office markets.

Major transactions:

NTT on Golf Course Extension Road;

Zomato and American Express, both on Golf Course Road;

all in Gurgaon

Key Precincts	Rental Value (INR per sq ft per month)	Capital Value (INR per sq ft)
Barakhamba Road	170–400	28,000–35,000
Jasola	110–170	17,000–21,000
DLF Cybercity	95–100	NA
MG Road	115–140	17,000–19,000
Golf Course Road	90–110	12,500–15,000

RETAIL

Demand remained focused on prominent, well-performing malls while retailers were also looking at select, under-construction malls.

Major transactions:

GAP, Charles & Keith and Mirus Art Gallery, all in Prime South

Raymond and Calvin Klein in Prime Others

Key Precincts	Rental Value (INR per sq ft per month)	Capital Value (INR per sq ft)
South Delhi	180–330	24,000–32,000
West and North Delhi	140–230	15,000–23,000
Gurgaon–MG Road	140–270	17,500–23,000
Rest of Gurgaon	60–100	8,000–14,000
Noida	130–220	14,000–25,000
Ghaziabad	90–150	10,500–16,000

RESIDENTIAL

Residential markets continued to remain tepid in terms of demand volumes.

Unsold inventories were taking longer to sell

while secondary market transactions were also slow,

resulting in price pressure in both primary and secondary

segments New Launches:

Melia First Citizen and CHD Resortico - both in Sohna

Key Precincts	Rental Value (INR per month for a 1,000 sq ft 2BHK apartment)	Capital Value (INR per sq ft)
Golf Course Road	27,000–32,000	13,000–19,000
Sohna Road	17,000–20,000	5,800–7,500
Golf Course Extension Road	19,000–22,000	8,500–11,000
Dwarka Expressway	NA	5,500–7,500
Noida–Greater Noida Expressway	13,000–15,000	4,300–6,500
Noida City	12,000–14,500	4,700–6,000
Indirapuram	11,000–12,000	4,500–5,300

Policy/ Infrastructure..!

Haryana Government approved extension of Faridabad

Metro to Ballabhgarh

Urban Development Ministry approved the Land Pooling

Policy for Delhi with a few amendments

INR 1.75 billion allocated for road repairs and resurfacing in Noida by the Authority

  

About JLL India..!

JLL is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 6800, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.

The firm was named the Best Property Consultancy in India (5 Star Winner) at the International Property Awards – Asia Pacific for 2012-13. For further information, please visit www.joneslanglasalle.co.in

For more information about research, contact

Ashutosh Limaye

Head, Research and REIS +91 98211 07054

ashutosh.limaye@ap.jll.com

 Sujash Bera

Assistant Manager,

 Research +91 033 3343 6125

 sujash.bera@ap.jll.com

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