Delhi NCR Monthly Real Estate Monitor May 2017
From JLL India
DATA ANALYSIS FOR THE MONTH OF APRIL 2017
Office
Demand remained healthy but is starting to get
constrained due to declining vacancy in quality projects; older projects
undergoing rent correction.
Major
transactions:
Lufthansa,
Azure Power in Aerocity-SBD,
New
Completions:
Trustone City SEZ Phase 1 in Noida and Digital Greens in
Gurgaon
|
Key Precincts
|
Rental Value (INR per sq ft
per month)
|
Capital Value(INR per sq ft)
|
|
Barakhamba Road
|
140–340
|
28,000–35,000
|
|
Jasola
|
100-110
|
15,000–18,000
|
|
DLF Cybercity
|
105–120
|
NA
|
|
MG Road
|
90-120
|
14,5000–17,500
|
|
Golf Course Road
|
75-150
|
12,500–17,000
|
Retail
Leasing
activity continued to be constrained by low vacancy in superior malls as most
well-known brands are looking for available space in these select malls only
Major
transactions:
Reliance
Trends in Greater Noida
New Completions:
No completions during the month
|
Key Precincts
|
Rental Value (INR per sqft
per month)
|
Capital Value(INR per sq ft)
|
|
South Delhi
|
200–400
|
26,000–40,000
|
|
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
Sales
continued to stagnate and launches are low as developers are aiming to complete
pending projects or ensure compliances with the onset of RERA. Prices remain
under pressure.
New Launches:
Cerise Suites in Gurgaon
|
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
|
13,000–15,000
|
|
Sohna Road
|
17,000–20,000
|
5,800–7,200
|
|
Golf Course Extension Road
|
19,000–22,000
|
8,000–10,000
|
|
Dwarka Expressway
|
NA
|
5,000–7,500
|
|
Noida–Greater Noida
Expressway
|
13,000–15,000
|
4,300–6,500
|
|
Noida City
|
12,000–14,500
|
4,600–6,000
|
|
Indirapuram
|
11,000–12,000
|
4,500–5,300
|
Policy/
Infrastructure
Revival
of JewarAirport as well as Greater Noida-Jewarairport metro proposals by UP
Govtand local bodies
HUDA to start work on a road
connecting SPR with NH-8, bypassing KherkiDaula, in a few weeks and expected to
be completed over the next 2-3 months.
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