Report
360 Realtors launches Top 10 Real Estate Investment Destinations report


April 25, 2019: Average property prices in several micro-markets across India continued to grow throughout last year, as upcoming special economic zones (SEZs), proposed Metro lines and other projects stimulate demand, shows a report on India’s Top 10 Real Estate Investment Destinations launched by Gurugram-headquartered property advisory firm 360 Realtors here today.
The study highlights property prices, rentals, growth trends, as well as housing options in 10 micro-markets. It points to growth in average prices in Whitefield(Bengaluru), Borivali (Mumbai), Mulund (Mumbai), Gachibowli (Telangana), and Dwarka Expressway (DXP) [Delhi – National Capital Region (NCR)] from Q1 to Q4. For example, along the DXP, the value rose from nearly Rs 6,900 per sq. ft. in Q1 to upwards of Rs 7,400 per sq. ft. in Q4. Similarly, Whitefield rates climbed from an average of about Rs 5,100 per sq. ft. in the first quarter to more than Rs 5,600 in the last.
Prices in micro-markets including Hinjewadi (Pune) and Noida Expressway (NCR) slumped earlier in the year but went up later. Average prices in Hinjewadi slipped from more than Rs 5,700 per sq. ft. in Q2 to about Rs 5,600 in Q3 followed by a jump to approximately Rs 5,800 in the closing quarter.
The only exception on the list is Porur where average property prices cooled down. On a Q-o-Q basis, there has been a correction of -2.4% in the last quarter, says the report. “This correction could be attributed to a rise in supply in the market,” it says. The area is still in demand because of relatively lower rents compared with other parts of the city.
Prices, however, are not the sole attraction of these locations. Other parameters such as infrastructure development andjob opportunities, too, have played a part in making these regions what they are, said Ankit Kansal, founder and MD, 360 Realtors.
Speaking about a resurgent real estate sector, he added, “The growth in investment is attributable to sound macroeconomic health, upbeat industry sentiments, attractive payment plans and increased transparency in the sector due to stricter formalisation.”
To download the report, visit www.360realtors.com
HIGHLIGHTS
§ Gachibowli: Phase 2 of the Metro project likely to cover the region. Average property price/sq ft*: Rs 5,682 Rental range: Rs 14,100 (1 BHK)-27,500 (3 BHK) § Whitefield (Bengaluru):Home to more than 400 IT companies. An estimated 300,000 employees commute to this locality of 125,000 residents daily. Prices up by̴10% in 3 quarters Average property price/sq ft: Rs 5,666 Rental range: Rs 10,950 (1 BHK)-24,900 (3 BHK) § Wagholi:Housing prices appreciated by 2.6% in the past 9 months Average property price/sq ft: Rs 4,693 Rental range: Rs 7,700 (1 BHK)-14,700 (3 BHK) § Thane: PM Modi announced a Rs 41,000 crore infrastructure package, including a Metro project, for it Average property price/sq ft:Rs12,375 § Porur: Has 3 SEZs; 2 more likely to come up. Property rates expected to go up by̴4-6% in12-15 months Source: India’s Top 10 Real Estate Investment Destinations report *2018 Q4 |
-
Guest Column4 weeks ago
Vertex launches its largest project, VIRAAT
-
Guest Column4 weeks ago
TARC Tripundra achieves Rs 350 cr sales
-
Report3 weeks ago
After 2018, 2019, highest number of project registrations in 2022 in U.P. RERA
-
Guest Column4 weeks ago
The Office Pass (TOP) to open a 26000 sq ft
-
project4 weeks ago
2.2 million square feet Mega Project of 4S Developers to cost more than 2500 cr
-
Guest Column3 weeks ago
SKA Orion to be completed a year before schedule, set to hike prices due to rising input prices says Director Sharma
-
New Launches2 weeks ago
NAREDCO urges Government to launch SWAMIH-2 with widened scope
-
Guest Column4 weeks ago
Commercial real estate to explode in Delhi-NCR in 2023: Rise Infraventures