Rentals move up by 15% in Delhi NCR

Lo­cal­i­ties in South Delhi such as Kalkaji, Saket, De­fence Colony and Saf­dar­jung see res­i­den­tial rentals move up by over 20% in a year

HT Estates - - Front Page - HT Es­tates Cor­re­spon­dent

Rentals in the Delhi and NCR re­gion have wit­nessed a 15% ap­pre­ci­a­tion if one were to take into ac­count rentals of a 3BHK res­i­den­tial apart­ment in the sec­ond quar­ter of 2012 (Apr- May- June 2012) and com­pare them with rental val­ues in the same quar­ter last year, says a new study by, a real es­tate por­tal.

Res­i­den­tial ar­eas such as De­fence Colony and Saket wit­nessed the max­i­mum ap­preci- ation. Both these ar­eas have wit­nessed 29% and 28% rise in rentals in the sec­ond quar­ter this year over the sec­ond quar­ter last year. Mayur Vi­har-1 and IP Ex­ten­sion in East Delhi saw rentals ap­pre­ci­ate by 23% and 12% re­spec­tively, while Vikaspuri and Janakpuri in West Delhi saw rental val­ues mov­ing up by 18% and 13% re­spec­tively in the sec­ond quar­ter this year over last year.

Ac­cord­ing to Vi­neet Singh, busi­ness head,, “Res­i­den­tial rentals in Delhi/NCR have seen about a 10-15% jump in the past one year. With more peo­ple mov­ing into the city for jobs, the res­i­den­tial hotspots have been in high de­mand for rentals, di­rectly re­sult­ing in an in­crease over the last 12 months, es­pe­cially in the NCR re­gion where there is lot of supply in this mar­ket. Rentals in Noida will in­crease at a rate of 10-15% yearly. How­ever, Gurgaon will see about 15% to 25% in­crease in the com­ing months. This trend will con­tinue in the com­ing years as well be­cause there are very few projects at the com­ple­tion stage in Gurgaon, while in Noida there is huge in­ven­tory in the pipe­line to be de­liv­ered over the next few years.”

The NCR re­gion has seen an ap­pre­ci­a­tion in rental val­ues across lo­cal­i­ties. Key lo­cal­i­ties of Noida like Sec­tor 50, Sec­tor 93, and Sec­tor 82 have seen rentals es­ca­lat­ing in the range of 12% to 16% over a pe­riod of one year. Lo­cal­i­ties in the Ghazi­abad re­gion have also seen rental value ap­pre­ci­a­tion. Both Va­sund­hara and In­dra­pu­ram saw ap­prox­i­mately 12% in­crease in rental val­ues dur­ing the same time pe­riod.

Prime ar­eas of Gurgaon like Palam Vi­har, Golf Course Ex­ten­sion Road, MG Road and Sohna Road, have seen 28%, 24%, 22% and 19% rise in rentals in the sec­ond quar­ter this year com­pared to last year. Both Sushant Lok and Sec­tor 56 Gurgaon saw price ap­pre­ci­a­tion of 15% re­spec­tively dur­ing the same pe­riod.

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