South Delhi mar­ket un­der pres­sure

Prices in Vas­ant Vi­har, West End cor­rect by 25% to 30%

HT Estates - - FRONT PAGE - Van­dana Ram­nani

Prices of builder apart­ments in tony ar­eas of Vas­ant Vi­har, West End, etc have dropped by over 25% since the an­nounce­ment of the farm­house pol­icy, say ex­perts.

The slow­down has also brought down real es­tate prices by 25%. Ra­jiv Mishra of Money Care Homes Pvt Ltd says the price of an in­de­pen­dent house avail­able in Vas­ant Vi­har has come down to ` 22 crore from ` 30 crore. Manuj Oberoi of Big Deal As­so­ci­ates says that buy­ers are now in­vest­ing in the green belt ar­eas in­stead of the posh south Delhi lo­cal­i­ties be­cause of lower cir­cle rates and high re­turns.

Last year, if a prop­erty was com­mand­ing a price of ` 12 crore, to­day it costs ` 8crore. Th­ese are apart­ments of 2,000 to 3,000 sq ft on plots of 400-600 yards. A farm­house prom­ises big­ger units and a bet­ter life­style. While a builder floor in Delhi costs any­thing be­tween ` 5 crore and ` 30 crore, a oneacre farm­house will cost any­thing be­tween ` 10 crore and ` 50 crore per acre.

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