Rentals rise in ar­eas near Metro sta­tions RENTAL IN­CREASE

Dwarka Sec­tor 10 reg­is­ters a 7% hike; Gur­gaon’s Sec­tor 71 sees 13% in­crease

HT Estates - - FRONT PAGE - HT Es­tates Cor­re­spon­dent

In Dwarka, sec­tors 10 and 11 each reg­is­tered a 7% rise in rentals year on year. Apart from prox­im­ity to Metro sta­tions, th­ese sec­tors owe their rental space growth to a pro­posed fi­nan­cial hub in the vicin­ity and af­ford­abil­ity, says a re­port by 99acres ti­tled In­site. The quar­terly re­port cap­tures the cap­i­tal and rental price trends of the res­i­den­tial realty mar­ket across seven ma­jor cities of In­dia.

The inau­gu­ra­tion of the el­e­vated Metro route be­tween Ja­hangir­puri and Badli played a piv­otal role in im­prov­ing rental sen­ti­ments in Ro­hini. Rentals there wit­nessed a surge of 5% year-on-year.

Builder floor rent in west and north Delhi and Dwarka fell by an av­er­age of 3% in Jan­uaryMarch 2016 as against the same quar­ter last year. South Delhi Ro­hini Dwarka South Delhi North Delhi Ghazi­abad Gur­gaon wit­nessed rental rates of builder floors suc­cumb­ing to pres­sure cre­ated by the pop­u­lar­ity of so­ci­ety apart­ments, which of­fer bet­ter ameni­ties and a se­cure en­vi­ron­ment.

Rentals in lo­cal­i­ties such as De­fence Colony, Saket and Greater Kailash I and II, Green Park and Malviya Na­gar rose by 4 to 5% in builder floors yearon year.

Rentals in Noida re­mained pas­sive, reg­is­ter­ing a de­cline of 3% be­tween Jan­uary and March. The high­est gainer was Sec­tor 78, Noida.

Al­though rates of builder floors in Noida plateaued yearon-year, the rental mar­kets in sec­tors 20 and 31 per­formed well.

In Ghazi­abad, two sub-lo­cal­i­ties of Indi­ra­pu­ram – Ab­hay Khand and Ahinsa Khand I – recorded growth in yearly rentals, by a mar­gin of 8% and 7%, re­spec­tively.

In Gur­gaon, Sec­tor 71 took a healthy rental leap by 13% due to prox­im­ity to Gur­gaon Metro and of­fice com­plexes.

Rentals in Golf Course Road and Golf Course Ex­ten­sion Road surged by 4 to 6% year-on-year. The prom­ise of im­proved con­nec­tiv­ity via the rapid metro net­work has lifted sen­ti­ments and de­mand in th­ese pock­ets.

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