That property rates are stagnant is no news today. Due to already available surplus supply and falling consumer sentiments, it might take a while for property market to revive especially in Delhi NCR.
However, amidst the negative graph, projects on National highway 24 have unleashed a ray of hope.
As per latest figures made public by MagicBrick’s research, among the under-construction areas in Noida/Greater Noida/Gurgaon and adjoining higways, NH24 has seen the best growth last quarter at 4% QoQ (Quarter on Quarter) which is quite substantial given that no other region is offering returns better than Fixed deposit (FD) during this otherwise disappointing period. What is surprising however is that the same region had shown a decline of 2% in previous quarter.
The growth last quarter though can be attributed to the fact that the supply is limited in Indrapuram, Vaishali region that fall near NH24.
Some of the key findings from the MagicBrick’s survey:
- NH24 grew at 4% last quarter.
- Noida extension grew at a mere 0.1% last quarter (which is satisfactory given the over supply situation).
- Noida expressway is growing at a mere 0.2% last quarter.
- DLF Golf course road has seen an upward trend of 0.3% last quarter.
- DLF city regions have seen a rate decline of 1% to 6%.
- Dwarka expressway has maintained a rate decline of 3% last quarter.
Comments/feedback invited.Last updated: September 1, 2015 at 18:19 pm