Quarter sees consistent decline in rentals and fresh sale/resale business in Noida, Gurgaon

We have seen how rentals have nosedived in year 2015.  The last quarter of 2015 and first quarter of 2016 continue to show the same trend leading to sharp decline especially in traditionally strong rental areas. The buying price too saw some decline but Q0Q findings reflect some stability in comparison.

(All percentage figures below are Quarter on Quarter (QoQ)  unless specified otherwise)

As per Makaan.com’s findings, the beginning of this year saw around 1.5% of rental decline on an average in Delhi NCR.

As per magicbrick’s regionwise report:

• It was mostly the established rental regions that are seen to experience rental correction of more than 5%. Vivek Vihar in sector 82 Noida was again the worst affected with a negative decline of more than 10% (from June, 2015), mostly attributed to tenants preferring newer societies over the vastly degrading quality in these set ups. Regions close to metro experienced stable rents.
• The rentals in newly developed regions like Noida expressway, Noida 7x, Gurgaon Sohna have however risen by a marginal 1-2%.

At the same time, fresh sale/resale price decline are seen to be stabilizing. As per 99acres, the average decline in buying price is at 2 % in Noida, 1.5% in Gurgaon and a relatively poor 3% in Ghaziabad and Faridabad.   which is some sign of stability in comparison to previous 3 quarters that saw 4%-6% decline especially for resale prices.

As per the report, among the upcoming areas:

• Average buying price in Noida expressway is down by around 1% and in Noida 7x by around 1% to 5%.
• Best performing sectors are from Jaypee wishtown ( average 1.5% increase) , sector 117/sector 135/sector 110(around 1% increase) and sector 168 (around 2% increase).
• Sector 143B was worst performing among upcoming regions in Noida with a negative growth of 7% followed by Noida extension at more than 3% decline.
• Dwarka expressway saw some improvement by 1% QoQ which is better in comparison to the decline it saw last year end.
• Sector 11x Gurgaon also saw good average appreciation of 3%.
• Sector 7x and 37C Gurgaon saw a considerably negative growth of average 4%.

References:

http://pricetrends.makaan.com/property-price-trends-for-renting-property-in-delhi-ncr/?mc=M1&pf=2&pt=3&tm=12

http://pricetrends.makaan.com/property-price-trends-for-buying-property-in-delhi-ncr/?mc=M1&pf=1&pt=3&tm=12

http://www.99acres.com/property-rates-and-price-trends-in-noida

http://www.99acres.com/property-rates-and-price-trends-in-gurgaon

http://www.magicbricks.com/Property-Rates-Trends/ALL-RESIDENTIAL-rates-in-Noida

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Last Updated on April 12, 2016 by Go4Reviews