April 14, 2024

Jocuri

Mad about real estate

Gurgaon Residential Property Rates – The Latest Trend

The latest trend in Gurgaon property rates shows an upswing in the residential property rates. Since the onset of the slump in the property market over the last couple of years, the real estate prices in this region has undergone a downward trend. But now the slump has shown signs of tapering off and the real estate market is back in the saddle. The average prices prevailing in the main centres of the city are like this: DLF Phase V, apartments Rs.2500 to 7000 per square feet, builder flats 6500 to 7500 and plots 50000 to 65000. These figures were approximately 5{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} to 10{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} less about 6 months ago. In the South City, apartment rate per square feet is from 3520 to 8000, builder flats 3000 to 5000 and plots 10000 to 25000. This price trend was approximately 10{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} less about 6 months ago.

The upward trend of the residential Gurgaon properties could be further evidenced by an analysis of the average price prevailing in other prominent locations of the metro centre. In Sushant Lok III, the apartment rate is on an average from 2000 to 3500, builder flats 2800 to 5000 and plots 25000 to 55000. Approximately one year back, these properties were available at about 10{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} to 15{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} less than these prices. Again, on the Sohna Road location, apartment 200 to 3500, builder flats 3200 to 4000 and plots 20000 to 40000. Last year December, these properties were available at 8{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} to 15{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} less than these prices. In the Palam Vihar area, apartment 3200 to 3500, builder flats 2500 50 4000 and plots from 30000 to 35000. About six months ago these were about 10{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} to 12{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} less than these figures. Further in the HUDA 2 locality, apartment 3000 to 6000, builder flats 2500 to 4000 and plots 20000 to 40000.

As aforesaid, the latest residential Gurgaon properties rates show an upward trend. Not only prices, but rental rates also show an increase now. In the DLF Phase V, apartments admeasuring around 2000 to 25000 square feet have an average rent of 25000 to 65000 per month and builder floors from 17000 to 25000. In the South City area is around 10000 to 25000 and 15000 to 20000 respectively. The same kind of properties in the Sohana Road region has rent from 13000 to 18000 and 11000 to 17000 respectively. These figures were about 10{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} to 15{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} less about one year ago. Apart from the waning effect of the slump, the recent sophistication in transportation infrastructure has as added a new dimension to the property appreciation in this stretch.