YOUR CITY DELHI RENTAL Residential rental trends in Delhi/NCR

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}   Rental values are expected to rise by 10-20 per cent inselect localities this year Vineet K. Singh Delhi, as part of the National Capital Region, traditionallysees a huge influx of people who come here for various reasons. However, due torising realestate prices , most people rent, rather than buy,apartments during their stay in the city. During 2009, the city and the NCRregion witnessed varied average residential rental trends. Prime localities inSouth Delhi, such as Shanti Niketan, Vasant Vihar and Defence Colony have seenrentals dipping in mid2008 and rising by the end of 2009. Rents in localitiessuch as Safdarjung Enclave, Greater Kailash and CR Park wound down by 20 percent in 2009 but rose in Vasant Kunj and Saket all through last year. VasantKunj commanded rents of Rs 21, 897 in the first quarter, Rs 22, 910 in thesecond, rose to Rs 23, 414 by the third and ended the year at Rs 23,440. Thissignifies a 7 per cent rise in rental values from the first to the lastquarter. (See box) Vasant Kunj has also emerged as the most affordablerental destination in South Delhi for themiddle-income group. Mayur Vihar, one of East Delhi's most sought after colonies,has seen a significant rise in rents ­ 34 per cent rise in the period of ayear. This locality is very popular with people who work either in Noida or inDelhi because of the easy access it provides and its strategic location. Thepresent average rental value for a 3BHK flat here would be Rs 21,000. Meanwhile, Patparganj hasmaintained a steady average rental over the last four quarters. (See box) In NorthDelhi, the rent in Pitampura area rose from Rs 5,923 in the first quarter to Rs6,349 by the fourth quarter -a rise of 7.2 per cent. In West Delhi's Janakpuriarea, the rent in the first quarter was Rs 5,093 and by the fourth quarter, ithad shot up to Rs 5,840 -a significant rise of 14.7 per cent. Paschim Viharalso witnessed an increase of 14.4 per cent in rental values. As far as rentaltrends for 2010 are concerned, I see the rentalmarket stabilising and firming up on the rates after the first quarter. Also, sincethere will be no new supply coming in immediately, the rental values will moreor less remain stable. Select localities may see an increase of 10-20 per centin rental values. The author is Business Head, 99acres.com Courtesy: HTEstates 20 th Feb 2010 For more information regarding apartment in gurgaon, bedroomapartments, buy property in india, commercial complex in india, commercial realestate, commercial space in gurgaon, dealers, flats for sale, indian realestate investment, investment options in real estate, luxurious flats, malls,office space, office space in gurgaon, online real estate, penthouses gurgaon,plots, property consultants, property in gurgaon, property india, propertyinvestment, real estate company, real estate developer, real estate gurgaon,real estate in india, real estate investment strategies, real estate market,real estate news, real estate portals, realtors, realty, residence, residentialreal estate, sell property, shop, villas, Residential Apartment Visit www.zameen-zaidad.com / www.propertycafeteria.com

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