Micro-Markets in NCR Region Continue to Stay Buoyant

• The demand and value for residential real estate is showing an upward trend in Delhi-NCR, especially when it comes to rentals.

• Gurugram has witnessed an impressive growth in the capital values, ranging from 10 per cent to 30 per cent, on an annual basis across various micro-markets.

• Noida has witnessed a significant increase in the capital values for properties across the board, making the city shine like a risen star.

• Delhi micro-market has been witnessing a significant increase in the capital value of residential properties across regions.

The real estate market in the top three micro-markets - Delhi, Noida and Gurgaon - is witnessing an upswing in demand and value. Real estate continues to be the best investment option in Delhi-NCR micro-markets, with people choosing to prefer these cities over others to live.

Key Highlights

• Real estate in Delhi-NCR micro-markets to be the hotspots as far as the demand is concerned.

• In Gurgaon, Golf Course Road and Dwarka Expressway saw the highest peak in rentals with 14 % and 12% YoY growth, respectively, making them the hotspots.

• In Noida, the highest growth in the capital values for ready-to-move properties was witnessed along Noida-Gr Noida E-way, along sectors 50, 75, 78, 79 & 107, with over 13% YoY increase.

• In Delhi, the sales took to a new high, establishing new price benchmarks across South and Central Delhi, with Central Delhi leading from the front.

In a report by Research & Reports (R&R), it was highlighted that each micro-market in Delhi-NCR is showing consistent momentum, with growth beyond everyone's expectations. Talking separately about all three micro-markets and their growth areas, the trends clearly show some prime pockets acing over others.

In Gurgaon, the three major markets include Golf Course Road, Golf Course Extension & SPR, and New Gurugram and Expressway, which are all registering YoY appreciation, and showing growth both, in terms of value and rentals. The ready-to-move properties here witnessed over 16 per cent YoY increase in capital values. With over 22 per cent YoY increase, under-construction properties saw higher appreciation in capital values as compared to ready-to-move properties. Demand for rentals witnessed an increase of 12 per cent YoY in average rentals. Golf Course Road and Dwarka Expressway saw the highest peak in rentals with 14 % and 12% YoY growth, respectively.

In Noida, the prominent markets include, Sector 150, Noida-Greater Noida Expressway, and Sectors like 50, 75, 78, 79 and 107. An average of 12 per cent YoY growth in completed properties here witnessed a significant increase in the capital values. The highest growth in the capital values for ready-to-move properties was witnessed in Sectors 50, 75, 78, 79 & 107, with over 13% YoY increase. In the under-construction property segment, the annual increase in capital values stood at around 14 per cent. The highest growth in the capital values for under-construction properties was noted in the micro-market of Noida-Gr Noida. Average rentals of premium properties in Noida increased by over 14% last year. Noida-Gr Noida Expressway saw the highest, over 16% annual increase, in rentals.

In Delhi, the top markets include, South-West, South-East, and South-Central and Central, with prominent areas including, Shanti Niketan, Anand Niketan, Westend, Vasant Vihar, GK-I, GK-II, NFC, Defence Colony, Sundar Nagar, amongst others. These areas witnessed a significant increase in the capital value of residential plots, with some markets surging ahead. South-Central market with 10% YoY, and South-East market with 3% YoY growth witnessed the highest and the second highest increase in prices respectively. The sales took to a new high, establishing new price benchmarks across South and Central Delhi, with Central Delhi leading from the front. As far as rental values are concerned, South-Central with 15% YoY growth witnessed the highest increase in rentals, followed by South-West and Central at 12-13% respectively.

Vishesh Prakash of Research & Reports (R&R), says, "With the real estate market continuing to show signs of buoyancy and both end users and investors cued in, the market continues to perform well. With each micro-market in the National Capital Region, having its high points, some clearly outperform others. Key micro-markets Gurugram, Delhi and Noida are not only witnessing growth and appreciation, but also soaring high on liability. With no real threat these key micro-markets will only add transactions in the market."

These trends affirm buyer preference for areas offering better amenities, and a product mix that suits their requirements in the current times. A number of factors are driving the success of Gurgaon, Noida and Delhi micro-markets and their prominent zones, which includes their favourable demographics, robust infrastructure, and availability of prominent projects here.