Monthly Real Estate Monitor Delhi - January 2013 By JLL India


Delhi residential market ..!

Delhi residential market continued to observe healthy demand from consumers in December, like in previous months. NH 8, NH 24 and Dwarka Expressway had come up as emerging locations in the city.

The new launches over the month included the Skycourt in Gurgaon by DLF, Vesta at Privvy, The Address by Spaze in Gurgaon and Elite’s Arena by Unnati Fortune in Noida. Whilst the rents remained stable, the capital values increased across submarkets on the back of stable demand during December.


Residential
Rents
Capital Value
Key Areas
Rs. per month for a 1,000 sq. ft 2.BHK flat
Rs. per sq.ft
Golf Course Road
22,000 to 32,000
12,000 to 16,000
Sohna Road
15,000 to 20,000
5,800 to 7,500
Golf Course Extension Road
16,000 to 22,000
7,500 to 9,500
NH 8
14,000 to 19,000
3,900 to 5,500
Dwarka Expressway
NA ( No operational stock)
5,000 to 6,000
Noida to  Greater Noida Expressway
12,000 to 14,000
4,000 to 5,500
Noida City
12,000 to 14,500
4,500 to 6,000
Indirapuram
10,000 to 12,000
4,000 to 4,800
NH 24
7,000 to 9,000
2,400 to 3,200


Retail spaces in Delhi ..!

The demand for retail spaces in Delhi increased during the month of December, 2012 decreasing the vacancy levels.

Some of the key transactions in December included Bahi leasing space in Golf Course Road and Mc Donald’s renting space in Eros Metromall in Dwarka. MSX Central Market in Greater Noida and Europark in Ghaziabad were the 2 malls that commenced their operations in December, 2012.

 Rents and capital value both remained stable in all submarkets.


Retail
Rents
Capital Value
Key Areas
Rs. per sq ft per month
Rs. per sq ft
South Delhi
180 to 240
21,000 to 30,000
West and North Delhi
140 to 220
14,000 to 23,000
Gurgaon to MG Road
150 to 280
15,000 to 20,000
Rest of Gurgaon
60 to 100
8,000 to 14,000
Noida
130 to 220
14,000 to 25,000
Ghaziabad
90 to 150
10,500 to 16,000


Delhi office market ..!

Delhi office market saw improved demand in December, with increase in pre to commitment of spaces. Vacancy levels increased as companies consolidated their operations in larger spaces and vacated their existing spaces. FLSmidth leasing space in National Highway 8 (NH 8), Salt renting space in Golf Course Road and Samsung taking space in Noida City were some of the key transactions committed during December. Veritas Corporate Suites commenced operations during December in Gurgaon with moderate occupancy. Rents and capital values remained stable across all submarkets.


Office
Rents
Capital Value
Key Areas
Rs. per sq ft per month
Rs. per sq ft
Barakhamba Road
170 to 400
26,000 to 33,000
Jasola
110 to 170
16,000 to 21,000
DLF Cybercity
67 to 72
NA
MG Road
114 to 130
16,000 to 18,500
Golf Course Road
85 to 95
12,000 to 15,000
Sohna Road
45 to 55
6,500 to 8,000



INFRASTRUCTURE ONGOING..!

Several builders were granted permission by the Mining Department to dig soil along Noida Extension. The Mining Department made some good recovery with the permission.

In addition to three toll plazas on the Delhi to Gurgaon Expressway, ‘touch to and to go’ smart cards have now been made available at another sale point near Ambience Mall. So far, Delhi to Gurgaon Super Connectivity Ltd (DGSCL) had already distributed around 3,500 cards to commuters.



About Jones Lang LaSalle India (JLL India)

Jones Lang LaSalle is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across eleven cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 5400, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, Industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.

For further information, please visit www.joneslanglasalle.co.in

For more information about research

Ashutosh Limaye
Head, Research and REIS
ashutosh.limaye@ap.jll.com
+91 98211 07054

Trivita Roy
Assistant Vice President, Research
trivita.roy@ap.jll.com
+91 40 4040 9100

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