Delhi NCR Monthly Real Estate Monitor May 2017

Delhi NCR Monthly Real Estate Monitor May 2017

From JLL India

DATA ANALYSIS FOR THE MONTH OF APRIL 2017

Office

Demand  remained healthy but is starting to get constrained due to declining vacancy in quality projects; older projects undergoing rent correction.

Major transactions:

Lufthansa, Azure Power in Aerocity-SBD,

New Completions:

Trustone City SEZ Phase 1 in Noida and Digital Greens in Gurgaon

Key Precincts	Rental Value (INR per sq ft per month)	Capital Value(INR per sq ft)
Barakhamba Road	140–340	28,000–35,000
Jasola	100-110	15,000–18,000
DLF Cybercity	105–120	NA
MG Road	90-120	14,5000–17,500
Golf Course Road	75-150	12,500–17,000

Retail

Leasing activity continued to be constrained by low vacancy in superior malls as most well-known brands are looking for available space in these select malls only

Major transactions:

Reliance Trends in Greater Noida

New Completions:

No completions during the month

Key Precincts	Rental Value (INR per sqft per month)	Capital Value(INR per sq ft)
South Delhi	200–400	26,000–40,000
West and North Delhi	140–230	15,000–23,000
Gurgaon–MG Road	140–270	17,500–23,000
Rest of Gurgaon	60–100	8,000–14,000
Noida	130–220	14,000–25,000
Ghaziabad	90–150	10,500–16,000

RESIDENTIAL

Sales continued to stagnate and launches are low as developers are aiming to complete pending projects or ensure compliances with the onset of RERA. Prices remain under pressure.

New Launches:

Cerise Suites in Gurgaon

Key Precincts	Rental Value (INR per month for a 1,000 sq ft 2BHK apartment)	Capital Value(INR per sq ft)
Golf Course Road	27,000–32,000	13,000–15,000
Sohna Road	17,000–20,000	5,800–7,200
Golf Course Extension Road	19,000–22,000	8,000–10,000
Dwarka Expressway	NA	5,000–7,500
Noida–Greater Noida Expressway	13,000–15,000	4,300–6,500
Noida City	12,000–14,500	4,600–6,000
Indirapuram	11,000–12,000	4,500–5,300

Policy/ Infrastructure

Revival of JewarAirport as well as Greater Noida-Jewarairport metro proposals by UP Govtand local bodies

HUDA to start work on a road connecting SPR with NH-8, bypassing KherkiDaula, in a few weeks and expected to be completed over the next 2-3 months.

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