The residential market in Delhi NCR reflected signs of massive recovery in July-September 2021. With the market space reopening for
construction sites and site visits operating in full swing, conversions and inquiries enhanced QoQ, per the latest reports.
Central Noida and Noida Extension captured most inquiries for 2BHK and 3BHK units in the Rs.45-65 lakh budget segment. Luxury apartments and other authority plots pegged at about Rs. 2.5-3 crore along the Noida-Greater Noida Thruway and Yamuna Expressway gathered tractions too. Further, location-specific advantages and top-notch
projects undertaken by grade-A builders and developers have helped the location experience significant transactions.
Property Rates demarcate the rate at which current market has valued a piece of land, or real estate. Buildings, developers, buyers and sellers alike refer to the going rate while pricing their properties and negotiating around it. As it is the popular rate, it gives all stakeholders an idea of what is a feasible property price, and how much they can navigate around it.
In this context, what is under purview are the current property rates in the National Capital Region.
Property rates in Delhi Central range between Rs.12,708/sq. ft. and Rs.14,365/sq. ft.
Property rates in Delhi North range between Rs.3,995/sq. ft. and Rs.22,355 sq. ft.
Property rates in Delhi South range from Rs.2,932 sq. ft. for locations like Chattarpur Extension, whereas locations like Defense Colony go up as high as Rs.28,348/sq. ft.
One can purchase a residential property in Delhi Dwarka with prices ranging from Rs.3,825/sq. ft. to Rs.8,712/sq. ft.
The price range for apartments in Delhi East ranges between Rs.5,525/sq. ft. and Rs.17,000/sq. ft.
The price range for apartments in Delhi West starts from Rs.3,570/sq ft and ranges between Rs.11,300/sq. ft. and Rs.12,200/sq. ft.
First-time buyers purchasing a property in Delhi must keep some essential factors in mind before investing. These include the following:
Setting a budget is the most essential step one must undertake before buying a property in Delhi. The buyer must be aware of the
amount that they can pay for a down payment and how much EMI they can afford or be comfortable paying.
Selecting a location is not enough. For example, if a buyer decides to buy a property in Delhi, they must choose which locality in Delhi they are seeking property in.
This depends on the convenience of the locality, its proximity to hospitals, schools, shopping centres, grocery stores, etc.
Just because property rates in Delhi are within one’s budget, it does not indicate that the entire deal is affordable. Homebuyers must check property taxes incurred on properties in Delhi. The registration process costs a significant sum of money as well. The legal aspects along with additional costs must be kept in mind before deciding on the affordability of properties in Delhi.
One can enjoy lucrative property loan rates to budget their dream home. A secure loan like a loan against property always allows a borrower to enjoy a flexible tenor and plan other financial goals well in time.
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Last update on 11-Mar-2021
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