| The National Capital Region is witnessing frenzied | | | | cent. |
| activity again. This time round, it is across segments | | | | Mayur Vihar and much of East Delhi is riding the crest |
| and in all categories including plots, floors and | | | | of the Commonwealth Games and the advent of the |
| apartments. The elections were a big driver. | | | | Metro. Areas which had previously recorded very low |
| Affordable housing has caught the fancy of private | | | | capital and rental values have already witnessed a 100 |
| developers in Delhi, and large developer groups from | | | | per cent rise. The reason for shifting of population |
| the NCR, such as DLF have launched affordable | | | | from expensive Noida to the more affordable Mayur |
| housing in Moti Nagar. | | | | Vihar has been the rental values and the steadily rising |
| Values have gone up by 8-10 per cent across the | | | | demand for rental housing. The advent of the Metro |
| board in established areas of Delhi and another 5-7 per | | | | will enhance these values further. |
| cent hike is expected in capital values after the budget. | | | | Delhi market has been witnessing a weakening |
| The buyer profile includes end users, investors, builders | | | | sentiment because of the global economic slow down |
| and High Net Worth individuals. | | | | and consequent job losses. Today the active buyer |
| In premium residential areas such as Defence Colony, | | | | segments are traders and businessmen. According to |
| Vasant Vihar and Greater Kailash there has been a | | | | experts there is money with potential buyers but they |
| significant number of transactions. As a result there is | | | | are holding back, either waiting for market to |
| very little stock waiting to be sold in the market. Only | | | | bottom-out or because they are waiting for the |
| those sellers who are asking for unreasonably high | | | | economic scenario to improve. For serious end user |
| values are left with stock. According to a real estate | | | | buyers this is probably the right time to buy. After this |
| consultant, "In a rising market the expectation of the | | | | once the Metro advances from across Delhi to the |
| owners rises faster than the market. In a falling market, | | | | NCR, values are bound to rise. Today it is possible to |
| on the other hand, their expectations fall slower than | | | | negotiate with sellers but after a few months this may |
| the rest of the market." | | | | not be possible. |
| In the less premium market such as Saket, Hauz Khas | | | | The retail market will take more time to stabilise. |
| and Green Park the rate of transactions has been low | | | | Neighbourhood markets and Local Shopping |
| with values falling 15-20 per cent from peak values. In | | | | Complexes have scored over shopping malls which |
| middle class areas such as Moti Nagar and Vikas Puri | | | | have seen a drop in footfalls. |
| values have registered a steep fall of almost 30 per | | | | |