There has been a lot of talk in this forum and others about a price correction. How do the real estate investment gurus see the Delhi market. Are prices likely to fall, stagnate or go on the upward spiral? Please give your opinions.
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  • Deadly silence on this very active forum. Does this mean that the members here are not interested in Delhi?
    I was keen to know if you think it is worthwhile buying property in Delhi at current rates or should one wait for the much promised correction? Has anyone encountered a fall in price being quoted? Or struck a good bargain?
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  • I don't think that Delhi prices are going to come down. Availability is very limited and with inflation creeping up don't expect RE prices to come down. It could be different for one or two places like Lok NayakPuram, Nafagarh, Narela etc, but any good idea won't see a price dip.
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  • Delhi price never falls.

    Ek bar kisi ne flat ka keemat 2 carod bol diya, to sara mohalla vaise hi flat ke liye 2 karod se kam ek paisa bhi nahi lega.

    Chahe flat 10 saal naa bik paye
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  • hehehehe, very true Venky bhai.
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  • दिल्ली में जमीन की कीमतों में इजाफा

    रियल एस्टेट पोर्टल चलाने वाली एक कंपनी ने कहा है कि जनवरी-मार्च 2011 की तिमाही में राजधानी क्षेत्र में जमीन की कीमतों में पिछले साल के 28.02 फीसदी तक बढ़ोतरी हुई है। कंपनी के कारोबार प्रमुख विनीत सिंह ने एक बयान में कहा, दिल्ली में जमीन की कीमतों में लगातार तेजी जारी है। हालांकि, बाजार स्थिर होने की तरफ अग्रसर है कीमत कम करने के बारे में काफी बातचीत चल रही है।'

    कंपनी की स्टडी के मुताबिक, राजधानी के द्वारका सेक्टर-11 में इस समय 7,100 रुपये प्रति वर्ग फुट की कीमत चल रही है, जो इससे पिछले साल 5,546 रुपये प्रति वर्ग फुट पर थीं। इसके अलावा द्वारका सेक्टर-2, सरिता विहार और रोहिणी में जमीन की कीमतें पिछले साल की तुलना में 25 फीसदी तक बढ़ी हैं। सर्वे में कहा गया है कि दिल्ली मेट्रो से जुड़ जाने के कारण इन क्षेत्रों की कीमतों में बढ़ोतरी हुई है।

    सबसे कम कीमत की बढ़ोतरी उत्तम नगर में दर्ज की गई। यहां जमीन की कीमत पिछले साल की तुलना में 8.01 फीसद बढ़कर 2,846 रुपये प्रति वर्ग फुट पर पहुंची है, जो इससे पिछले साल 2,635 रुपये प्रति वर्ग फुट थीं। भविष्य के बारे में बातचीत करते हुए सिंह ने कहा कि औसतन दिल्ली में जमीन की कीमतों में 15 फीसदी की बढ़ोतरी हुई, जो बाजार की धारणा से 5 फीसदी कम है। मौजूदा ट्रेंड ही जारी रहा तो दिल्ली में कीमतों की स्थिरता आगे बढ़ेगी लेकिन अभी दिल्ली के प्रॉपर्टी मार्केट में कीमतें कम होती नहीं दिख रहीं। ज्यादा से ज्यादा ये अपने बेस्ट प्राइज पर स्थिर हो जाएंगी।

    -Navbharat times
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  • Real estate prices soar in Delhi, NCR


    NEW DELHI: Real estate prices in some localities of the national
    capital skyrocketed by 20 to 27 percent in the first quarter of the
    current fiscal as compared to the corresponding period of 2010-11, an
    industry report said Wednesday.

    "Property prices for Delhi have seen escalation if we compare per
    square feet prices of quarter (Q)1-11 over Q1-10. Key localities -
    Sarita Vihar and Rohini - have seen 27 percent and 20 percent
    appreciation in prices compared to prices over Q1-10," said a report
    by online real estate trade portal 99acres.com.

    According to the report, the upward price sentiment would continue as
    the prices on average are growing by 15 percent.

    "If the present trend continues we'll see price stability in Delhi
    going forward. But, as of now I do not see any price reduction
    happening in the Delhi market," said Vineet Singh, business head of
    99acres.

    The report said that South Delhi locality Sarita Vihar's PSF prices
    increased by 27.60 percent at Rs.8,110 as compared to Rs.6,356 in the
    like period of 2010-11, while north Delhi-based Rohini's PSF prices
    appreciated by 25 percent.

    This is followed by Patparganj at a PSF price rise of 21.68 percent.
    Other localities like southwest Delhi-based Dwarka sub city's PSF
    price also grew by 28 percent in sector-11 and sector-2.

    Realty prices in suburban national capital region like Noida and
    Gurgaon also increased due to operationalisation of metro rail
    services.

    Prices per square feet in sector 110 and sector 93 of Noida also moved
    up by 16 percent and 11 percent as compared to prices in the
    corresponding period of last fiscal, said the report.

    "Gurgaon witnessed an upward trend in property prices. Properties
    located on the Sohna Road and DLF City phase IV have seen the highest
    appreciation in prices by 46 percent and 42 percent, respectively, in
    Q1-11 over Q1-10," the report said.
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  • Originally Posted by Venkytalks
    Delhi price never falls.

    Ek bar kisi ne flat ka keemat 2 carod bol diya, to sara mohalla vaise hi flat ke liye 2 karod se kam ek paisa bhi nahi lega.

    Chahe flat 10 saal naa bik paye



    To kya da saal tak band pada rahega?
    Delhi must be the only city in the world where the prices have gone in only one direction -UP.
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  • Dont expect any correction. Even if the price drops 10% it will again jump 20%. If you have money buy now.
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  • Originally Posted by Shiro
    To kya da saal tak band pada rahega?
    Delhi must be the only city in the world where the prices have gone in only one direction -UP.


    Yes, people like to keep properties locked for a long time. Some may give it on rent and they get paid to wait.

    On the other hand basic rule of physics is that what goes up must come down.
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  • Not Delhi properties. They just rocket to land on the moon.
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  • Originally Posted by Venkytalks
    Delhi price never falls.

    Ek bar kisi ne flat ka keemat 2 carod bol diya, to sara mohalla vaise hi flat ke liye 2 karod se kam ek paisa bhi nahi lega.

    Chahe flat 10 saal naa bik paye


    I remember one of my friend had put his house in Paschim Vihar on sale for 5 crore rupees. (nearly one year back, a 200 s. yard piece). I asked him about the rationale for his pricing. He said "pados mein 4 crore ka bika hai".
    After 2 weeks, I asked him: koi offer aai?, and he said 4 crore ki.
    After sometime I asked him the same question, he said: kehtein hain sava 4 crore le lo.
    After 10 more days, he told some one offered him 4.6 crore.
    After 3 more weeks, he told me "bik gaya 5 crore mein!"
    It was nearly a year back. Now I am hearing the same thing costs around Rs. 8 crorers!
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  • Originally Posted by Shiro
    To kya da saal tak band pada rahega?
    Delhi must be the only city in the world where the prices have gone in only one direction -UP.


    Four flats in my parents building are lying empty for many years.

    First they were asking for 1 crore. We said - pagal hai, koi nahi dega.

    Now they are asking for 2.25 crore. When I heard this, I said - have they gone nuts?

    The flats are still empty. Asking price is still 2.25 crore. Next year it will be 2.5 Cr - and so on it will keep lying empty and they will keep asking for more
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  • Ya, that is very much true for Delhi properties.
    People have bought these properties at such a low price that they put unexpected sale price now. Not to mention that all these properties for them were paid off long time back and if they are not in need of urgent money then any unrealistic price becomes realistic for them. Shortage of supply and intention of hiding black money also contributes to the rise of such unrealistic prices.
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  • Originally Posted by Venkytalks
    Four flats in my parents building are lying empty for many years.

    First they were asking for 1 crore. We said - pagal hai, koi nahi dega.

    Now they are asking for 2.25 crore. When I heard this, I said - have they gone nuts?

    The flats are still empty. Asking price is still 2.25 crore. Next year it will be 2.5 Cr - and so on it will keep lying empty and they will keep asking for more


    A broker today told me that the asking price of a raw DDA flat in Alaknanda is 2 crore. He said the last one of similar dimensions had gone for 1.85 crore. So the owner has upped the rate by 15 lakhs leaving room for some negotiation. 12 years ago the price being quoted was 30 lakhs and I had thought it was too high!
    At that time everyone seemed to be buying swish and swanky apartments in Gorgoan. DDA was considered down market. But the way the prices have gone up there has been more appreciation in Delhi flats then elsewhere.
    I asked the builder how long it took to find a buyer at 1.85 crore and he said five months. I suppose that it is an okay waiting period if you are in no hurry for money and want to make a neat packet.
    I only wish now I had bought a flat then for 30 lakhs! One lives and learns!
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  • Originally Posted by Shiro
    I only wish now I had bought a flat then for 30 lakhs! One lives and learns!


    Same here :-(

    I have realised that central areas will always command a hefty premium even if property is old, run down and doesnt seem worth living - which describes most DDA flats.

    Location is all that matters, nothing else
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