Property prices in Delhi-NCR rose 1 per cent in the April-June quarter as against the previous three-month period of the last fiscal despite subdued demand and huge unsold inventories, according to a report by realty portal 99acres.Com.
“Delhi NCR's property market continued its snail-paced trajectory from Jan-March 2015 to April-June 2015 with an insignificant growth of 1 per cent in property prices,” the portal said in a statement. It said that prices rose despite a huge inventory pile-up of 1.70 lakh units. On Delhi market, the portal said property prices fell by 2 per cent in April-June 2015 as compared to previous quarter.
“Property prices in South Delhi grew insignificantly, while that in North and West Delhi dropped by 5 per cent and 8 per cent, respectively. Dwarka's price graph declined by 4 per cent and East Delhi saw a stagnant real estate market,” the statement said. In Mehrauli, the prices went up by 7 per cent.
“The upmarket neighbourhoods of Greater Kailash I and II clocked a surge of 6 per cent and 4 per cent, respectively, in the quarter ending June in comparison to the previous one,” 99 acres.Com said. Commenting on the report, 99acres.Com Chief Business Officer Narasimha Jayakumar said.