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Property Prices Stable In NCR, Soaring ElsewhereBy ugesh sarkar, Section Noida Real Estate Property
Property prices in the National Capital Region (NCR) have increased only marginal- ly in the last six months, in stark contrast to the situation in most other cities in India, shows a recent survey conducted by estate research agency PropEquity.
Upmarket housing in Gurgaon costing above Rs 75 lakh a unit is the only exception, having risen by around 20 per cent since September. Affordable homes in the NCR -- those priced between Rs 5 to Rs 35 lakh -- have seen sin- gle digit growth in price, while the cost of similar homes in Mumbai have gone up by a whopping 32 per cent. PropEquity conducted a 13- city survey that included the five key real estate markets in the NCR: Gurgaon, Faridabad, Ghaziabad, Noida and Greater Noida. In Noida, it found prices of the Rs 5-35 lakh homes had gone up only two per cent, while in Gurgaon it was nine per cent. "The low end market in the NCR region failed to pick up due to excess supply and lack of investor interest," said Samir Jasuja, managing director & CEO, PropEquity. The price rise in all segments has been the highest in Mumbai and its surroundings. Delhi was not considered because there is very little con- struction within the city limits lalatendu.mishra@hindustantimes.com Source: Hindustan Times By Lalatendu Mishra Property prices stable in NCR, soaring elsewhere
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