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Things You Need to Know About Property Rates in Delhi 2020

  • Highlights

  • Delhi has over 212 localities showing an uptrend in pricing

  • The average cost of a property in Delhi is Rs.2.99 crore

  • Top real-estate areas in Delhi are Saket and Greater Kailash

  • Invest here via the Bajaj Housing Finance Limited Home Loan

Rated as the ninth-fastest growing housing market among the top cities in the world by Knight Frank, Delhi has prime residential plots across many of its localities. However, the major demand for real estate in this region is in the budget and mid-income housing categories as these have received generous support from government incentives. Further, with the liquidity crisis in the latter half of the last decade, builders across 7 major cities took to reducing apartment sizes by up to 27% in the last 5 years. However, in the National Capital Region, these sizes saw a dip of only 6% according to Anarock, meaning that even given the current property rates in Delhi, you still get good value for your investment.

While Delhi property prices are constantly shifting, it comes as no surprise that more than 200 localities are witnessing a downtrend in real estate prices. However, this is just one half of the property price trend in Delhi as there are 212 localities exhibiting an uptrend in prices. So, if you’re looking to take advantage of the localities that are soon to emerge as booming residential and commercial areas, it is crucial that you stay updated about the average Delhi plot price among other essential information.

To help you stay informed, read on to more about the land price in Delhi and the real estate pricing trend for the capital.

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Current Property Rates in Delhi

In Delhi, house prices differ vastly based on the type listed. For instance, the cost of a multi-storey apartment will be quite different from a builder floor apartment and similarly with residential plots and houses. So, knowing the current average cost as well as being informed about the specifics, like the property rates in South Delhi, is vital to making the best purchasing decision. As it stands, the average cost of a property in Delhi is Rs.2.99 crore and you can find apartments in Delhi that are as high as Rs.100 crore. Further, as per Makaan.com, the total number of properties listed in Delhi is around 1.4 lakh and you can find listings for residential land in Delhi exceeding the Rs.100 crore mark as well.

Property Rates and Price Trends in Delhi

When looking for a Delhi flat, rate increments and dips are something you should be prepared for. As it is the capital, it isn’t uncommon to find people from all over the nation looking for an opportunity to settle down here. While it can be tough to stay ahead of the trend, there are few regions that have notable reports worth looking into.

For example, in Uttam Nagar, the cost per sq.ft can go up to Rs.38,000. However, with just a 5% rise in price, the trend for this locality is worth noting because of the price/sq.ft peaked in mid-2017, then sharply dropped until the start of 2018 and is now on an uptrend. This is also the case with Vasant Kunj and Noida. The average property rates for these regions are Rs.33,599/sq.ft and Rs.24,935/sq.ft respectively.

Property Rates/Sq.ft in Delhi as per Locality

Listed below is the Delhi property rate as per the locality it is situated in.

Region Average price/sq.ft.
Noida Rs.24,935
Greater Kailash Rs.61,104
Geetanjali Enclave Rs.72,604
Green Park Rs.26,508
Anand Niketan Rs.29,275

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List of Top 5 Localities (Rate-Wise)

Region Average price/sq.ft.
Saket Rs.73,265
Greater Kailash Rs.61,104
Vasant Kunj Rs.33,599
Lajpat Nagar Rs.16,686
Gurgaon Rs.12,225

Now that you’re better informed about Delhi property prices and some of its more prominent localities, the next step is to identify a suitable home loan in Delhi that can help you make the purchase in a cost-effective manner. Avail the Bajaj Housing Finance Limited Home Loan as it offers a sanction of up to Rs.3.5 crore and is available at competitive interest rates. Here you can opt to repay over an extended tenor lasting up to 30 years.

When coupled with PMAY benefits such as the interest subsidy of up to 6.5%, you can fine-tune your borrowing to keep your outgo optimal all through. Further, through this home loan, you also have access to a suite of property search services such as expert counsel and legal aid. These benefits work together to ensure you have the best home purchase experience. To get access to home financing in a hassle-free manner, be sure to apply for this loan online.

Also Read: Here's why you should opt for a home loan

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