|Top 10 Property price trends - Pan India in FY 2010-2011|
|Thursday, 21 April 2011 00:20|
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Following real estate price trends across India, last Financial Year saw massive appreciations and indicators of a booming property market in this country. Here is a list of top 10 price trend we witnessed in 2010-2011.
1. GOLF COURSE ROAD YIELDED THE BEST RETURNS ACROSS INDIA:
This could well be one of the best years for a property investor if you happened to be someone who has invested in the right place at the right time, in this case this happens to be Golf Course road in Gurgaon in the beginning of the FY 2010. Investors were already sitting on a return of 128 per cent on their investments within a single year time frame. Average psf rates have moved from Rs 3757 in the first quarter of 2010 to Rs 8576 by Q4 of 2011.
2. MOST OF MUMBAI CAPITAL PRICES STILL ROSE IN DOUBLE DIGITS DESPITE ALREADY HIGH BASE PRICES:
Close on the heels of NCR as the most investor friendly locality in India, is Mumbai south west, already one of the most expensive real estate in the country. Juhu in Mumbai SW was the next most attractive destination (after GC road) for investors giving a 90 per cent return within the last one year despite already being the seventh most expensive locality in the country. We’re talking a base price of almost Rs 12100 psf going up to almost Rs 23,000 by the end of the year. Even Panvel, in Navi Mumbai, which has come up as an alternative to the very expensive maintown Mumbai could give a return of 52 per cent in this past one year despite the fact that there is more aggressive investor activity around Navi Mumbai as compared to more rental and resident activity in SW Mumbai.
3. GURGAON AND SW MUMBAI WERE THE TOP GAINERS APPRECIATION WISE:
On the whole, the top ten movers in terms of real estate gain in India were split between localities/sectors belonging to Gurgaon and Navi/SW Mumbai with the exception of Pune hogging the third place. Koregaon Park appreciated by 74 per cent, just after Golf course road and Juhu.
Pan India-movement in the Last Quarter
4. ROHINI IN NCR PICKED UP IN THE CLOSING QUARTER OFFERING THE BEST RETURNS IN THE SHORTEST TIME:
The largest quarter on quarter price appreciation when we compare 2011-Q1 data with 2010-Q4 data, took place in North Delhi-in Rohini where investors made a killing at 28 per cent return within a single quarter, this was more than what investors in Rohini made over the entire year which was just 25 per cent return. In 2010-Q4 psf rates were around 6380 and in 2011-Q1, this was 8165.
5. DELHI NCR, MUMBAI AND BANGALORE DID BETTER THAN OTHER CITIES WITH RESPECT TO CAPITAL PRICE APRECIATION:
The localities across the country that have seen maximum gain over the last two quarters is Rohini (Delhi), Chembur (Mumbai), Panvel (Navi Mumbai), HSR Layout (South Bangalore), in this order.
City-wise noteworthy Trends
6. NCR-GURGAON OUTDID NOIDA AS A CHOICE FOR PROPERTY INVESTMENT:
Gurgaon strode ahead of all the other regions as the choicest destination for residents and investors. Despite all the noise, Noida appeared totally lwo key in the final analysis with an average of 10-11 per cent return in the past one year. What is even more noteworthy is that Faridabad and Ghaziabad appeared to have lost out completely with a loss in capital value of 48 per cent and 12 per cent respectively. This could therefore be a good time to purchase property in these areas for end users.
7. MUMBAI-CERTAIN PORTIONS OF NEW MUMBAI ACTUALLY FELL INDICATING CASHOUTS:
Palm Beach in Navi Mumbai saw a drop in rates of almost 12 per cent in the last one year. All other localities in Mumbai rose on the whole with the star performers being Mumbai S/SW. Gains made across the year appeared to slow down with some localities already dropping value such as Powai and Khar in the last quarter.
8. BANGALORE-TRADITIONAL FAVOURITES SAW SOME LOSS OF VALUE THIS YEAR:
Investor hotspots such as Whitefield and Bannerghatta saw a withdrawal of sorts with capital values dropping in double digits in last one quarter itself. Whitefield, psf rates fell by 13 per cent and Bannerghatta, by 14 per cent. Hebbal, another hot destination for investors traditionally, saw a downtrend of almost 6 per cent over the past one year. Bangalore, on the whole saw a lot of volatility with some areas gaining value in double digits and others losing these in double digits.
9. PUNE SAW UNPARALLED APPRECIATION IN ONE LOCALITY AND DROP IN VALUE ON ANOTHER SUGGESTING HIGH VOLATILITY AND INVESTOR MOVEMENT:
Pune saw great volatility in terms of property price movement. While Koregaon park offered a price appreciation of 74 per cent over the past one year, NIBM depreciated by 2 per cent in the same time period. The rest of the localities in Pune saw a double digit appreciation.
10. KOLKATA-SOUTH REMAINED A FAVOURITE SUSTAINING CAPITAL VALUES:
Garia in South Kolkata gave a 37 per cent return over the past one year bettering East Kolkata and even Tollygunge in the South that used to be the traditional favourite.
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