With prices at up to 30% below prime areas of Delhi NCR, India, investors can find bargains in the secondary market, says Santhosh Kumar,CEO of JLL India
With secondary property markets in Dehli, India, priced up to 30% less than primary sectors, investors can now pick up bargains, says the head of top agency, JLL India.
The Delhi National Capital Region (NCR) property market has seen sluggish sales as high inflation, rising input costs and increasing home values have hit sales volumes, says Santhosh Kumar, CEO Operations, of JLL India.
“The festive season of 2013 was one of the most muted in the last five or six years, as sales remained sluggish despite the advertised discounts, festive offers and new projects.
“Some residential corridors still remain attractive at current valuations. Secondary market valuations are currently trending at a 25-30% discount to the primary market – therefore, the secondary market is a good avenue to get bargain sales.”
Among the best areas in Dehli for investors in residential property to look are:
· Sohna: Lower residential rates, the next development corridor, and it benefits from the KMP Expressway and proximity to Gurgaon.