Housing prices stable during July-September in Delhi-NCR: Report

NEW DELHI: Real estate market in the national capital region remained sluggish during July-September with no increase in the average housing prices over the previous quarter, according to a report.

"Analysis of price trends in the previous quarter reveals that the Delhi NCR real estate market is sluggish and investors are still playing defensive," 99acres.com Senior Vice President-Sales Neeraj Sharma said in the report.

According to the report, prices per square foot in Delhi-NCR region have remained unchanged during the third quarter of 2014 calendar year compared to previous quarter.

"On the other hand, an annual comparison (Q3-14 with Q3-13) reflects a fall of 2 per cent in prices per square foot," the portal said in a statement.

Rentals of 3 bed room flats fell by 1 per cent. 99acres.com 'Insite' is a quarterly report focusing on capital and rental price trends in residential real estate across 7 major cities of India.

"Sector 31 in Gurgaon was the front-runner with an appreciation of 26 per cent in the July-September 2014 quarter followed by Sector Omicron 1 in Greater Noida where prices jumped by 22 per cent and Greater Kailash II in South Delhi that went up by 14 per cent," the report said.

Vasundhara and Vaishali in Ghaziabad saw a capital value decline of 10 per cent and 6 per cent respectively (quarter on quarter), it added.