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Indian Express
14 hours ago
- Business
- Indian Express
From Dwarka Expressway to Golf Course Extension, places in Delhi-NCR where home prices have risen the most in 10 years
If you bought a house in Dwarka Expressway a decade ago, chances are its value has almost tripled, and in Greater Noida, its value in the same period has grown by a factor of 3.25, according to a report by ANAROCK Research. 'The reason for the price rise is largely because of the various infrastructure developments, and improved connectivity in these areas, which inevitably boosted homebuyer demand over the years. Moreover, these were the top areas with maximum new supply in the last several years,' Santhosh Kumar, Vice Chairman, ANAROCK Group, told The Indian Express. 'Sales too remained significantly high in the areas over the years as developers sought to launch projects here based on homebuyer demand,' Kumar added. As per data gathered by ANAROCK Research, here are the top five areas where real estate prices have appreciated the most from 2015 to 2025 (till date): Greater Noida West saw the maximum price appreciation of 225 per cent during the period, from Rs 2,750 per square foot in 2015 to Rs 8,950 per sq ft in Quarter 1 (Q1) of 2025. New Gurgaon was the second top locality that saw average property prices rise by 215 per cent during the period. They rose from approximately Rs 3,700 per sq ft in 2015 to nearly Rs 11,670 per sq ft in Q1 2025. Dwarka Expressway in Gurgaon saw average prices rise by 160 per cent during the same period, from Rs 4,730 per sq ft to nearly Rs 12,300 per sq ft as of Q1 2025. Sohna saw an average property price rise of 88 per cent, from Rs 3,600 per sq ft in 2015 to nearly Rs 6,780 per sq ft in Q1 2025. Golf Course Extension saw average prices rise by 108 per cent during the period. They rose from Rs 6,500 per sq ft in 2015 to Rs 13,500 per sq ft in Q1 2025. The above data does not include the prices of plotted developments and government housing.
Hindustan Times
6 days ago
- Business
- Hindustan Times
Homebuyers' guide: What you need to know about arbitrary payment clauses in builder agreements
In 2022, Ramesh Mehta booked an under-construction apartment in Pune. His builder-buyer agreement stated that each instalment would be due on 'completion of the corresponding construction milestone or 60 days from the date of booking, whichever is earlier.' The second instalment was tied to the completion of the first-floor slab. However, the builder demanded payment just 60 days after booking, even though the slab work hadn't started. Since the clause allowed it, Mehta was forced to pay despite no visible progress. Later, construction stalled for months, leaving him financially strained with no assurance of timely possession. This example highlights the importance of thoroughly understanding all aspects of the purchase, especially when buying property in India. Go through the timeline of payments to the builder as mentioned in the agreement. The 'whichever is earlier' clause typically links payments to either the achievement of a construction milestone or a pre-decided calendar date—whichever occurs first. 'If the date arrives before the milestone is achieved, the buyer is still obligated to pay, even if the project is delayed. This can place an undue financial burden on the buyer,' says Jayesh Rathod, co-founder and director, The Guardians Real Estate Advisory. In property sales agreements, the clause of 'whichever is earlier' usually pertains to payment deadlines of a fixed period, such as three months, or an event which involves loan disbursement, approvals, or when the seller has met their obligations. 'If this event takes place ahead of the fixed period, the buyer will be required to make an immediate payment and not doing so may result in forfeiting of the amount paid in advance, or the agreement is terminated,' says Santhosh Kumar, vice chairman, ANAROCK Group. Although developers often support their demand notices with progress photographs and certifications from project engineers or architects, it is critical that the sale agreement explicitly requires that such demand notices be substantiated with certified proof of milestone achievement. 'From a buyer's standpoint, aligning payment schedules with actual project development helps avoid premature cash outflows, prevents EMI burdens on under-construction loans, and provides greater financial flexibility,' says Shubhi Jain, principal partner and head of CRM, Square Yards. 'You may receive a notice of payment default and not actioning it may result in penalties, interest being levied, or even the booking cancelled,' says Kumar. 'Much depends on how clearly the milestones are mentioned in the agreement. If they are ambiguous or misleading, you may be able to find recourse with Real Estate (Regulation and Development) RERA or consumer forums,' says Kumar. Under RERA, buyers in India have a legal right to negotiate their payment terms. The law promotes payment plan systems that are construction-linked rather than linked to arbitrary dates. 'To get this right financially, the payment should be linked to the completion of the verified stages of construction—slab completion, internal finishing, or any such step that can be financially measured. Whenever any request is presented forthwith to the developer, he does entertain the request. It would indeed be advisable to get legal advice during the drafting of the agreement and ensure that the schedule of payments is drafted in your favour,' says Rathod. 'It is advisable to negotiate for payment triggers that are linked to specific, tangible milestones, such as completion of certain floors, receipt of the Completion Certificate (CC), or formal application for the Occupancy Certificate (OC),' agrees Kumar. Also Read: Donald Trump's 5% tax on remittances: Should NRIs fast-track real estate investments back home? A payment clause that is flexible and based on milestones thus reduces the risk of premature payments. Anagh Pal is a personal finance expert who writes on real estate, tax, insurance, mutual funds and other topics
Hans India
23-05-2025
- Business
- Hans India
Hyderabad Office Rents Surge 24% as MMR Leads with 28% Growth
Hyderabad has emerged as one of the fastest-growing commercial office rental markets in India, with rents increasing by 24.1 per cent from 2022 to 2025. Rental values in the city rose from Rs 59 per square foot per month in 2022 to Rs 72 in 2025. Leading the nationwide surge in rental rates, the Mumbai Metropolitan Region (MMR) witnessed the highest jump, with rental values climbing 28 per cent over the same period. Rentals in MMR increased from Rs 131 in 2022 to Rs 168 in 2025. High-demand micro-markets such as Bandra-Kurla Complex, Lower Parel, and Andheri East remain preferred locations for sectors like finance, IT/ITeS, and startups. Delhi NCR followed with a robust 20 per cent increase, as rents rose from Rs 92 to Rs 110 per square foot, driven by growing demand in Gurugram and Noida supported by new infrastructure projects. Bangalore recorded a 15.8 per cent rise in rental rates, anchored by sustained interest in Whitefield, Outer Ring Road, and Electronic City from global occupiers. Pune and Chennai experienced more moderate rental growth of 11.1 per cent and 9.1 per cent, respectively, reflecting steady expansion in their IT/ITES and industrial segments. Despite ongoing global economic challenges, India's commercial real estate market has demonstrated resilience, bouncing back from the pandemic-induced slowdown. Increasing demand for premium office space is evident as companies transition from hybrid work models back to structured in-office environments. This shift is particularly evident among Global Capability Centres (GCCs), technology giants, and BFSI sector players. Peush Jain, Managing Director of Commercial Leasing and Advisory at ANAROCK Group, noted that in the first quarter of 2025, GCCs leased an impressive 8.35 million square feet of office space, with Delhi NCR alone accounting for nearly 23 per cent of this demand. Over the last two years, GCCs have contributed more than 37 per cent of office leasing across India's top seven cities, highlighting a sustained commitment to expanding operations in metropolitan hubs. Investor confidence is strengthening as rental yields improve, especially in Hyderabad and Delhi NCR, where capital values remain competitive. The return of office space absorption to pre-pandemic levels, alongside growing traction in Real Estate Investment Trusts (REITs), signals optimism in the commercial property sector despite global uncertainties. According to Jain, India's commercial real estate landscape is evolving with the hybrid work model maturing into a strategic combination of physical office spaces and flexible arrangements. This has maintained a strong leasing pipeline, particularly in technology parks, co-working hubs, and special economic zones. As demand continues to surpass supply in prime micro-markets, India's growing role as a global outsourcing hub will likely keep driving rental values upward. The commercial property market remains a key area of focus for businesses seeking strategic locations and investors aiming for long-term growth.
The Hindu
20-05-2025
- Business
- The Hindu
Three southern cities dominate GCC space leasing in Jan-March quarter, says study
Bengaluru, Chennai and Hyderabad, the top three southern cities dominated Global Capacity Centre (GCC) space leasing in the January-March 2025 quarter according to a study by Anarock. Of total 8.35 million sq. ft. gross office spaces GCCs in top seven cities during the quarter Bengaluru, Chennai and Hyderabad collectively leased approx. 5.34 million sq. ft.; Delhi-NCR saw 1.95 million sq. ft. gross space leased to GCCs, as per the study. Gross leasing of overall office space in top seven cities at 19.47 million sq. ft. in the quarter , with GCCs comprising a 43% share (8.35 million sq. ft.). In the same period last year GCCs leased approx. 4.87 million sq. ft. space, up 72% year on year. 'IT/ITeS held a 35% share of overall GCC leasing this year, followed by BFSI with 22%, and manufacturing and industrial with 13%,' Anarock said. The top seven cities together had 1,700+ GCCs by 2024-end, with a market value of approx. $52 billion and housing 1.70-1.80 million working professionals. Amid high demand, total number of GCCs in top cities may hit 2,200-2,300 by 2030 with a market size of $100-110 billion and 2.4-2.8million employees, the study emphasised. Mid-sized GCCs for 1,000-2,000 employees appear to dominate upcoming influx in India, it pointed out. A ramp up of presence of GCCs have been seen on India's commercial real estate landscape in the last few years, with A government initiative announced in the last Union Budget is accelerating this trend. The Union Budget 2025-26 had made a provision for a National Framework to provide guidance to states for promoting Global Capability Centres in emerging tier 2 cities. The taskforce has been assigned the task to suggest 16 measures for enhancing availability of talent and infrastructure, building-byelaw reforms, and mechanisms for collaboration with industry. As per Anarock study top cities are witnessing escalating demand from both new GCC entrants and those expanding their existing operations. Peush Jain, MD, Commercial Leasing & Advisory, ANAROCK Group, said, 'City-wise data indicates that Bengaluru leads in gross leasing by GCCs in Q1 2025 with a 40% share, or approx. 3.3 million sq. ft., followed by Delhi-NCR with a 23% share - or approx. 1.91 million sq. ft. and Chennai with 1.22 million sq. ft., or a 15% share.'
Time of India
24-04-2025
- Business
- Time of India
Property prices in Greater Noida surge by 98% in five years
NCR's Greater Noida saw highest price appreciation among all NCR cities in the last five years with per sq ft rising by 98%. Over the last decade, NCR has seen a massive resurgence in demand and supply across real estate segments, and key hotspots have witnessed remarkable housing price appreciation. 'Average prices in Greater Noida rose from Rs 3340 per in Q1 2020 to Rs 6600/ by Q1 2025-end. Noida recorded the second-best appreciation of 92% in the same period – from Rs 4795 in Q1 2020 to INR 9200/ by Q1 2025,' said Santhosh Kumar, Vice Chairman – ANAROCK Group. Gurugram witnessed an 84% jump - from Rs 6,150/ to Rs 11,300 per sq. ft. in this period. Overall, the entire NCR saw an 81% jump in average residential prices over five years. NCR market, which had previously seen the highest unsold stock in the country, is now seeing a remarkable decline. Despite the significant price risesacross NCR in the last five years, unsold inventory in the region has dropped by 51% in the last five years – from approximately 1,73,117 units by Q1 2020-end to approximately 84,500 units by Q1 2025-end. City-wise, Noida recorded the highest 72% decline in its overall unsold stock while Ghaziabad saw its unsold stock decline by 58% in this period. 'Strong sales velocity over the years, along with significant new launches, reduced the inventory overhang to just 17 months by the end of Q1 2025,' said Kumar. The NCR residential market saw a new supply addition of 53,000 units in 2024, almost 44% higher than the launches in 2023. Another notable change is in budget categories - in previous years, affordable housing (units priced 'The NCR realty affected a massive turnaround post-pandemic. As the people realised the value of larger homes and the parallel thrust on infrastructure along with the construction of the Jewar Airport and inauguration of the Gurugram section of the Dwarka Expressway, the housing segment did not just witness a significant decline in unsold inventory but the demand for premium and luxury residences also soared. We expect this growth trajectory to continuously rise,' said Amit Modi, Director of County Group. In fact, the report highlights a significant increase in new launches in the ultra-luxury segment (units priced over Rs 2.5 crore), which contributed nearly 59% in 2024 as compared to 24% in 2023 - and only 4% in 2020. The supply share of affordable housing continued to decline, accounting for only 11% of NCR's total launches in 2024 as compared to 41% in 2022, and 47% in 2019. The report also identifies key growth corridors in NCR such as Sohna, New Gurgaon, Dwarka Expressway and Greater Noida West. "Infrastructure expansion, increased demand for quality living and buoyed investors' confidence is contributing to the impressive growth of NCR's housing market. Micro markets like sec-150 and Siddharth Vihar in Noida and Ghaziabad respectively stand out as promising micro-markets for high-end residential investment. Further, metro network expansions and expressways have significantly boosted real estate demand in these corridors,' said Prateek Tiwari, MD, Prateek Group.
