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» High-end residential areas see 20-25% rise in price

Date: Oct 6, 2008

Author: Economics Times

NEW DELHI: Sentiments in the real estate sector across the country may be depressed, but capital values of all high-end residential localities in major metros have witnessed a 20-25% rise in the last four months.

The posh markets such as Greater Kailash I & II, Jorbagh, Golf Links, Amrita Shergil Marg, Sunder Nagar, Vasant Vihar and Shanti Niketan in Delhi, Napean Sea Road, Peddar Road, Breach Candy, Malabar Hills in Mumbai and Richmond Town, Lavelle Road, Cunningham Road in Bangalore have a witnessed a spurt in prices.

In Mumbai, the prices in posh areas such as Altamount Road, Napean Sea Road, Nariman Point and Churchgate have gone up by 20-25%. But leading the pack is south Delhi which is seeing a major spurt in land values, with the market quoted prices as high as Rs 5 lakh to Rs 10 lakh per sq yard.