Gurgaon Real Estate - Stabilizing Components
Gurgaon’s real estate market is undergoing a stabilized period. The property in Gurgaon is expected to have stabilized for the past three months. The stability in Gurgaon property only reflects the parallel phase of property trend that currently runs in the entire nation. However, Gurgaon’s stabilization in property is said to be in direct link with the share market.
According to broker agencies, just as the share market is witnessing a slump so is the property segment showing a similar trend. Therefore, this is only a temporary phase. When the shares will resurge in the next 6-8 weeks, the real estate segment will pick up significantly. Even though the individual transactions are on as usual, the investor buying has witnessed a halt. This is the reason why investor buying has had a stabilizing impact on the property transactions.
Yet another perspective to the slow-down in Gurgaon property is based on demand and supply mismatch. Many projects that were earlier in the pipeline, have been completed in the last six months. As a result, there is an increased supply when the demand is more or less the same. Hence, the property prices have stabilized.
At the same time, market experts had also been predicting the halt in property rates at Gurgaon for a long time based on the values for the past quarter. Both the capital values as well as the rental values are accounting for a similar trend. The capital value for an apartment in DLF Phase I ranges between Rs 4,700-4,900 per sq ft. This is similar to the rates prevailing in December 2007 at Rs 4,200-4,700 per sq ft.
The rental values for 3 BHK in DLF Phase I have stabalised at Rs 22,000-25,000 per month, since December 2007.Localities as Sushant Lok and South City are showing a similar trend. The present capital value for a builder flat in Sushant Lok is Rs 6,986-9,315 per sq ft, which is somewhat similar to the property prices prevalent in December 2007.
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