Gurgaon: Sushant Lok – Now and Then

Delhi NCR

Sushant Lok, a township built by Ansal API almost 20 years ago, has come a long way since then. Being one of the first townships in Gurgaon, it became a sought after residential location the moment it started selling off. Today, the township is nearly 90-95 per cent occupied and there is still scope to accommodate a few more families, clearly indicating its massive expanse.

Over the years, Sushant Lok has not only grown in terms of its occupancy rate or the number of residential developments but the township has also undergone an exponential price appreciation. According to the data with MagicBricks.com, capital values in Sushant Lok have appreciated by almost 234 per cent since 2006. Manoj Khatri of KN Realty Ventures says, “Capital values in Sushant Lok have been through various phases. A major hike happened during 2005 and 2007 when the metro was announced. This was when the retail market was also growing in Gurgaon and the investors started turning out in large numbers.”

“2008 to 2009 saw the market going down due to the global recession, however, it picked up by 2010 when the investors started coming back, giving another thrust to the market,” adds Khatri.

The capital values in Sushant Lok have risen from Rs 20,000 per sq yd in 1993 to almost Rs 1.5 crore per sq yd in 2013. Khatri says, “Initially, the township sold plots where the buyers started building their independent houses. The concept of builder floors came in about a decade later. Today, a builder floor costs anywhere between Rs 1.5 and Rs 4 crore. An independent house that must have cost just Rs 80 lakh -1 crore then, is now valued between Rs 4 and Rs 13 crore.”

Deepak Kumar of DNV Properties says, “Sushant Lok is a specimen of world class construction. Investors who realised its potential in time have benefitted to a large extent. Being located at a distance of just 15 km from IGI Airport, it is one of the finest locations in Gurgaon. It provides a host of facilities for luxurious lifestyle. The establishment of various shopping malls, connectivity by metro and its proximity to South Delhi attracted many people to settle here.”

Shradha Goyal, MagicBricks.com Bureau

sourcE:- http://content.magicbricks.com/gurgaon-sushant-lok-now-and-then/

Will property prices in Hyderabad remain affordable?

Amidst the long period of political uncertainty over Telangana issue, it was the presence of IT/ITeS industry that kept the real estate market of Hyderabad alive. Now that the issue is over and Hyderabad has been declared to be the common capital of both Andhra Pradesh and Telangana, the real estate sector in the city is expecting a major transformation – not in the short term though.

Property prices in Hyderabad are far less, compared to other metros such as Delhi, Mumbai and Bangalore. As per MagicBricks.com research, the average capital values of residential properties in localities such as Miyapur and Kondapur range in between Rs 2,500-Rs 4,000 per sq ft. Thus, you can expect a good 1,000-sq ft apartment in Rs 25-40 lakh. It is not that these localities are lagging behind or are situated far away from the city centre. They are among the top residential locations in Hyderabad, and enjoy decent physical and social infrastructure.

“In Hyderabad, property prices have moved very slowly as compared to other metros in the country. The buyer sentiment remained low and investors stayed away from the market due to political uncertainty,” says Afaque Ahmed, a city-based realtor.

Perhaps the lack of interest from the investor segment proved to be a blessing in disguise for the end-users. Properties are still affordable and price levels are moving realistically. In fact, as per MagicBricks.com research, the top localities such as Begumpet and Madhapur witnessed a drop of as much as seven per cent in capital values of residential properties, in the Jan-Mar 2013 quarter.

“Presence of active investors is good for real estate developers, but people who wish to buy a home for themselves have to bear the brunt of it. That’s what has happened in other metros where property prices keep rising for no major reason,” says Rajeev Kalra, a property dealer.
Meanwhile, now that the Telangana issues has been sorted out and the city will also be receiving Metro Rail, it will be interesting to observe whether Hyderabad remains an affordable, end-user driven market or becomes an investors’ heaven.

source:- http://content.magicbricks.com/will-property-prices-in-hyderabad-remain-affordable/