Builders expect rise in Delhi-NCR property prices in FY19

Builders expect rise in Delhi-NCR property prices in FY19

- in Industry

New Delhi, April 9 : A total of 75 per cent of real estate developers expect property prices to rise in Delhi and the National Capital Region (NCR) in the financial year 2018-19, a survey by online trading platform OLX showed on Monday.

“Seventyfive per cent of the builders expect the property prices to increase in 2018-19, indicating revival of Delhi-NCR’s real estate market,” a statement from OLX said here quoting the survey.

The survey was conducted among 200 developers and property consultants in Delhi, Gurugram, Faridabad and Ghaziabad, it said.

The OLX Delhi-NCR Realty Survey attributed the optimism regarding prices to expectations among builders that regulatory developments will improve transparency in the system, eventually boosting the confidence of buyers and sellers at large.

Commenting on the survey, Chief Operating Officer of OLX India Irwin Preet Singh Anand said: “The year 2018 could possibly be the year of come back for the real estate as we see significantly higher participation of property buyers.

“Given the positive sentiment in the market, more and more individual and business sellers are flocking on our platform to benefit from the growing demand,” he said.

The report also said that around 55 per cent of the developers in Delhi-NCR were planning to go ahead with affordable housing projects (priced less than Rs 40 lakh) as part of their portfolio.

“Of the inquiries received by property consultants through online real estate portals, one third were for affordable housing projects,” indicating rising demand in the segment, the statement said. IANS

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