Delhi-NCR property prices unchanged in Q1

Property prices in the National Capital Region (NCR) were largely unchanged during the first quarter (April-June) of the financial year 2019-20 as compared to the previous quarter, a report by 99acres.com showed on Thursday.

The report titled “99acres Insite Report” said that the realty landscape in Noida and Greater Noida remained largely stable in April-June 2019. Commenting on the report, Maneesh Upadhyaya, Chief Business Officer, 99acres.com, said, “Average weighted prices of residential apartments in Delhi-NCR remained unaltered, QoQ, whereas rental 'asks' surged by 3 per cent in April-June 2019 vs April-June 2018.” 

Ask price represents the minimum price that a seller is willing to receive. A trade or transaction occurs after the buyer and seller agree on a price. “The current unsold inventory in the city stands at around 1.80 lakh units with the Noida and Greater Noida belt claiming the maximum share. Dwarka Expressway, Sohna Road, New Gurgaon and Noida-Greater Noida Expressway remained the cynosures of real estate activities, reporting the maximum number of new launches and housing sales,” Upadhyaya said.

Motia Huys in Peer Muchalla

Tricity-based developer Motia Group announced the launch of Motia Huys residential project earlier this week. The new project will come up in Peer Muchalla, adjoining Sector 20, Panchkula. 

Spread over an area of 2.5 acres, Motia Huys will have147 units on 49 plots. The project will have 2 & 3 BHK independent floors and a shopping complex. Speaking at the launch, L.C Mittal, Director, Motia Group said, “The total project cost is estimated at about Rs 65 crore and the same would be funded through internal accruals.” The units are priced in the Rs 36 .5 lakh to Rs 44.5 lakh affordable price range. According to company spokesperson the project will be completed in 18 months. — TNS