Property Prices in north India

Property has always been in demand in all countries. Industrialisation in free India began in Mumbai and the north, the South too had its fair share of growth. Chennai has always been an important port city with major industries. Coimbatore was known as the Manchester of the East, with its spinning mills. Bangalore made a mark on the national GDP chart with its software sector.For industrial development, real estate is the first and basic requirement. It is only when land with civic infrastructure is made available that development follows. Commercial development will fuel residential projects. Here's a look at some factors pushing demand for land in major southern cities: Bangalore: Land with clear and marketable title is difficult to come by in the central areas. Defence and educational institutions hold the bulk of the land in central areas. Non-availability of large land parcels 100 acres and more close to the city centre is pushing many to Tier Two cities and other destinations. The large number of people coming to the city, thanks to IT opportunities, good weather and a cosmopolitan culture, are pushing up land prices here.Land prices in the city vary quite heavily. In the central business district, it is around Rs 25,000 per sq ft -commercial. Residential locations close to the city centre command around Rs 10,000-20,000 per sq ft. Land around the Outer Ring Road is between Rs 3,500 to Rs 8,000 per sq ft - residential and commercial. Chennai: Software technology parks and residential development are driving demand for land in Chennai. The recent foray of automobile giants has contributed to rising prices. Land prices in the city centre - residential and commercial - are between Rs 15,000-25,000. The tech belt - Old Mahabalipuram Road - has land values between Rs 6,000-8,000. The suburbs around have land values between Rs 2,000-3,000. Hyderabad: Hyderabad as a commercial base caught on with software majors and MNCs thanks to its upgraded civic infrastructure. This city, with its large talent pool available, has been an attractive destination. Commercial land prices in the city centre are around Rs 10,000-15,000, while it is between Rs 7,000-10,000 for residential plots. Land in localities around the IT belt costs Rs 5,000-10,000.Source: The Economic Times

Connaught Place has the 8th Highest Rentals in the World

“Centrality has always remained the key to Connaught Place. The area is touched by the high-profile Lutyen’s Zone. It offers easy access all parts of the capital, be it the North, East, West or South Delhi, as also NCR towns like Gurgaon , Faridabad, Ghaziabad and Noida,” says Shikha.
Besides, easy road connectivity, the area is well connected through rail network with the New Delhi Railway Station in its immediate vicinity. CP offers the finest of hospitality; the best of hotels, institutions, libraries, markets…. the list is endless. You name a service and it is here. The area is also home to the rarest and finest of international chains and outlets.
Lalit Tekchandani, Manager (Corporate Services), Jones Lang Lasalle (JLL) Meghraj, a real estate consultancy firm, says while the Metro rail has fuelled the market’s rental and capital value, it has also gained value because of slow supply of prime office space in NCR. Besides, a number of establishments came here in the wake of sealing carried out by MCD at unauthorized locations.
Delhi Metro came as a godsend for Connaught Place. Metro has added to the area’s picturesque appeal and also pushed up office space rentals. “Metro, has, undoubtedly, enhanced the landscape of the region. People from all areas can come to the place without any hassles.
Added features like Central Park glorify the complete package of the market. Wide roads and beautification have also done their bit in transforming the area that once strived hard to keep pace,” says Sharma. Due to all the factors, realty prices of the region shot up by as much as 30 percent