Prices of independent floors in South Delhi rose up to 32 per cent during the January-March quarter on better demand, according to a report by Golden Growth Fund (GGF).
In South Delhi, category B colonies saw an appreciation of 23-32 per cent, while category A colonies witnessed an increase of 14-22 per cent.
In value terms, the price of floors in category A ranges between Rs 19.5-40 crore, while that in category B colonies ranges between Rs 10.65-16.5 crore.
Some of the category A colonies are Mayfair Garden, Panchsheel Park, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar and Maharani Bagh.
Prominent category B colonies are Chirag Enclave, Anand Lok, GK, Green Park, Gulmohar Park, Niti Bagh, Defence Colony, Safdarjung Enclave and Kailash Colony.
Ankur Jalan, CEO, Golden Growth Fund, said, “Category B colonies have witnessed stronger price appreciation during the March quarter, reflecting the growing depth of demand in South Delhi’s premium housing market."
“We are also seeing increasing migration of buyers from other parts of Delhi towards these locations," he added.
Given the persistent high-demand and limited-supply dynamics, Jalan said the price growth is expected to remain resilient and relatively insulated from external market fluctuations.
The Municipal Corporation of Delhi (MCD) has divided all colonies of Delhi into eight categories – A, B, C, D, E, F, G & H. Circle rates, property tax rates and stamp duty charges for property registration are based on these categories.
Golden Growth Fund is a category II Real Estate-focused Alternative Investment Fund (AIF) that focuses on real estate investments in South and Lutyens’ Delhi.
