Real Estate Market Downturn Across Major Indian Cities
The Indian real estate landscape is currently experiencing a substantial decline in transaction volumes and property values across multiple metropolitan regions. Recent analyses reveal significant price corrections in residential markets:
Market-Wise Price Reductions
National Capital Region (NCR)
- Gurgaon: Witnessed a dramatic 15 percent price reduction
- Noida: Plot rates decreased by approximately 20 percent
- Greater Noida:
- Previous plot rates: Rs 55,000-60,000
- Current plot rates: Rs 40,000-45,000
- Indirapuram:
- Flat rates dropped from Rs 3,000-3,200 to Rs 2,500-2,700 per square foot
Prime Delhi Localities
Several prestigious neighborhoods have experienced price corrections:
- Friends Colony
- Maharani Bagh
- Greater Kailash (GK) I & II
- Prithviraj Road
- Hauz Khas
These areas have observed price declines ranging from 5-10 percent, indicating a widespread market softening across residential segments.
The comprehensive market analysis demonstrates a consistent trend of reduced property valuations, reflecting current economic uncertainties and potential shifts in real estate investment dynamics.