The entire nation has just recently emerged from the hard hit of demonetization applied last year. National economy has reaped mixed benefits due to this step taken by PM Shri Narendra Modi. While many sectors rapidly received from the troll, the hard-hit property and real estate sector is still experiencing a rollercoaster ride. Property index for Jan-March 2017 reveals that overall property market has witnessed a downward trend across the National Capital Region (NCR). However, few areas in Delhi, NOIDA, Gurgaon and Faridabad have started showing positive outlook post the demonetization saga.
Out of all the NCR cities, Faridabad is showing a trend of quick recovery in some of the areas; however, majority of the areas are still experiencing a hit. There are as many as 24 localities in Faridabad that have reported a better price listing, while 4 of them are still witnessing a downward trend. Amidst this mixed tendency, one good trend being noticed is that the annualized rental yield in Faridabad is gradually witnessing a growth rate of 3.69%. This has called for property owners who have, for say, a 2 BHK apartment for rent in Faridabad to be optimistic in the coming future. Though the growth index is not that strong, but it is expected to take higher side in the coming days. This trend for 1 BHK apartment for rent in Faridabad is not that strong at the moment being the fact that their base rental value is at a lower side always.
This is a hope that property prices will strongly improve in the future. The current annualized property price at present is moving at -6.64%. These trends will definitely help investors take an informed decision to know whether it is appropriate time to buy or sell properties in Faridabad. Industry experts have to say that if you are planning to buy property in Faridabad, then you must buy at a time when the market is correcting. Further to help investor take a better decision, here we have presented a summary of the latest trend of property market in Faridabad.
- Total number of properties listed for sale in the city: 9181
- Number of localities showing an upward trend in the city: 24
- Numbers of localities showing a downward trend in the city: 41
- Starting price of salable property in the city: ₹ 65830
(This includes properties of all sizes and categories across the localities)
- Average price range of properties in the city: ₹ 48.88 Lacs
- Most expensive property listed in the city: ₹ 180.00 crore