Delhi property rentals have gone up by 12 per cent on an average in Delhi and NCR in the April-June period of the current year compared to the same period last year, real estate portal report has said.

The report, which took 3 BHK flats into consideration, said the highest appreciation during the period in South Delhi was seen in the Saket area, where rentals increased by 31 per cent followed by South Extension, Safdarjung and Malviya Nagar by 24 per cent, 22 per cent and 21 per cent, respectively.

Vasant Kunj and Dwarka most affordable
“Both Vasant Kunj and Dwarka seem to have emerged as the most affordable rental destinations in Delhi for the middle income group,” it said. Key localities in East and West Delhi have seen an upward trend in rental prices with areas like Patparganj, Vasundhara Enclave and Mayur Vihar witnessing a 12 per cent increase in rental values during the April-June over the same period last year.

Delhi rental prices set to increase further
Localities like Vikaspuri and Janakpuri of West Delhi saw 13 per cent and 8 per cent increase in rentals, it said. Within the Central and North Delhi, Connaught Place has seen an 8 per cent rise in rental prices, while Rohini and Pitampura saw a 37 per cent and 35 per cent increase. The report said that in the future as well rentals would only escalate. “Since there has been no new supply coming in immediately in the region, property in Delhi rental values will continue to escalate on a yearly basis,” it said.

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Tags: Delhi property, Delhi property rentals, NCR property

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