Post demonetization, in the last 10-12 months there has been and a steep rise in property rates and following the trend Gurugram has also seen an unprecedented rise in the plot rates. As of today this hike is limited to the plot rates and hasn't affected the floor and apartment rates as yet. There have been 25% to 40% rise in plot rates all over Gurugram.
This rise in the price of the Plot has been mainly attributed to the approval of 4th Floor and increase in FAR to 198%, therefore those persons who were in the business of constructing floors in Delhi found Gurugram attractive. You will see the spike in the construction activities throughout Gurugram.
It can be easily seen that least developed Sector-57 of Gurugram has seen rampant constructions and plot rates have increased from Rs 50,000/- to 95,000/- per sq yards in last 6-7 months.
Now the moot question is that what happened to the rates of Independent Builder Floors in Gurugram have they remained stable or increased?
During the last 2 years, the rates of the plot haven't increased in the magnitude of the plot rates, rather they have been on the same slab for the last 2 years. The main reason which can be attributed to this that builders who purchased a plot at cheaper rates are still earning the same or more, as compared to the one who has started building floor after buying the plot at increased rates. More or less the current inventory is being sold at the same rate as it was 2 years back (marginal increase can be seen at some places).
What will happen the rates of Independent Builder Floors in coming days?
It is the simple age-old concept of demand and supply which will ascertain the rates of plots, once the inventory of those builders who procured their plot prior to this hike is sold, the builders who are indulging into constructions of new Independent Builder Floors will be selling their inventory at the prices proportionate to the plot prices.
Comparative Study of the Plot rates and Independent Builder Floors during last year.
Location
|
Plot Size (sq yards)
|
Rate of Plot
|
BHK
|
Rate of Floor
|
||
1 yr back
|
Today
|
1 yr back
|
Today
|
|||
DLF Phase 1
|
270
|
1.35L
|
1.50L
|
3 BHK
|
2.10Cr
|
2.25Cr
|
DLF Phase 2
|
215
|
1.35L
|
1.65L
|
3 BHK
|
1.60Cr
|
1.90Cr
|
DLF Phase 3
|
215
|
1.25L
|
1.50L
|
3 BHK
|
1.40Cr
|
1.70Cr
|
Sushant Lok-1
|
215
|
1.10L
|
1.30L
|
3 BHK
|
1.10Cr
|
1.40Cr
|
South City-1
|
240
|
1L
|
1.20L
|
3 BHk
|
1.30Cr
|
1.55Cr
|
South City-1
|
340
|
90k
|
1.15L
|
3+1BHK
|
1.80Cr
|
2.30Cr
|
Sector -45
|
204
|
85K
|
1.10L
|
3 BHK
|
95L
|
1.15Cr
|
Sector-46
|
204
|
95K
|
1.25L
|
3 BHK
|
1.Cr
|
1.10Cr
|
Sector -47
|
204
|
85K
|
1.10L
|
3 BHK
|
95L
|
1.10 Cr
|
Sector -57
|
204
|
75K
|
1.05L
|
3 BHK
|
80L
|
95L
|
Vipil World
|
360
|
65K
|
90K
|
3+1BHK
|
1.60Cr
|
1.70Cr
|
Uppal Southend
|
311
|
85K
|
1L
|
3 BHK
|
1.30Cr
|
1.60Cr
|
South City-2
|
240
|
85K
|
1L
|
3 BHK
|
1.15Cr
|
1.35Cr
|
Malibu Towne
|
240
|
1L
|
1.40L
|
3 BHK
|
1.45Cr
|
1.65Cr
|
Sector -57
|
263
|
70K
|
93K
|
3 BHK
|
1 Cr
|
1.10Cr
|
Buy it now, else you will miss the bus….
High price and subsequent high maintenance cost in private builder's apartments and builder floor is attracting the home searchers towards as Independent Builder Floors of HSVP's Sectors and Private Colonies. It highly recommended that those who are in dual mind whether to wait for a falling price or buy at current price should buy decently constructed Independent Builder Floors anywhere in Gurugram. Local administration is giving a push to basic infrastructure of Gurugram and buyers are advised to get into this rush bus else they will miss the bus.
Disclaimer: The opinion of the author is based on personal learnings. Please re-confirm rates before buying or selling properties.
Disclaimer: The opinion of the author is based on personal learnings. Please re-confirm rates before buying or selling properties.
The Author of this article Pramod Singh is into real estate business since last decade. He can be reached at +91-7000042762or +91-9899790003 for consultations and assistance. Kindly write your query in comments.
