Feb 28, 2024NCR Real Estate

Okhla Property Market: Exploring Real Estate Price Trends

by Godrej Properties Limited

650

2

Okhla Industrial Area (OIA), or simply Okhla, is an industrial suburb and pristine neighborhood of South Delhi divided into three phases. It is a well-developed locality connected by Railway, Metro Railway, and the DTC Bus Service. Hence, Okhla is one of the most popular areas in the real estate market and has a high demand among homebuyers. But before investing in Okhla real estate, you should also know the current property rates and price appreciation in the Okhla property market. 

Reasons to Invest in Okhla

  • Okhla has developed into a highly convenient residential and commercial area because of its reasonable living conditions and the numerous employment opportunities it offers its citizens.
  • Okhla offers various social amenities, with the best educational facilities like  GB Pant Institute of Technology, NDIM-New Delhi Institute of Management, Dev Samaj Model High School, and God’s Grace School.
  • In addition, Okhla is close to several ATMs and banks, including the State Bank of India, the Bank of India, Axis Bank, HDFC Bank, and ICICI Bank.

Current Trends in the Okhla Property Market

Okhla Market has over 159 properties, offering villas, builder floors, and apartments of various sizes, configurations, and prices. The average property rate for flats/apartments in Okhla is around INR 23,000 per sq ft. Flat prices are in the range of INR 4,350-1,12,900 per sq ft, and builder floor prices are in the range of INR 4,050 - 6,650 per sq ft. 

In terms of Okhla trend price appreciation, flat/apartment prices changed by:

  • 1.5 % (in the last year)
  • 351.0 % (in the previous three years)
  • 475.0 % (in the previous five years)
  • 364.6 % (during the last ten years)

On the other hand, builder floor prices in Okhla real estate changed by

  • 10.8 % (in the last year)
  • 6.5 % (in the previous three years)
  • 4.2 % (in the previous five years)

The present property rates in Okhla are expected to be in the range of  INR 4,080 to INR 4,718 per sq ft. However, in the last six months, a 5.5% price depreciation was seen in Okhla. 

Conclusion: Shaping the Future of the Okhla Property Market

The most recent price trends in the Okhla real estate market, including developments such as Godrej South Estate, are an excellent guide for investors or homebuyers. Understanding these trends is crucial for investors and buyers to determine the best moment to buy or sell. The current price trend suggests that purchasing and selling houses in Okhla, New Delhi, is beneficial now.


Frequently Asked Questions

Q: What are the present property rates in Okhla?

Ans: The present property rates in the Okhla property market are around INR 4,080 to INR 4,718 per sq ft.
 

Q: What are the top price trends in Okhla?

Ans: The starting price of Okhla properties is INR 1,333 per sq ft. The most expensive residential property is listed for INR 15,00,00,000. Other premium projects are available at  INR 40,983 per sq ft.

Previous Post
Next Post