Realty Deals: Big-ticket City Deals

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A residential apartment covering an area of approximately 2,000 sq ft located in Malabar Hill was leased for a monthly rental value of '4,75,000 per month. The apartment is situated in a high-end residential pocket. The rental values in the area for high-end properties have been in the range of '4,50,000-8,00,000 per month and have remained stable over the past few months, and the said apartment is well within the current prevalent range.

Malabar Hill is one of the most prominent residential boulevards in Mumbai, with high demand due to its strategic location, excellent social infrastructure and connectivity to other prominent locations of the city. The economic recovery in the past few months has led to renewed demand for rental residential units over the past few months. However, given the still-prevalent price sensitivity, landlords have been maintaining the rates. Going forward, the rentals are expected to remain stable at the same levels.

Chennai

A residential unit admeasuring 3,500 sq ft was leased at a monthly rental value of '1,40,000 per month. The unit situated in Boat Club is well within the current rental value of '80,000-2,50,000 per month commanded by high-end residential properties in the location. Boat Club is one of the most sought-after locations by senior executives of corporates and expatriate community in the city due to its central location, easy accessibility and also its social value.

Apart from the fact that it is one of Chennais original premium residential areas, Boat Club has got its support social infrastructure in place, giving residents of the location a fulfiling experience. With constricted supply and increasing demand, post the recent economic slowdown, the location had seen an increase in rental values. In the past quarter, however, rental values have remained stable on account of lower number of transactions. Values are expected to remain stable in the short-to-medium term.

Hyderabad

A residential unit spread across 4,770 sq ft located in Shaikpet, Hyderabad, was sold for '3,50,00,000. The villa commanded an average price of '7,338 per sq ft. This is just marginally higher than the current values for high-end residential units in this location that command, on an average, a rate of '5,700-7,000 per sq ft. It is situated close to Jubilee Hills, one of the established locations in the city.

Still under construction, the property offers wide open location, with landscaped gardens and promenades. The location has seen renewed interest from various end-users and investors and a growth of approximately 3% over the quarter and approximately 15% growth over the previous year in average capital values. Given the current spurt in demand, the location is expected to see a further strengthening of capital values.

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by: amitsinha0002

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