The shoddy development of facilities for the upcoming Commonwealth Games may have come under fire but property prices near the Games Village have seen a spike of up to 15 per cent, courtesy the infrastructure put in place for the sporting event.
According to realty consultant Jones Lang LaSalle (JLL), the National Capital has seen unprecedented infrastructure development for the CWG and especially the Eastern part of the city, where the Games Village has been constructed, got the maximum benefit.
"Residential property prices in and around it (Games Village) have been climbing steadily for over a year, and have currently reached appreciation levels of between 10-15 per cent," JLL India Chairman and Country Head Anuj Puri wrote in the firm's blog.
He said the rates at Indraprastha Extension is currently ranging between Rs. 5,500 per sq ft and Rs. 7,000 per sq ft. "Phase I and II at Mayur Vihar and Vasundhara Enclave have also benefited considerably from the infrastructure improvements that have taken place," he added.
with thanks : NDTV : link in headline for detailed news.
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