Residential segment in Delhi-NCR rose 36 per cent in 2010: Cushman & Wakefield

After a year-long lull, the residential property segments in Delhi- NCR and Mumbai saw a sharp increase by up to 36 per cent during 2010 on the back of good demand.

Realty consultant Cushman & Wakefield (C&W) said,  prices in the high-end segment in Gurgaon were up 36 per cent, while in central Mumbai, the mid-segment saw rates firming up by 15 per cent during the year.

"The residential segment in select micro markets of NCR witnessed unprecedented growth during the year with significant increase in rental and capital values... This can be attributed to the rising interest from the end users and economic revival at large," C&W India director (residential services) Shveta Jain said in a statement.

The rentals scenario in Delhi-NCR has also seen an upswing during the year by up to 20 per cent with the south central region of the city registering the highest appreciation.

According to the consultant, prices in the Mumbai market increased due to "large-end users and investor demand for mid range housing segment".

However, according to the report, prices in these markets are likely to see some corrections due to huge supplies coming up in the next year.