Renowned property consultants, Jones Lang LaSalle, have said that the property prices in Delhi and Mumbai have reached to the level of 2008 and cautioned of a decline in demand if prices rise further. It also said that prices in other Indian cities will keep rising and they might touch the 2008 level in the mid 2011. According to the JLL chairman Mr. Anuj Puri, Delhi and Mumbai real estate sectors were most adversely affected during the economic meltdown and hence the rapid increment in the backdrop of contemporary healthy economy. JLL India Chief Executive Officer (operations) Mr.Santosh kumar said that prices of mid and high end flats in Gurgaon and Noida were hovering around Rs 8000-Rs 10000 psf (Per Sqaure Feet) and Rs 3500-Rs5000 psf respectively. He also gave a clear picture of the current price of apartments in central and sub-urban Mumbai as ranging from Rs 25000-Rs 30000 and Rs 9000-Rs 16000 respectively. He said that real estate will see a robust sale at the current price level and affordable housing will also register decent growth.
