Delhi is fast emerging as one of the most preferred Real Estate market in the country. The infrastructure development of Delhi has gained further impetus due to occurrences of upcoming Commonwealth Games.
The real estate scenario of Delhi is thriving by leaps and bounds with thanks to large scaled developments going along such as metalled roads, suspension bridge across river Yamuna, development and regular intensification of Metro, and much more. The occurrence of Commonwealth games has given a great impetus to all these developments.
Delhi is India’s capital city and an ever growing metropolis. The National Capital Territory of Delhi is spread in 1483 sq. km. Among the leading residential colonies in Delhi are Dwarka, Greater Kailash, Defence Colony, Lajpat Nagar, Kalkaji, East Of Kailash, Saket, Safdarjang Enclave, Vasant Vihar, Chittaranjan Park, Panchsheel Enclave; Vasant Kunj, New Friends Colony, Alaknanda, Hauz Khas, Vasundhara Enclave, Panchshil Park, Paschim Vihar, Malviya Nagar, Green Park where property market is very hot.
More and more commercial properties are also getting absorbed in Delhi NCR market. To some extent, rents are under pressure in Noida and Gurgaon because there is enough supply of commercial properties that are waiting to be absorbed by the market. In main city Delhi, rentals will stay high owing to the limited supply in the Central and suburban business districts.
Service Apartments are catching the fancy of visiting foreigners, mostly the MNC crowd who opt for a longer stay for business purposes and do not want to exhaust money on luxury hotels. A real estate agent added, “Service apartments are a good investment as it gives higher appreciation and returns than residential apartments”
In Delhi, the emerging areas of high property action will be the 150-metre road stretch that is connecting Gurgaon to Dwarka – especially the sectors 103-111 areas. Though currently underdeveloped, this area will shine when the ongoing residential projects reach completion in 2-3 years. Consequently the property appreciation will be phenomenal.
“In terms of new supply for properties into the market such as builders floor, society flats, DDA flats, plots, Commercial and Industrial spaces etc Rohini is a good location’’, affirms a property agent.
The new properties in Delhi’s real estate are trying to grow vertically and Mumbai type skyscrapers are coming to Delhi too. The Kathputli Colony in west Delhi’s Patel Nagar, will house the capital’s tallest building. In 190metres of height and 54 floors, Raheja Phoenix will be Delhi’s first skyscraper. Parsvnath Developers is also coming out with 20 plus floors in two of its projects. The La Tropicana and Parsvnath Paramount projects at Civil Lines and Subhash Nagar will have more than 20 floors. Leading developer DLF is also planning 20-odd floors in its Greater Kailash-II and Moti Nagar projects.
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