Property Prices In Delhi Are Fuelling Up

The property market in India has become one of the biggest sectors in India always buzzing with activity. It was hit by the global fiscal flu that caught the economies of the world for eighteen months but has been on the revival path from last two quarters. The real estate in Delhi, Mumbai and other metros like has become unaffordable as prices sky rocket owing to the supply deficit.

Delhi, the national capital, is the hottest investment destination in India today followed by metros and tier-II cities. The prices of property in Delhi have become exorbitant with it emerging as the 11th costliest property market in the world in a survey conducted by global realty consultant CB Richard Ellis (CBRE). Delhi is the nerve centre of all political, commercial and cultural activities and preserves its old-world charm while being the centre of most modern achievements of the country. Despite its limitations in terms of space, the city offers world class commercial and residential property- be it apartments, retail space, builder floors or independent houses. Even neighboring areas of the city like Gurgaon, Noida, Greater Noida, Ghaziabad and Faridabad are also benefiting with large-scale property developments in Delhi.

One of the reasons of the high property prices in Delhi is that it is home to numerous politicians, bureaucrats, industrialists and top notch corporate professionals. With them opting for high priced properties, the real estate in Delhi is becoming too expensive for the common middle class. Along with this, whenever new projects come to the city, the property rates of the surrounding areas begin to grow automatically. The introduction of Metro trains has been one of the primary reasons for hike in property prices all around East, West, North & Central Delhi and even in Noida. It is soon to extend to South Delhi and Gurgaon bringing in higher value to the already posh area. Apart from that, the forthcoming event of Commonwealth Games in few months from now will bat in favor of high realty values in both Delhi and NCR.

Real estate in Delhi is becoming an investment hub not only for nationals but also for NRIs and foreigners. With the government allowing FDIs in Indian realty sector, another dimension for growth has been added, fostering up the prices. Property buying is the result of either habitation/ need based or for investment purposes. The positive growth of the economy and an increase in purchasing power or disposable income of the people has also been stimulating the property rates. In addition to all these factors, the availability of home loans and easy EMIs spanned over a long period of time encourage more and more people to buy property in Delhi. This raised the demand while intensifying the shortage in supply of the property in the capital city.

Currently, Delhi real estate is focusing on two segments-residential and retail. Affordable housing is the buzzword in the property sector while retail is flourishing at its best all around the country. Residential property in Delhi is especially a favorite with many for both buying and investment purposes. The concept of quality housing is also doing rounds with more and more developers offering affordable living spaces of international standards. Not only have the property values increased, even rentals in Delhi have started burning a bigger hole in pocket. With growth in mall and multiplex culture, retail realty in Delhi is also multiplying manifold.

The real estate boom in Delhi is sure to continue for several years to come as it will witness further rise in the construction activities both by domestic and foreign players.

Please install Adobe Flash Player First...

Comments

Releated Articles

California Vehicle Insuranc 276 views	Updates Of Maruti SX4 188 views	Get a Good Deal on a Pre-Ow 319 views	5 Important Things to Know 411 views
How to Find the Best New Ca 182 views	You Decide The Car Shipping 154 views	A Step by Step Guide to Fin 216 views	Truck Grilles - For Style U 97 views
Denali Grille - For Style U 123 views	Fiberglass Hood Scoop - For 136 views	Mobility Scooter Maintenanc 243 views	Mustang Hoods - For Style U 92 views

CATEGORIES

Last 5 comments All

TAGS All

STATS

Advertisement