Delhi Real Estate 2009

New Delhi, the capital city of India, has become one of the hotspot real estate destinations in India.  There is a great demand for both commercial and residential properties in Delhi real estate due to presence of multinational companies, corporate houses, media houses, IT, BPO, KPO and host of others.  The real growth drivers of real state in Delhi are NRIs and working population. They prefer to settle in Delhi due to the fact that it has state of art infrastructure, proximity to other cities like Noida, Gurgaon, Faridabad, Ghaziabad and other new developments that in turn increase the demand of commercial and residential properties overall.

The recent study estimates that Delhi is one of the investor’s choices for real estate investment in Asia. Thus, the large number of real estate companies is flocking to the city to construct both residential and commercial complexes. It is evident that Delhi real estate is growing at a phenomenal rate in India.

Delhi Real Estate Trend

Delhi real estate segment is undergoing a lot of transformation due to government initiatives like relaxation in foreign direct investment policies. With strong economic growth, revival of financial markets and investor friendly government policies are the major factors that boost demand in Delhi property market. The following are the new projects that are sprouting in Delhi property market:

• 65 km-long Delhi Metro Rail’s project
• Common Wealth Games 2010

The factors like easy availability of home loans, rising income levels and global lifestyle that increase residential property demand in Delhi real estate. The real estate developers are luring the customers with different alternatives of housing such as flats, apartments, studio apartments, condominiums, villas and luxury homes as well depending on the different lifestyle of the buyers in Delhi property market.

In addition to this, Delhi is witnessing other infrastructural developments in the road and transport system with a six lane National Highway will be constructed to join New Delhi and other extension areas like Noida, Faridabad, Ghaziabad, and Gurgaon. This in turn will help the working population to commute out of Delhi for work and make Delhi as the preferred residential destination due to its modern outlook.

Delhi commercial segment is also witnessing a burgeoning growth due to the following factors:

• Industrial development
• Organized retail
• IT/ITES segments
• Auto sector etc.

This has witnessed the upsurge in prices of commercial property in the city. DLF, Unitech, Omaxe, Parsvnath, Ansal etc. are the leading real estate developers in Delhi property market. Since Delhi is witnessing a rapid infrastructure developments, these players play a pivotal role in making Delhi as one of the most modern and cosmopolitan cities of the country overall.

Conclusion

New Delhi is one of the most sought real estate market in the country. And also, it’s adding different tags to its credentials like:

• Most expensive city
• Costliest retail destination

The source of real growth drivers in Delhi property market is from IT/ITES sector, settlement of global diplomats and industrial and retail growth. And also, revival of global economy, fall in home loan interest rate and infrastructural developments are key factors in creating demand in Delhi real estate market- both commercial and residential space on a whole.