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New Delhi, the national capital of India is one of the prime cities in the country which has witnessed the economic development plans being drafted in the Parliament house to the effects that economic growth has spurred on the real estate and other service sectors in Delhi. Incorporated as one of top three investors' choices for real estate investment in Asia, New Delhi continues to be one of the most competent and healthy competitor amongst the property markets across the region. And as investors and buyers make a beeline for acquiring the best chunk of real estate market, the finance sector in India has evolved as the possible gainers.
The banks in India which initially did brisk business with their saving schemes has now opted for the housing finance section as a more profitable business, since the real estate scenario in Delhi shows an upswing. The demand for properties in New Delhi touches new heights arising mainly due to the requirement for a large number of residential and commercial spaces as a large number of investors are seeking investments in the Delhi region or the nearby NCR areas. Delhi evolving as a popular investment destination for investors in the residential and the retail sector has lead to escalation of property prices many-fold and are still on the rise thereby making investment in the capital city of India a deal worth to be clinched.
But the bulk of disposable income generated by the employees in the corporate sector along with easy funding by every finance company in India has of late made property investments a not so formidable task. Easy loan facilities and a horde of finance companies offering some of the best deals and dipping interest rates have also been responsible for increase in Delhi real estate investments. Almost all the major financial institutions like ICICI, HDFC, IDBI and HSBC, to name a few have successful operational bases in the city making housing loans a competitive business. This competitive market has in some ways being beneficial to the consumers and if the trend continues, the real estate scenario in Delhi is bound to offer investment opportunities for buyers and developers who would want to capitalize on this growing opportunity. And if industry experts are to be believed, New Delhi is yet to see major transformation in the real estate market as the city gears up to remodel itself for the 2010 Commonwealth Games shedding its reputation of being a ‘walled city' to a ‘World City' of the future.
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