The fame of Delhi dates back to prehistoric days, especially the 6th century BC, when the city, for the first time, rose to power. Ever since the city, located on the banks of the river Yamuna, has enjoyed a coveted status in the Indian scenario, not to speak of during the reigns of Delhi Sultanate and Mughals. However, nowadays, the name Delhi is often also used to include some urban areas near the NCT, as well as to refer to New Delhi, the capital of India, which lies within the NCT, a federally administered union territory. All these indicate that Delhi is playing a major role in the political and financial life of India than ever before.
Even in the real estate scenario of India, Delhi is playing a greater role and is also regarded as the capital of the pertinent industry. What makes Delhi so prominent? Is this the fallout of its political significance? Nevertheless, experts differ in this respect and consider that the city’s own competence has accomplished this esteemed rank. According to fresh studies, Delhi property market is growing at an outstanding rate on account of various factors. These include humongous improvement in the transport system, expansion plan of 65 km- long Delhi Metro Rail and the initiation of 2010 Commonwealth Games in the capital.
Take of instance a recently held study of a well-known real estate consultancy. According to it, New Delhi is the 16th most expensive real estate market of the world and along with this, it is the costliest retail destination in India. What is more, as per the study, the city is going to retain this position in the coming years too and the demand for real estate development will surge across Delhi property market. Reason? The mounting demand from IT/ITES sector will play the leading role.
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