Time to know Delhi realty sector

How is the real estate sector performing in Delhi, the capital of India? This question is quite natural since the city, being the national capital, enjoys an exceedingly significant position throughout the country and international arena. Well, Delhi has retained its position in spite of the tumultuous financial scenario worldwide on account of downturn and is hotspot in the real estate industry at this moment in time. There has been an exponential rise in the number of flats and homes in and around the city, in the recent years, and for this reason the Delhi property market is growing at a phenomenal rate. Well, there have been many favorable reasons as well.

While on one hand there has been a huge development in the city’s transport system, the other notable factors include expansion plan of 65 km-long Delhi Metro Rail and the initiation of 2010 Commonwealth Games in the capital. According to the latest survey of an internationally reputed real estate consultancy, New Delhi is both the 16th most expensive real estate market of the world and the costliest retail destination in India. What can be the trends in future therefore? As indicated by experts, India has not become vulnerable to worldwide recession and its lethal aftermath and all these have led to development in the realty sector and number of flats and homes. The demand for real estate development is likely to remain strong all over Delhi property market and this takes place owing to a huge demand from IT/ITES sector.

Let’s focus on the residential real estate market of the national capital. It is in full swing and is growing to a certain extent exponentially because of the presence of huge demand for housing from IT/ITES and foreign diplomats. Which part of the city is witnessing largest developments? Well, it is South Delhi and by now it has become the most happening residential place in Delhi property market. It has to be stated that rental values of residential properties including flats, villas and duplex houses are really at higher end.

The overall picture of Delhi’s commercial real estate sector is just the same and in this regard, credit must be given to the humongous efforts of city-based developers, builders and leading retail brands in Delhi property estate market. The combined efforts of all these have led to the generation of huge demand for commercial space in the city.

Take a note of New Delhi commercial market space. It is broadly classified into:
•Central Business District - Connaught Place
•Secondary Business District - Nehru Place in South Delhi
•Peripheral Business District - Jasola, Saket & Noida.

What conclusion can you draw from here? Delhi is becoming one of the choicest places for investors worldwide and due to the expansion of business and India’s steady growth in the international arena foremost MNCs, IT/ITES companies and corporate are busy in making large scale investments. This, in turn, is leading to the growth of a huge demand for commercial real estate space in Delhi property market. The coming years are going to witness more investments and larger numbers of flats and homes than ever before.