The property market in Delhi has withstood the tests of time. During recession the property market had undoubtedly backslid a bit, nevertheless, it bounced back with increased vigor. The ill-effects of recession seem to have faded away. And the real estate market in the country and in all major cities of the country is looking up.
The fact that there is an inflow of FDI or Foreign Direct Investment also contributes to the rising demand of the property market in Delhi. Delhi and the National Capital Region in particular have witnessed tremendous growth in all areas of the economy over the last couple of months.
Delhi, the capital city of India ranks among one of the property markets in the world to have the best possible options in real estate market. The city has residential as well as commercial property that is affordable. And this very feature of affordability compels the common man to explore the various areas of the real estate market in this city.
Property market in National Capital Region
The property market in Delhi has grown drastically also due to the reason that the adjoining areas have grown simultaneously. As far as Noida or New Okhla Industrial Development Authority, Gurgaon, Ghaziabad, and Faridabad are concerned, these are hub for IT and ITES.
Noida and Gurgaon in particular are sometimes referred to as “outsourcing hubs”. There are many multi national companies that outsource their work to the workforce in these areas.
With the increase in scope of employment in various offices, the need for accommodation is felt even more. As such, most of the property developers and builders are concentrating on this area.
Rapid growth of IT companies and also the ITES companies in the heart of the city of Delhi has also contributed immensely to the growth of the property market in Delhi. To meet the ever growing needs of the people who migrate to this place for employment, residential as well as commercial office spaces are coming up.
Housing complexes in Delhi have modern amenities
Interestingly, the housing and the commercial property market in Delhi has grown almost simultaneously. The houses/apartments/bungalows that are being constructed in the different areas of the Indian capital city are equipped with all the modern amenities.
Some of the common features of the new residential complexes that are coming up include the following –
- Swimming pool for adults
- Swimming pool for children
- Massage center
- Yoga and Meditation center
- Squash courts
- Lawn tennis court
- Table tennis court
- Badminton court
- Community hall
- Guest lounge
- Movie hall
- Lift etc
Affordability in property market in Delhi
The builders and developers in the city have realized that if they want to get optimum returns, they have to tap the people belonging to the lower income group too. As such, apartments at a lower cost are being constructed in many places in the city.
Selling low cost homes doesn’t necessarily mean that the quality of these homes is not good. One way that the builders and developers in Delhi lower their overhead cost is by using local material. This reduces the transportation cost to a great extent. As such they are able to sell the apartments at a lower cost to the common people.