Delhi, the capital of India, is a federally administered union territory and a bustling city. It houses many government buildings and embassies, apart from places of historical interest and tourist attractions. Various Multi National Companies (MNC's) have set up their businesses here. Industrial sector is growing tremendously and all this is resulting in increasing employment opportunities. Because of this, people are moving to Delhi from all over India.
Many renowned real estate developers like Ansal Properties, DLF and Unitech have played a prime role in shaping the real estate market of Delhi. The posh localities of Delhi have experienced a lot of growth in the real estate sector. Property rates keep swinging and builders and developers invest here in high amounts and build luxurious homes, flats, apartments, commercial malls, shopping malls, world-class theatres etc.
Real estate prices in Delhi are on an upswing, for both commercial and residential plots. A huge number of malls, shopping complexes, corporate spaces have been built and many more are under construction. Delhi's real estate market is on its way up due to the developments in and around Delhi.
Property values in Delhi vary considerably depending on the area and location. For example, the monthly rental value of a 2 bedroom flat in a good locality such as Greater Kailash varies from Rs 25000-50000 per month, whereas in Rohini, the rent varies from Rs 6000-12000 per month.
However, due to the current recession customers are no longer ready to pay the high prices that property all over Delhi command. Due to which number of transactions happening in the city have considerably gone down. But Delhi properties are high on everyone's preference list.
Talking about commercial real estate in Delhi the prices are dropping. According to Delhi real estate agents the retail and office rental prices have dropped. During the last two months, in Saket (south Delhi), the rates have dropped by 30-35 per cent.
However, support infrastructure like the Gurgaon Expressway, residential integrated townships, knowledge parks, proposed international airport and railways and the DMRC providing connectivity to the NCR region is expanding the Delhi real estate market far beyond the borders of the city.
George Gonigal provides you the best and latest info on Real Estate in India. He would also let you know about Real Estate in Delhi.
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