Delhi properties have never lost its sheen in global real estate market

Makaan.com

Demand for Delhi properties always remain on high because it is the national capital and its proximity to the cities of North India. Deep-pocketed buyers are looking for every opportunity available to buy a property for sale in Delhi because the properties are on the list of India’s residential address.

The value of property Delhi have increased manifold over the decades. The areas of South Delhi and Central Delhi has skyrocketed in the last few years because of the social infrastructure and planned localities. The government authorities are planning to make the city a hot real estate destination in the global market.

The national capital witnesses the demand for properties because of the migrant workers and the government offices. And because of the short supply and housing demand from the working populace, Delhi is also a good rental property market. The 1 and 2 BHK category housing units are the preferred choices of the working class as they are low in rentals and affordable. For instance, the rent of 1BHK usually ranges from rupees 4,000-5,000 per month.

On the short supply and rising demand of houses the property prices of Central Delhi has shoot up to a great extent. According to reports, property such as Lutyen’s Bungalow Zone has increased 8-fold in the past decade. Owning a bungalow in Central Delhi is desire of several prominent industrialists and business tycoons. The bungalows and private properties that lie in this area are sure to fetch not less than 100 crores because of the high demand and low supply. 

Prices of properties in South Delhi are also increasing at an alarming rate with major realty developers are coming up with luxury housing projects. A report says that Godrej Properties has inked an agreement with Southend Infrastructure to develop a luxury residential housing project in Okhla Phase-1 which is located on the road that connects Greater Kailish and Mathura road.

Residential units in Delhi that are connected to NCR are in high demand. For instance, Dwarka, Anand Vihar, Vasant Kunj, Vasant Vihar, Pandav Nagar and Mayur Vihar are some of the locations that are well connected to Gurgaon, Noida and Faridabad that are IT hubs. 

Home buyers in Delhi consider a few conditions while searching for a property or real estate Delhi such as affordability, transport connectivity and ready-to-move-in property.

With the inclusion of three more districts in NCR, namely Bhiwani, Mahendragarh and Bharatpur experts believe that it will have a significant impact on the property prices and demand for real estate Delhi.