Vertical Development May Be Needed To Tackle Land Scarcity In Delhi NCR

Delhi Property at Makaan.com

Real estate in Delhi NCR is the most popular destination for investment in India real estate but in the past few day the areas has seen unprecedented rise in property prices. Real estate Delhi NCR has always invited the interest of the elite. Earlier the capital city was known to afford affordable properties in Delhi NCR but now the scenario seems to have changed as the city now faces a land scarcity. Properties in Delhi NCR be it a flat or a bungalow or an independent floor is now virtually unaffordable. Earlier the DDA used to come up with affordable housing options in real estate in Delhi NCR but with each passing year the quality of construction offered by the housing authority is dropping. 

Many people attribute the rise real estate Delhi NCR to black money transaction and land scarcity but the truth is the city could not match up its scale to rapid urbanization. This has led to land scarcity due to more demand and less supply. Even after the development of satellite cities of Noida, Ghaziabad, Greater Noida, Gurgaon, Faridabad, etc the prices of properties in Delhi NCR are spiraling out of control. The clusters developed by the housing authority are not enough to fulfill the housing needs of the general public. Although infrastructure wise realestate Delhi NCR fares well but there is simply no land left in the capital city of India to invest in. Although many people argue that vertical development may be the way forward in the coming few years. It may be noted that in certain localities construction is not allowed beyond four floor as Delhi falls in highly sensitive seismic Zone. But currently it seems that vertical development may be the only way forward for handling land and housing woes in the New Delhi region.