Delhi Property Infographics

New Land Pool Policy to Create Alternative Markets for Delhi Property Hunters

Delhi Property at Makaan.com

With the announcement of Land Pool Policy by DDA, property Delhi is going to witness a new chapter of realty development. Under the policy, DDA would be able to vacate 70,000 acre of land acquired from farmers and owners. The land shall be used for creating highly developed residential spaces. Under the plan, about 100 residential projects are expected to come into vogue, and this will, in turn, see the development of about 14 lakh residential units.

Areas like Ghitorni, Chattarpur, Najafgarh, Massodpur, Dwarka, Mehrauli shall see the execution of these projects. Peripheral areas of Rohini and Najafgarh have also come under the ambit of this policy. Most of these regions are largely uninhabitable currently with almost no or little commercialization having taken place. As the plan is brought into action, one will see the transformation of these areas, in the time to come. This would be a good boost for Delhi property market, which has become almost stagnant due to extortionate rates and low demand. With Pool Policy coming into action, a new Land Pooling Cell shall be brought into existence to oversee the execution of this mega project.

 The owners of real estate property in Delhi who shall agree to pool their land shall get 40-60% of the developed land in return. For owners of land above 20 hectares, out of the returned 60% developed land, 40% will have to be used for residential purposes. For the owners contributing to land less than 20 hectares, 43% out of the returned 48% shall have to be used as residential spaces. As the policy comes into action, the land rate in the earmarked villages shall increase substantially. DDA has identified 200 such villages.

The areas marked for development shall act as alternative markets for property Delhi, which is, otherwise, known for its colossal price rates.

Property in Delhi: Prices All Set to Correct in the Coming Months

Delhi Property at Makaan.com

While every now and then, our talks about property in Delhi are highly focused on an exclusive topic: the prices in the city. Here too, I am going to have a few words about the ongoing rates in the capital. But this time, I am not going to rant about the skyrocketing rates, the reason being that these are going to see a steep fall in the coming months. As per the Jones Lang LaSalle report, the prices of the Delhi's residential properties are all geared to see a downfall. The main factor behind this is that the number of inventories lying vacant has reached a high value.

It can be seen like this: the prices kept on escalating year after year. The developers made it sure that the rates rose steeply, and that they did not correct. They, by creating an artificial demand market, let the prices soar like anything. The results were not good. The demand for a property in Delhi started tumbling. Even the elite segment found the properties out of their budget. As the demand started falling, the number of unsold inventories kept on building, month after month. And as the situation worsened, the developers were left with piles of unsold inventories. This, in turn, resulted in step-downing of the capital rates

In general, the average period for the unsold properties is around 15 months, but in case of Delhi, it has reached over 23 months. Such a scenario suggests that the prices are going to see a fall. An estimated depreciation of 12% is expected in the city. This would be good for the end-users who were holding themselves back from making any investment on real estate. The market is already seeing a correction in some localities of South Delhi. The prices in the localities like Vasant Kunj and Defenece Colony had crossed all the possible limits.

The developers had enough of their manipulations of property in Delhi; now the market trends are expected to incline towards end-users. And with market going in favor of buyers' sentiments, the demand shall rise again.

Makaan.com, a property websites with intelligent search facility, allows the end-users buy, sell, or rent property in Delhi, and other major Indian cities. Buyers can locate properties in their preferred localities and within the price-brackets that suit them the best.

Delhi/NCR Real Estate: Riding on Faults

Delhi Property at Makaan.com

Well, as we are talking of property in Delhi, most of us already know that owning even a luxurious 1-BHK in this area would require a big, fat saving on your part. And sometimes, it would take about 8-10 years or even more to save such a big chunk... It depends on how much you earn and what other capital investments you are engaged in. Even if money is not such a big issue with you, there are certain matters that may require to sit back and ponder upon while buying a Delhi property.

Choosing a developer/builder with good reputation  in the real estate is one thing, but that, in no way, ensures that you won't be duped or offered much less what you paid for. Unfurling the pages of a property newspaper, I got to read some not-so-good experiences of the owners in Greater Noida. A leading developer submitted his completion certificate to the authorities but did not apply for the water connection. Result? The residents are forced to consume ground water. But that is not the end of their woes. They are still paying the bills for the supply that they never consumed!!

Similar is the story of a few posh colonies in Gurgaon and other cities under Delhi/NCR real estate . Residents, only after the occupation of the houses, come to know of the loopholes and can do nothing more than registering complaints. So, the point is that a buyer must, before purchasing is all done, make sure of the amenities that are provided. Also, he must verify the validity of each and every document provided by the developers, builders, and land owners.

It is always good to inquire about a property you intend to buy a house from the local residents. Ask them about their experiences and problems, if any, they have been facing living in the locality. It may be possible that they won't tell every nuance involved, but they know the things better, much better than you. Isn't it? Talk of the residential property in Delhi/NCR: even the good localities in southern region face acute water and electricity shortage. It indicates that paying even hefty prices for a property in Delhi/NCR, it  cannot be ensured that you would not end up ruminating. Scrutinizing is what you should do at every step.



 

Property in Delhi/NCR

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Delhi has been the hub of real estate business for long, thanks to the commercialization that it has seen over years. Property in Delhi/NCR remains a hot topic throughout the year, a scenario that is attributed to the availability of the residences available and the fast pace at which new projects have been coming into being in the market. In response to the high demand for property, the city and its surrounding areas have captured a huge real estate market.

As far as the demand for the residential property is concerned, the city has never seen a downturn. Being able to meet the demands of an avant-grade society, it has remained popular among both sellers as well as buyers of the real estate business. For the buyers looking out for property in Delhi/NCR, the choices are unlimited. The areas in and around Gurgaon, Noida, Greater Noida, Ghaziabad, Faridabad, and Dwarka have seen an unprecedented growth in term of construction of multistories. This, in turn, has attracted a large chunk of population to seek residential property in Delhi and its adjoining areas.

Let's us have a deeper look into the Delhi/NCR real estate scenario at present. Apart from Gurgaon and Noida, there are several areas in the city itself that are particularly popular among buyers. See, for example, the status of property in South Delhi. The localities like Hauz Khas, South Ex., Greater Kailash,  New Friends Colony, and Chankyapuri are the favorites of elite and upper middle class. Most of these colonies are posh and the houses are laced with all the mod cons. So, the rates are obviously higher here, soaring to crores! If  money is not the major concern for you and it is the luxury you are looking for, opt for a house here.

In other parts of the city like Bindapur, Karol Bagh, Uttam Nagar, Kohat, Naraina, Hari Nagar, and many others, the rates are relatively lower and within the reach of the middle and the lower middle. Though not much of the new property Delhi is popping up due to lack of any worthwhile space left, the vertical construction is still going on.

If you are an owner or a developer and have some property for sale in Delhi, advertising on real estate portals can be a really good idea. There are many property sites that are dedicated to the buying and selling business; have a look through them and search what you are looking for. Makaan.com is one such portal where you can find both the residential as well as commercial spaces to buy, sell, or rent in major cities of India.
  

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

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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.