Guide To Buying Commercial Property In India
Delhi is the heart of India being its capital and the latest haven for planting swanky malls and shopping centres. This upscale hub of commercial flourishing marks its constant progress through new skyline being painted in the commercial real estate ambience of Delhi and NCR. Newer areas are coming up with their area specific worth of building retail outlets and offices in order to tap potential of benefits of property investments. Both Delhi inclusive of NCR regions are infusing larger projects which are potent to give rise to steady and booming returns on investment.
Some of the budding areas in Delhi to surface and join the bandwagon of developed property market are Jasola from South Delhi, Wazirpur from North Delhi with big projects. While middle or average income Indians are blending to the crowd of upper scale buyers of jazzy, expensive and plush shopping centres and tasting of purchasing opulence. Malls being and have been built in Delhi and surrounding areas mirror the international standard of edifice in the heaven and hub of shipping festival - Dubai and Singapore. In aggregate, Delhi and NCR have over 150 arcades and gracious malls possessing around 26.2 million square feet of lands as per estimation taken in 2006.
Delhi Commercial Properties
Commercial property in India is experiencing layers of makeover as property developers are decking up Delhi with avant-garde architectural shapes and dimensions. Commercial properties are attracting huge investment and have becoming a good alternative to residential property investment. And, why not? After all, commercial properties are alluring investors with higher rental revenues from 8 to 10 percent which is nearly double than 4 to 5 percent scope involved in residential properties.
The areas in Delhi which have been circled by investors as the hottest commercial zones are Connaught Place and some places in South Delhi which see swelling rental rates and near zero level vacancy. Monthly rental rates in such areas rise from Rs. 100 to Rs 150 per square feet. Office space is also a remarkable part of the commercial property developments in Delhi as zones like Saket, Jasola in South Delhi have been aim of major developers of Delhi and NCR including Unitech and DLF and many others.
In Saket, prices for a commercial property targeted for building office space can be about five thousand INR per square feet. Now this was the scene viewed a year ago and now it has escalated to Rs 13,000. Similarly, in Jasola the property prices have soared from the range of Rs 4,500 or 5,000 to Rs 12,000 per square feet within six months.
By: ankita tyagi
About the Author:
Ankita Tyagi is expert content writer on real estate and property India. For more details on commercial property India and residential property India visit:- NextGenProperty.co.in
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