Sunday, May 23, 2010

Delhi Property One of the Hottest Real Estate Destination in India

 Delhi Property One of the Hottest Real Estate Destination in India

Delhi is always known as a trendsetter in India's real estate industry. Delhi real estate is one of the largest real estate sectors in the country due to its status as the capital of India, higher per capita income, remarkable infrastructure and exceptional connectivity with national and international cities. It has attracted a large foreign direct investment since 1990s that led to many multinational corporations have set up its operational bases in Delhi and adjoining places also made Delhi real estate one of the hottest real estate destination in the country. Thus, Delhi property market has become a major attraction for global investors in the real estate development in the city.
Residential real estate
The demand for Delhi residential real estate market is always high due to large influx of tourists, expats, and students and professionals from other parts of the country. So, there is a huge demand for Delhi's residential plot due to which the adjoining locations of Delhi i.e. the National Capital Region (NCR) locations of Faridabad, Noida, Gurgaon and Ghaziabad is emerging as the hottest real estate destination next to Delhi real estate market. In Delhi real estate market, the properties sell for millions of rupees in the post areas of South Delhi. This trend is slowly moving towards the other parts of Delhi like Dwarka due to huge demand from the corporate leasing and diplomats who opt for high end luxury properties to stele down in the city. And also, Delhi residential rental values for residential apartments and independent houses are quite high.
The other emerging residential areas in Delhi residential real estate market are Dwarka, Jasola and Narela. The big realty companies like DLF, Ansals, Omaxe and Parsvnath are started launching international standards luxury apartments with modern amenities and facilities to both the investors and borrowers. The typical example is the NRI City by Omaxe in Delhi property market.
Commercial real estate
Delhi real estate is a prominent destination option for leading MNCs and Corporates to pour more investments that has led to the growth of commercial real estate market and also the current boom in Delhi property market is due to the large scale investments to host Commonwealth Games 2010 in the city. The city is gearing up to meet a large influx of tourists during 2010 that in turn leading to the growth of the hospitality industry in Delhi real estate market. Sooner or the later, Delhi property market us expected to have 27 new hotels, serviced apartments and other forms of real estate development with 4900 rooms in various portfolios in the next one to two years.
Meanwhile, Delhi Property expected to touch hundred shopping malls by the end of year 2010. The prime reason is due to the space crunch i.e. lack of land availability and limited resources has caused Delhi commercial real estate market to soar. The upsurge trend in the office and retail spaces has escalated the commercial property prices in Delhi real estate.
Till date, Delhi property market has attracted large investments in the commercial sector a compared to other metros due to its infrastructure, better connectivity and availability of professional work force.
Road ahead
In recent years, Delhi real estate scenario is changing due to low demand in acquiring luxury residential properties. Now, the focus is shifting towards the affordable housing concept irrespective of Delhi being the one of the top three preferred investment destination in Asia. Thus, Delhi is transforming as a popular investment destinations in the residential and retail real estate sector that has led to the price escalation making real investment deal worth for both the investors and buyers. This transformation has made Delhi real estate market to remodel itself from ‘walled city‘to a ‘World City' in the future.
(ArticlesBase SC #600662)
temp_86387 - About the Author:
Vanky Raman is a professional real estate consultant of India which provide you the latest informations of delhi property. and To receive FREE Indian Real Estate Newsletter log on to www.investinnest.com
Source:  http://www.articlesbase.com/business-opportunities-articles/delhi-property-one-of-the-hottest-real-estate-destination-in-india-600662.html