Real estate in Delhi, over the last few years, has become a major attraction for both builders and investors. The capital city boasts of an impressive infrastructure that includes services like an international airport, Metro rail, five star hotels, and world class luxury residential and commercial properties. Moreover, due to many multinational companies setting up their offices and commercial establishments here, the city has become a lucrative market for property investment. Demand for properties is also increasing due to the easy availability of home loans. Builders are offering luxury flats, apartments and homes at affordable prices. The face of the real estate market in the city is undergoing a huge transformation and with various development plans lined up by the central and state governments, the property market in the city is further expected to catapult to newer heights.
Upcoming residential developments
The central and state governments, through the Reserve Bank of India (RBI) and the Ministry of Commerce and Industry, Government of India and other agencies, have undertaken several initiatives to boost the residential property market of Delhi. These initiatives have collectively contributed to a higher appreciation of the residential properties in the national capital. Delhi is also the primary educational centre of India and attracts more people than other prominent cities. A city that is growing exponentially as can be seen from the various residential projects being developed there, some of these upcoming projects include:
Capital Greens: This project by the DLF Group in Moti Nagar comprises three towers of G+29 and G+25 floors having 150 apartments of 4 BHK with amenities like shopping centre, swimming pool, gym, clubhouse, etc. It is likely to be completed in April 2013.
Paramount: This project is being developed by Parsvnath Developers in New Delhi. It comprises five towers of G+12 floors having 3-4 BHK apartments with basic amenities. It is likely to be completed in March 2013.
Shalimar City: This township will be developed by the Aarone Group over 20 acre at Neeti Bagh.
Upcoming commercial properties
The commercial property market in New Delhi is considered as one of the top ten expensive markets in Asia. With the economic developments and other factors conducive for business growth, the number of companies setting up their businesses in this city is increasing. These companies are getting good returns on their investments, which in turn has increased the scope for further expansions. Delhi property rates also show a great deal of variation from place to place. Some of the commercial places like Connaught Place and Khan Market attract a lot of attention from the investors. The following commercial projects are being developed in the state:
Central Square: For retail space with basic amenities, this project by Purearth Infrastructure on DCM road comprises a tower having G+4 floors. It will be completed by March 2013.
Metro Project: The Delhi Metro Phase III by the Delhi Metro Rail Corporation will have four new corridors, 67 stations with 15 interchange points.
Lemon Tree Hotel: The upscale, reasonably priced, full-service Lemon Tree Hotel will be launched in October 2012. Located in the Hospitality District of the Delhi International Airport, this fifth business hotel of Lemon Tree in the NCR will feature 277 contemporary guest rooms and suites.
