Property Trends in West Delhi
West Delhi is one of the fastest growing areas in Delhi coming up with various residential
, commercial and retail setups. Large number of offices, shopping malls, retail outlets of world's leading brands, 5-star and international hotel chains, food joints and cafes, wholesale stores and many other developments can be seen in the region. Real estate in West Delhi scores high on the preference lists of both buyers and investors.
Real estate in India has been blossoming again post recession as the developers and investors come forward to make property transactions. The realty industry is burgeoning across the cities, towns and suburbs of the country in full swing. The commercial wave has been instrumental in the gargantuan expansion of Indian property sector. As largest companies of the world- banks, BPO, IT/ ITes, etc. - kept coming in creating demand for office spaces, the need for residential and retail property also mounted up. To cater to this colossal demand, all small and big cities are being explored and their potential for land development is all set to be unearthed. But along with this has come considerable price appreciation and so, property rates in metros are especially skyrocketing. The hitherto neglected areas in metropolises like Delhi, Mumbai and Bangalore are also being worked on and brought to international standards.
West Delhi in the national capital has always been a purely residential area for middle and high income groups. But, it has been witnessing large number of commercial and retail developments in recent years matching up the standards of most posh localities of the city. From office spaces to commercial complexes to retail outlets to shopping malls to multiplexes- all kinds of structures are coming up in the area. The commercial
property in West Delhi is among the most sought after ones in the entire state for its high returns and potential for growth. In fact, it ranks 2nd after South Delhi in property preferences in the national capital. However,
property in Central Delhi also scores high as far as commercial realty segment is concerned. Central Delhi is home to popular areas like that of Karol Bagh, Connaught Place, Kashmiri Gate, Rajendra Nagar, Daryaganj, Mahipalpur and others.
West Delhi includes Dwarka, Vikas Puri, Punjabi Bagh, Paschim Vihar, Janak Puri, Rohini, Rajori Garden, Delhi Cantt., Patel Nagar, Naraina and various others. This part of the city extends an interesting array of shopping destinations with both local markets and multi-storied shopping malls available just next to each other. Some of the leading markets are located in Rajori Garden, Tilak Nagar, Punjabi Bagh, etc. and swanky malls are in Rajori Garden, Rohini, Janak Puri and Subhash Nagar. In addition to this, it has some of the best academic institutions like schools, colleges, coaching centers and computer education institutes. It even has some of the best known hospitals of the city like Deen Dayal Upadhyay Hospital, Rajeev Gandhi Cancer Hospital and Indraprastha Hospital. It has great variety of eating joints and pubs for food and drink lovers as well as retail outlets of leading brands.
West Delhi real estate has been flourishing with new structures everyday representing the swift paced growth of the western region of the city.
Rajori Garden and Janak Puri are prominent residential and commercial center while rest of the region is mainly a housing hub. The best feature about West Delhi property is that it is well connected to rest of the parts of the city via Metro, buses and auto rickshaws that has helped shoot up property prices. It is one region where commercial development has began much after the residential settlements unlike other areas.
Property Trends in West Delhi
By: Gurleen Walia
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