subject: Property In Delhi Has Inevitable Opportunities To Own Premium [print this page] The prices of property in Delhi are getting higher day by day. It has been reported that the property rates especially in south and central parts of Delhi are comparable to those in cities like New York and London. Currently Delhi has an FAR of 1.2 (and 3.5 for plots under 100 sq metres) for residential and 1-1.5 for commercial compared to 13 in Shanghai and 15 in New York and Manhattan. today the average prices of Delhi property are at least two to three times that in Gurgaon and Noida.
The main reason that the residential property in Delhi are getting high is because number of people from different parts of India are continuously migrating into the Delhi NCR to study, explore new businesses, land a job, or for career advancement . Thus, the population here is increasing exponentially and there is a huge requirement for residential and commercial space, as well as social infrastructure. The increase in the development of expressways and national highways have turned the city into the hub for realty action. The continuous advancement in metro network and infrastructure by respective state government and civic authorities have really given an enhancement to the Delhi real estate profile.
According to the Sushant Muttreja of Earth Infrastructure who says that the expressways and national highways are the most preferred locations where all property development are taking place. The company recently launched two residential property in Delhi, one on the Dwarka Expressway and the other on the Yamuna Expressway. Muttreja again states that those who are looking for affordable housing is the perfect place to own.
According to the spokesperson of the Raheja Group, which has delivered couple of projects on the Dwarka Expressway, states that it is an ideal location for number of residential projects . The area is very close to the international airport, Dwarka as well as the new diplomatic enclave, which makes it an attractive location for buyers, considered from every possible angle. The reported data shows that the Delhi Index rose by 9%. Localities like Dwarka, Safdarjung Enclave, Greater Kailash I & II, Indraprastha Extension and Mayur Vihar Phase I were the major contributors.
Property in Delhi According to PropIndex tool, the real estate Delhi property prices being tracked across India, has seen a uniform rise in values across localities in North, South, West and East Delhi. West Delhi localities such as Uttam Nagar and Vikaspuri saw an increase of 3% and 9% respectively. North Delhi localities such as Sectors 13 and 24 in Rohini saw a marginal rise of 3% and 1% respectively. In East Delhi, localities such as Mayur Vihar, Indraprastha Extension and Vasundhara Enclave continued to witness a rise in the range of 3-6%. South Delhi localities have seen an unexpected boost as compared to the previous quarter. Safdarjung Enclave, Panchsheel Enclave, East of Kailash, Greater Kailash I, II and Shivalik witnessed a rise in the range of 6-14% this quarter. Most residential space that is in good demand in these localities is varying from the size range of 1,500-2,000 sq ft area.
