Wednesday, July 22, 2015

Upcoming Property Hotspots in Delhi

We all know that the mainstream realty market in proper Delhi has received a jolt with burgeoning real estate prices, low demand and piled up inventory for developers. This has created an adverse situation for most developers in the capital but they are now foraying into newer growth destinations that are located in close proximity to several important city locations and possess untapped potential of their own. These are hotbeds for most upcoming residential projects in Delhi that you get to hear about these days. Property prices have been immensely high in places like Chanakyapuri, Golf Links, Aurangzeb, Prithviraj Road, Panchsheel, Shanti Nagar, Saket, Hauz Khas, Maharani Bagh, Friends Colony and Vasant Vihar among many others. These areas are usually home to several corporate tycoons, government officials and diplomats. There are several bungalows, houses and villas in these localities along with penthouses and apartments.

delhi's residential real estate hotspots


This central fabric of Delhi is no longer viable for developers owing to their unaffordability and lower demand levels. When it comes to finding new projects in Delhi, you should certainly check out development on the Dwarka Expressway, New Gurgaon and Noida Extension which are the go-to markets for developers in Delhi these days. The market has now shifted to end users completely as opposed to investors in the past. People are now trying to capitalise on lower prices in these growing areas as opposed to shelling out mini fortunes for properties in prime neighborhoods of Delhi.

There are several new projects in Delhi that have been launched off the Dwarka Expressway. The area has witnessed huge growth since 2009 onwards and several developers have been constructing their projects right beside this eight lane Expressway which connects Gurgaon and Delhi quite smoothly indeed. There are several projects that will be ready by this year and mainly cater to high end and mid range segments. Most projects are located in close proximity to the international airport and the Delhi city centre. The Greater Noida-Noida Expressway, Bhiwadi, Yamuna Expressway and Dharuhera are all well linked to most projects situated off the Expressway.

Several upcoming residential projects in Delhi have also been launched at northern sectors off the Dwarka Expressway including 103, 109-113, 106. Average returns in the entire region should increase by approximately 25-30% every year according to market experts. Noida Extension is primarily identified as a different location from Delhi but it is definitely being recognised as one of the emerging markets for developers in the capital. Noida Extension has been witnessing huge development in sectors like 1, 4, 2, 16C, 16B, 16D and the Greater Noida Knowledge Park V. However, this area is held as relevant in Delhi’s realty market as it is located only 18 kilometres away from Connaught Place, one of New Delhi’s most posh business and residential locations. Additionally, there is superb connectivity between Delhi and Noida and most professionals from Delhi usually travel to Noida where corporates and multinationals have their offices. Narela, near the Haryana border, is also being heralded as a future growth area for developers in Delhi.
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