Delhi
has become a place of intense speculative activity. A quarter to
three-fourths of present property demand is believed to be from individuals,
who view Delhi as an ideal real estate destination for investment reasons as
well as habitation purposes. From the last few years the growth of real
estate has been at the rate of 30% on per annum basis.
With the ready availability of superior infrastructure and the booming IT
and BPO sectors the quality of life in Delhi has been on an upswing. The
emerging employment trends and high money jobs have helped in putting
purchasing and decision making powers into the hands of 20 to 30 years age
group. They form a major chunk of high salried individuals. With rapid rise
in awareness levels they are drawn towards furthering their growth in
investments and the spiraling real estate properties are considered as one
of the best options.
With a steady flow of qualified migrants from other parts of country to
fill huge vacum in employment oppurtunities, the future of real estate in
Delhi is on a sustained growth pattern.
The
primary features of the real estate senario in Delhi are -
The Demand:
There has been a substancial increase in demand with the entry of
corporates, who are planning relocation strategies for gaining legal office
space in Delhi. The consistent rise has resulted in a rise of 5-10% in
rental and capital values. With the potential for further rise in real
estate demand it has attracted a steady stream of inversors, pushing the
prices 2 to 3% upwards.
Basis for Boom:
For the past few years the real estate industry is riding on the wave of
favourable factors like easy availability of cheap loans, flexible repayment
options and meteoric rise in incomes. This confluence has resulted in making
property buying as a more affordable proposition.
Entry of Property Funds:
With the winds of change blowing across industry verticals, financing in
real estate is set to be more institutionalized. The recent decision of SEBI
a regulator of stock markets, has permited the entry of mutual funds in the
country. This feature will help real estate becoming undoubtedly the best
place to invest for earning huge dividends.
With
a dramatic increase in quality of life, favourably aided by a booming
economy and consumer market, Delhi has become one of the most seeked
destinations for investment in residencial properties. There is a spurt in
foreign and national construction and housing groups providing residencial
property options as the present market is ruled by the youths below 25 years
of age. Taking into perspective their working and earning patterns, the
emerging demand is going to give a long term sustained growth to the
residencial property sector.
Delhi has emerged as the most favored option for owning residencial
property as it is centrally located and with the addition of metro, it has
emerged as one of the most prominent well connected cities. Some features
that adds up to the USP's of owning rsidential property in Delhi are :
- Presence of premier educational institutions and renowned schools.
- Home to number of renowned intellectuals, museums and other places of
importance.
- High level of connectivity at various levels like - intra city, with
other states and the whole world.
- Emergence of high paying job opportunities with the coming of BPO's
and other multinationals.
- High returns on foreign investments and relocation prospects have
attracted investment from Non-Resident Indians (NRIs) and multinationals
to the capital.
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