Robust Real Estate in Delhi

By: Amitabh Kumar

Delhi without doubt fares well in infrastructure, availability of professional work force and connectivity. Even as Delhi Real Estate Market chases ambitious plans in Real Estate before Commonwealth Games in 2010 arrives, Delhi Properties touch an all-time high.

Apartments in Delhi:
Private developers have been very prompt in completing residential flats in Delhi. Development of residential property in Delhi in the metropolitan area is also due to the relaxed norms for construction within the city in terms of floor area ratio and height of buildings.

Delhi Rental Rate:
The rentals of central and suburban business districts of Delhi (CBD & SBD), comprising areas such as Connaught Place and Nehru Place are peaking. However a correction is expected as the growth in rentals stabilizes. The recent demolition and sealing drives on commercial establishments in the city have been responsible for the huge escalation in rents in Connaught Place, and in the rest of the city.

The growing number of expatriates including diplomats in the city is pushing up rentals of rental homes in Delhi to as high as Rs. 114 per sq. ft in neighborhoods like Vasant Vihar. Corporate leasing greatly favours renting out high-end Delhi properties. Service Apartments in Delhi have come to be seen as a major alternative.

Delhi Property:
Prominent Real Estate Companies like DLF, Parsvnath and Ansals are launching sprawling luxury apartments in Delhi. The NRI city by Omaxe in the NCR is a self-contained township with amenities and facilities that compare well with international standards.

Real Estate Delhi is abuzz with heightened activity in the residential property segment as well. Private Developers are contending with the best of architecture to develop the Property in Delhi, now especially in Dwarka, Jasola and Narela.

Home rent in Delhi:
Rental Property in Delhi is offering substantial gains to landlords and lessors across Delhi, with property brokers in Delhi gaining from this situation and their lucrative business.
The rental values of residential properties like apartments and independent houses can be prohibitive in certain areas like Vasant Vihar and Vasant Kunj. Bungalows in Delhi are somewhere between 2 to 6 lakhs.

Jasola in South Delhi is sprucing up its commercial space, almost 75% of which has already been booked. Prominent companies like DLF, TDI, and Omaxe have been pro-actively involved.

Buying Property in Delhi:
Apartments in Punjabi Bagh, Rajourie Garden and Janakpuri have appreciated from Rs. 35-50,000 to Rs. 80,000 to one lakh. Home for sale in Delhi, those in Civil Lines, Ashok Vihar and Model Town can set you back by Rs. 80,000 to Rs. 1.20 lakh per square yard. In the residential market segment, properties sell for millions especially in posh localities of South Delhi and now stretching to Dwarka in West Delhi.

Retail Space in Delhi:
Leasing to brands like Zeiss, Adidas and Levi has become a trend in property market in Delhi. The city has taken well to large format retailing, and the demand for larger commercial spaces is further leading to appreciation in commercial property rates. Reliance Retail has recently acquired commercial property worth Rs. 980 crore in Vikas Puri, Rohini and Dwarka.

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