Real Estate Prospects in Delhi

By: Bikash1003@yahoo.co.in

The capital city of India, New Delhi is one of the top three preferred investment destinations in Asia. The economic boom in the country's economy has filtered down to almost all its sectors, especially real estate. The rising income levels of the people and the consequent increase in the buying capacity are contributing positively to the surging real estate sector.

Noticing the positive Delhi property news, many people are purchasing property in Delhi either for future occupation or for rental purposes. Rentals in legal commercial property have risen by 20% to 30% in the past few months. On the whole the real estate demand in the capital is increasing by 30% to 40% yearly.

The spreading metro network in Delhi has spurred the property prices along the planned routes. The Indian government has reduced the stamp duties and has allowed a 100% foreign investment in large projects. Also, the sustained activity of the MNC's and the $23 billion software service sector is a major factor. So, it not surprising that the demand for the residential and commercial property is dramatically soaring. It is likely that in Delhi and the adjoining areas the demand for organized retail space will rise to $14 billion by the end of the year 2007.

Since a hoard of finance companies are offering great deals and dipping interest rates, buying Delhi properties has become all the more easy. Many prominent financing agencies like HDFC, ICICI, RBI HSBC, etc. have set up bases in Delhi and the stiff competition is benefiting the consumers. Homes for sale in Delhi are an attraction to the customers who no longer have to struggle with their financial statuses to purchase them as easy home loan facilities solve that problem.

If you also want to buy a house in Delhi, there are a number of available options from apartments to villas. Buy a flat in Delhi and you can be sure that the investment journey will be hugely profitable. Not only are the prices expected to rise in the future, they are expected to bring great returns to the property owners in Delhi. With the Taj Expressway and the NH8 Highway projects on the charts and the expected makeover to be given to the city for the Common Wealth Games 2010, the real estate delhi prospects are very bright.

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