Delhi Real Estate Boom Sparks Hotspots
With the booming economy and a vibrant market fueling the infrastructure atmosphere. Delhi is fast catching up with other cosmopolitan cities of the world in the real estate zone.
Real estate has grown by leaps and bounds and with the commonwealth games set to be held in Delhi, in the near future, it has lot of work to catch up with. The past year has also seen Delhi rising as the costliest commercial place in India, comparable to that of other economic super power nations like the united states of America and Great Britain , etc. Prices at commercial areas like Connaught place and Karol Bagh have seen a steep climb. Most of the developers concern on building residential areas like flats and bungalows in the outskirts of Delhi due to the paucity of land areas. As a result,the nearby cities like Noida, Gurgaon and Okhla is making use of this golden opportunity. Greater rise in the number of upper middle class family has catalyzed this need as most of the flats caters to this section with facilities like air conditioned rooms, modular kitchens ,2 to 3 bedrooms, green areas fulfilling most of the requirement.
Other sectors than residential areas is the mushrooming of Resorts, Spas,Golf courses in the surrounding areas of Delhi. This is another interesting aspect where it has lot of scope for future developments and expansion plans. Being the capital of India, Delhi attracts a major portion of the tourists visiting India. Due to this the real estate is in a win-win situation with both the government and common people asking for more infrastructural developments in the capital. The growing influx of people from other states for work or study related purposes has further bludgeoned, the teeming population of the capital. The best example is that of outstation students studying in various colleges of the Delhi University. With very few real estate developers taking their plight for building more residential areas, it has led to acute shortage of accommodation in the region. It is this major point which the real estate developers of Delhi has failed to notice for so long.
Another interesting point is the failure of the real estators(read both developers and provider) to meet their shortage of developing hotels of all budgets to meet the requirement for the upcoming commonwealth games. If this problem continues to mire in the future, then the future dream of Delhi becoming a global city without the problem of basic amenities will receive a big dent. But with the New Year we hope that the real estate in Delhi will receive a major boost and provided with proper implementation it will take the infrastructure in Delhi to much greater
