Unless one is living under a rock, we all are aware of the sky high prices of properties in the country right now; especially the metropolitan and urban cities where it has become almost impossible for the common man to buy his or her own property. Delhi, Mumbai, Bangalore, Chennai are some of our metro cities which are the most expensive. Despite the high costs of the properties, real estate Delhi is on an all time high. And this interest is not just for commercial purposes for foreign investors, but also a major chunk of our NRI population has shown keen interest in buying residential and commercial properties in Delhi. In a recent survey, about 40 per cent of the enquiries for real estate properties in Delhi were from members of our NRI community.
Let us take a look at some of the reasons why this Capital city always has the attention of potential investors and buyers.
Capital of India– Delhi is the Capital of India and one of the most developed cities in the country. It is the permanent residence of our country’s politicians, business men and other elite people, who are in power of shaping the country. The Rashtrapati Bhavan, The Parliament of India, The Supreme Court and Cabinet Secretariat are all situated here.
Rich History- Delhi has around 5,000 years of history. It has the Qutub Minar, The Red Fort, Humayun’s Tomb etc. There is also a famous temple called the ‘Yogamitra’ temple, which is said to be from the era of the Mahabharata (India’s great epic story). The rich history of Delhi attracts a lot of tourists and history enthusiasts. It also has the famous Yamuna River which is said to be a holy river in Hinduism.
Educational Hub- Some of top colleges in the country like The Indian Institute of Technology (IIT), All India Institute of Medical Sciences (AIIMS), National Institute of Fashion Technology (NIFT), Indira Gandhi National Open University (IGNOU), Jawaharlal Nehru University (JNU), Jamia Millia Islamia, Hindu College, St Stephen’s College, Hans Raj College etc are located in Delhi. This has cause a huge demand for housing among students, many of which come from all other parts of India to gain top notch education in the Capital.
Industrial and Business Development- A lot of multinational companies are now set up here creating even more job opportunities than before. Gurgaon has an IT park now which has caused an increased demand for housing spaces. Every other day we have a new companies setting up bases here and expanding. This will only create more job opportunities for people.
Retail – There is already a plethora of retail options here. From high end to street shopping, people have lots of options. Looking at the lucrative market here several big international chains have further announced plans here. The options are only going to get wider.
Better Residential Options- Earlier only South Delhi had swanky properties, now it is not excusive to this place. Delhi is expanding at a very high rate. Even though south Dehi has retained its novelty and charm many new places in Delhi are emulating the plush trend. There are many luxurious apartments and township underway with ultra modern amenities. Due to the increasing population and demand the developers are making the best of this opportunity. Owing to space crunch, just like every other metro city, even Delhi is expanding into the suburbs.
So these are some of the reasons real estate in Delhi is on an all time high. It has the best returns on investment. If you have a lot of moolah, definitely consider investing here.