Delhi is the real hotspot in the real estate industry due to many reasons. There is an incessant and ever-growing demand for properties of various types in the national capital of India. Delhi properties have been showing a consistent appreciation and value addition for several years, barring the recent recession. The primary reason for Delhi being the realty hotspot is its significance being the national capital. Hence, the host of Central Government Departments and it instrumentalities along with the employees manning the entities need space for offices as well as accommodation for their staffers. Further, the national capital is the most preferred educational centre with prestigious centres of learning such as the Indian Institute of Technology, Jawaharlal Nehru University, Delhi University, etc. This academic significance draws students and others to this centre. This also directly and indirectly contribute to turn Delhi into a realtors hotspot.
There are other reasons for the growing real estate market in Delhi. The city’s prominence does not lie in it being the national capital alone. Delhi is at the centre of a conurbation of commercial spots. The capital city and a cluster of satellite cities lying around it are collectively called the National Capital Region (NCR). The main satellite cities are Gurgaon, Noida, Ghaziabad and Faridabad. These satellite cities in themselves are industrial cities. Their close proximity to the national capital has all the more enhanced the commercial significance of Delhi which in turn keeps the property value going up incessantly. Further, in the new international economic equations, the Indian subcontinent is emerging as a major world market. In consequence, the caravan of multinational corporations entered the subcontinent to open shop. Invariably, the national capital emerged as a hot preference. This has also contributed to turn Delhi into a realty hotspot.
There is phenomenal increase in real estate value at some of the commercially most significant spots in Delhi. For instance, Delhi’s Khan Market is really the real estate hotspot in the Delhi real estate industry. The place was in news recently as a particular spot in that locality marked the highest price for commercial property in the world. Recently, there was a sealing drive for illegal commercial properties in the capital. It was expected that it would adversely affect the real estate industry in Delhi. But it is going unaffected. In the residential property sector, in the most preferred residential locations in the South Delhi, prices are running astronomical.