Here's what's buzzing in Delhi if you are looking out for real estate appreciation...
Although the graphs of Dwarka, North and South Delhi continued to spiral down by a per cent from Jul-Sep 2015 to Oct-Dec 2015 quarter, the market can be called 'stable'. Delhi's market is going through the 'bottom consolidation' phase, which will take around 3-5 months to complete.
- Noida: Greater Noida Metro extension slated to be operational by March 2017
- Development of increase in circle the ambitious Delhi rates hiked property Mumbai Industrial registration cost in Corridor (DMIC) Noida project (Does this mean ‘Inclusion of Noida as a circle in the ambitious Delhi Mumbai Industrial Corridor project?)
- Bhiwadi gets site clearance for NCR's second airport
Here are the top five real estate hotspots in India's national capital and the reasons why they are in demand...
Sector 18A, Dwarka
- The proximity with Dwarka Expressway, which brings Indira Gandhi International only at a distance of 2.5 km is a major factor driving investors to this particular sector.
- Delhi Metro is making extended routes in Gurgaon, with the Metro line from Dwarka Sector 21 ready to connect with IFFCO Chowk.
- For the investors, the average range of Rs 8,032 per square feet is what attracts them to Dwarka Sector 18A.
- Connectivity is one of the several factors that lead to the rising demand in this area. The domestic airport, which is 17 km from Greater Kailash, Nizamuddin Railway Station is around 9 km, the international airport (IGI) is 22 km away, and the New Delhi Railway Station is around 15-16km from Greater Kailash.
- Premium area of Greater Kailash has recorded 3 per cent growth in capital. Good connectivity to strategic locations, proximity to lifestyle hangouts and location value has maintained the aura of these areas.
- For the investors, the average range of Rs 17,425 per square feet is what attracts them to Greater Kailash.
Sector 14, Rohini
- With two Metro stations to its credit, Rohini is a popular locality among end-users as well as investors.
- Rohini offers options for the low and mid-segment buyers, particularly in CGHS and DDA flats. The price correction on account of new areas coming up under the Master Plan Delhi-2021, investors undertaking distress sales and a slow moving market has made Rohini attractive again.
- For the investors, the average range of Rs 8,925 per square feet is what attracts them to Rohini
- The advent of Delhi Metro has changed the outlook of North and West Delhi regions. It has not only increased accessibility to the Central Business District and decreased commuting time but has also opened numerous new areas for development. One of the biggest locations to have been influenced by this Metro route is Azadpur, which grew up by 4 per cent in terms of capital values.
- North Delhi's Azadpur, where property prices rose to the tune of four per cent in Oct-Dec 2015, witnessed the inauguration of Azadpur-Prembari elevated road, spanning 1.6 km. This corridor is expected to decongest Ashok Vihar and Shalimar Bagh, while allowing unhindered flow of traffic along the Ring Road.
- For the investors, the average range of Rs 9,562 per square feet is what attracts them to Azadpur
Sector 18, Rohini
- The locales catering to the mid-housing segment saw a surge in capital values. To this end, Sector 18, Rohini, was the highest gainer, clocking nine per cent quarterly growth.
- The positive sentiments in Rohini may be attributed to the opening of the 4.4 km extension of the elevated Metro corridor between Jahangirpuri and Badli.
- For the investors, the average range of Rs 8,925 per square feet is what attracts them to Sector 18, Rohini.
Photograph: Adnan Abidi/Reuters
Tripti Rai, a keen observer who writes for 99acres and swears on fiction readings. Professionally working with a concentrated focus on real estate sector, she keeps her readers informed about latest developments in real time through her writing. When found not writing or reading, she is busy thinking about the next book or writing inspiration.