Delhi and NCR (National Capital Region) are amongst the fastest growing real estate hotspots in India. A recent report by Quikr states that in Q3 2016, out of the top 7 cities in the country, the NCR area saw tremendous development. Over 22% of the total newly developed properties in the country are in NCR which experienced a whopping increase of 81% in newly launched projects.
The demand for affordable housing is increasing faster now. NCR is said to lead the major cities in the numbers of unsold housing units in India, followed by the Mumbai Metropolitan Region (MMR), Bengaluru and Pune. This has resulted in the Delhi property rates taking a significant dip. Affordable housing projects in Delhi are now becoming a priority for real estate developers as over 59% of the new projects are for affordable housing units.
The NCR has various attractions for real estate investors and home buyers. It offers excellent infrastructure and connectivity with Delhi and other major regions. These are the areas that various experts advise to invest in, whenever you are considering real estate in Delhi.
Having a home in the national capital is a dream for millions in India. However, this dream is set to become a reality for a huge numbers of these prospective buyers. As Delhi property rates stabilize and if you are okay with the congestion and chaos, you can definitely think of stretching a little to buy a property.
The most popular areas for investment in Delhi are Ashok Nagar, IP Extension, Burari, Civil Lines, Chattarpur, etc. The recent redevelopment of the old DDA colonies along with the announcement of the Land Pooling Policy have given several new choices for home buyers looking for flats for sale in Delhi.
With the Metro now connecting the Greater Noida and Noida extension, the potential for higher ROI in property has increased manifold. Although there are numerous projects already in the possession phase, most buyers are looking for near-completed projects that have effectively lesser rates than previously announced at the time of launch of the project.
Noida Extension offers the best affordable housing units for home buyers with various renowned and new builders offering affordable housing units at considerably budgeted prices. Investors are being highly advised to invest in property in Noida as the prices are at an all-time low as of now which is soon set to change in 2021 as the Metro gets completed.
Gurgaon is slightly expensive than Noida and has higher property values but with excellent connectivity and infrastructure. Gurgaon mainly has a larger market for rental homes as leading corporates are situated in the region which brings thousands of employees from outside Delhi to seek residences in Gurgaon. Apart from this, Gurgaon is the preferred choice for major MNC’s to set up shop due to better quality office spaces and proximity to the IGI airport.