As per reports, Delhi-NCR is still one of the most attractive investment destinations for investors and end-users in spite of the earlier slump in the market and corrections in prices up to 10% in various areas. Reports indicate that overall housing inventory in Delhi has been on the lower side in Delhi over the last 2-3 years in comparison to Noida and Gurgaon. However, real estate demand will always be there feels experts since studies state that Gurgaon, Delhi, Greater Noida and Noida saw the highest number of migrants between 2001-2011.
The steady influx of migrants creates more housing demand in turn. There is a huge demand for affordable housing in Delhi-NCR. Areas that have done well in the real estate market in the recent past include South Extension II, Greater Kailash II and Panchsheel Park. The L-Zone is a major property hotspot for those seeking mid-range and affordable properties. This is located strategically between the IGI Airport, Delhi and Gurgaon and is proposed to be developed in the manner of a Smart City with all infrastructure including rainwater harvesting, camera based surveillance and solar power stations.
Uttam Nagar is another property hotspot and has witnessed considerable growth over the last few years. Property values are relatively affordable in Uttam Nagar and so are rentals. There is good connectivity to Vikaspuri, Dwarka and the IGI Airport. This area has solid future prospects as far as its property market is concerned.
Another micro market with huge potential is Rohini located in the north-western part of the Capital. There are two metro stations in Rohini and the residential market here finds takers amongst investors and end-users alike. There is great connectivity through the metro network to various parts of the city and also to the Bawana Industrial Area. The Phase 4 and 5 zones in Rohini have seen major development in recent years as well. The capital values of property are steadily rising and cheaper as compared to multiple zones nearby.
Reports indicate that people still find Delhi a highly favorable place to live in and hence there is a steady supply of buyers and investors in the real estate market in the National Capital. All of these people seek comparatively affordable and well-connected locations like the ones mentioned above. With improvements in metro connectivity, several other fringe areas will soon become real estate hotspots as per reports.
