Nowadays, a man is judged not by his quality, but by the count of his assets!
Delhi without doubt is facing a big boom in the real estate sector. The GDP growth is been phenomenal in the recent years, constituting to around 8.2% (in the year 2008-2009), which is really higher than the prevailed GDP rate in the past, which was around 6%. The recent recession definitely affected the real estate growth in the capital city and the prices started to crumble down, but due to much better economic situations, compared to the other developed European countries, the real estate market has started to gain its momentum back. The rates per square feet have gone up to Rs. 11, 000 (per square feet) in the center of the capital city. The center part of Delhi had already faced huge developments in the recent years, now it is time for the development of the sub-urban areas of the city, yes, the sub-urban areas of the Delhi city are facing huge transmissions in terms of real estate developments. The neighboring areas in and around the Delhi city, such as Noida, Gurgaon, Ghaziabad, Faridabad, etc… have developed into big cities, thereby providing home to a huge prospects for real estates in these areas.
Types of Projects
Rates of Interests
The rates in the South Extension areas are increased to a maximum of Rs. 11, 000 per square feet, starting from Rs. 7000 onwards, the rates in and around the areas of Vasant Vihar constitutes around Rs. 3000-5000 per square feet, the rates have got well appreciated in the regions of Greater Kailash accounting to Rs. 11,000-15,000 per square feet, approximately. The rates would be comparatively cheaper in the regions, like Rajouri Garden, Janakpuri, Palam Gurgaon, Vaishalli… where the average rates ranges Rs. 3000 to 4500 per square feet.
Factors Influencing the Real Estate Growth in Delhi
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