New Delhi Property - Where Demand Never Fades!

The city of Delhi has been the capital of the country for over a century now. Therefore its importance has only grown and never diminished. The fact that Delhi has always witnessed demand for houses and property is evident from the existence of Noida and development of Gurgaon.

Noida was planned as an alternative to accommodate the rising population of the city long back in the seventies. The growth of Gurgaon can be attributed to the presence of the airport as well as Delhi in the immediate vicinity. 

All in all, the city is one of the few cities in the country where the demand for houses has never faded and it would not fade either in the times to come.

However the city- along with the nation- did suffer a setback in the past few years because of the slow economic growth. Given the high cost of houses and high interest rates, the growth of the property markets suffered. The lack of infrastructure development in the peripheral parts of the city was also because of the slow economic growth.

There were many projects under development in those areas which were banking on the government initiated development. Since that never happened, these projects had to be abandoned. Now the situation however has started to change. 

After a long time, the city has experienced a high demand in industrial products and the demand for real estate in Delhi has followed close at heels. It seems that the time is right to invest in residential property in Delhi once again.

How has the Delhi market emerged?

There are parts of Delhi where property development has been possible even today. Many of these parts lie in the peripheral parts of the city. Over the years, most of them have already been extensively developed leaving lesser and lesser room for creation of new homes. Therefore Delhi property is one of the most expensive properties in the country.

In the year 2014, there was news of development of the property business in the south of the city. the properties in areas near Qutub Minar were developed and sold off quickly.

This was not prime residential development but nevertheless witnessed a swift rise and saturation. The high interest rates prevented property development elsewhere. The buyers were also not willing to opt for dearer home loans. Therefore the availability of new ready to move flats in Delhi was less.

The rise of Delhi property business

The situation has changed now. The presence of a proactive government at the centre as well as the state level has ensured that there is smooth economic development. Additionally, the reduced interest rates have made it easy for property seekers to opt for home loans now. This is why more builders are also bale to invest capital in property development. The demand has soared again as the economy has exhibited positive growth.

To Conclude- Housing.com Edge

To help property seekers find homes in the city, property portal housing.com has already established its operations in the city. The portal now allows end users to learn about the prevailing trends of property in the city, search for flats in Delhi for sale with ease and reliability and even opt for equitable home loans off the portal. 

The reliance on data analysis and technology innovation has helped the portal become a reliable resource. 

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