A Comprehensive Guide to the Real Estate Market of Delhi NCR

Sujan Afi S

Introduction

Delhi, the capital city of India, is one of the important financial hubs of the country. The real estate sector of Delhi NCR is one of the largest ones. The term ‘NCR’ stands for National Capital Region where nearly 27 million people reside. According to the last census, over 16 million people reside here at present. The population density is also quite high.

It not only attracts domestic investors but also foreign investors for investing in the residential as well as commercial real estate market of Delhi NCR. With the high rate of urbanization and innovation of new technology, the real estate market of the Delhi NCR is growing at a fast pace. Owning a residential as well as commercial real estate property in Delhi NCR is seen to be a prestigious matter; this, in turn, attracts more investors.

Status of the Real Estate Market of Delhi NCR

Delhi Property Market © Housing.com

Delhi NCR offers various kinds of real estate properties to the buyers like residential flats, personal houses, private offices, administrative buildings, marketplace, mall, service centers, etc. The real estate market of Delhi NCR includes the real estate market of Delhi NCT and many other cities like Gurgaon, Faridabad, Noida, Ghaziabad, etc.

The real estate market of Delhi NCR always attracts investors because of its lucrative return opportunities. The high demands of real estate property help grow several hotspots for the real estate market in the Delhi NCR region. High availability of and accessibility to various amenities and services like transport systems, hospitals, education, and administration etc. is also responsible for the greater demand of real estate property in Delhi NCR. Cities like Noida, Ghaziabad, Gurgaon and Faridabad have strong commercial and industrial back up which helps grow the real estate sector of Delhi NCR. The present scenario of low-interest rates, the easy home loan process and smart housing scheme etc. attract buyers. Being the administrative hub of the country, it enjoys easy business facilities. 

The twin city Noida-Greater Noida is an attractive place for the residential real estate market in Delhi NCR. Noida International Airport, Film city, Data Centre Park etc. boost the residential real estate market of Delhi NCR. The extension of the metro route also indicates a bright future. Gurugram is also an important hub for the residential real estate sector of Deli NCR. Due to high commercialization, the demand for commercial real estate property like office space is very high in Gurugram. Delhi NCR includes satellite towns that allow people to get a room at an affordable price! Uttam Nagar is also recognized as a hot spot in the real estate market of Delhi NCR where the property value and rental amount are available at a reasonable amount!

Difference Between the Real Estate Markets of NCT Delhi and NCR Delhi

There is a difference between the real estate market of Delhi NCT (National Capital Territory) and Delhi NCR (National Capital Region). Colonization is not allowed in Delhi NCT but it is allowed in some cities of Delhi NCR. Delhi NCT has its RERA (Real Estate Regulatory Authority) too.

Impact of Covid–19 in the Real Estate Market of Delhi NCR

The impact of unforeseen pandemic Covid – 19 is witnessed in every sector of the economy throughout the globe; the real estate market of Delhi NCR is not out of it. A large dip in the real estate market of Delhi NCR is found in 2020 in comparison to 2019 (as a direct impact of Covid–19). The sales of residential real estate property witnessed a fall of 50% in 2020 compared to the year 2019. Fortunately, the present scenario indicates a sign of a turnback. For instance, the housing sector of Delhi NCR showed a 50% year-on-year (Y-O-Y) growth during April-June, 2021. In June 2021 the real estate market of Delhi NCR ranked the top for online property search among 42 cities of the country.

Why Invest in the Real Estate Market of Delhi NCR?

Delhi NCR is very attractive for real estate investors. The reasons behind the attraction of investors in the real estate market of Delhi NCR are mentioned below: 

  • Friendly policies for industries
  • High opportunities for job
  • Very well infrastructure
  • High future potentiality
  • Appreciating investment
  • The living standard is very high
  • Lucrative returns opportunities for investment

Future Scenario of the Real Estate Market of Delhi NCR

Being the capital city of the country, the real estate market of Delhi NCR is promising. With the progress of time, it attracts more numbers of investors and developers which ultimately promotes the growth of the real estate market of Delhi NCR.

Conclusion

I hope that I have been able to give a piece of comprehensive information about the real estate market of Delhi NCR. The real estate market of Delhi NCR is very promising. Therefore, it is attractive to investors. 

You might have the urge to know more about Delhi NCR and its Real Estate market. Hence, I have attached a link below so that you might be benefited to some extent.

Still, if you have any doubt regarding this, you might contact us at info@roodland.com. We promise to reply with a promising solution at the soonest!

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