We always want to live in a good place. Don’t you? Though every city has its advantages and disadvantages, we tend to have a special corner for the metro cities and the developed cities of the nation.
So, let’s have a look at the real estate market of Delhi NCR and Ahmedabad. A comparative study of both the cities can help you decide which city is best for you to settle in.
Delhi is the capital city of India. It is a beautiful city full of beautiful architects, structures, gardens, etc. Who doesn’t want to have a house in that beautiful city? So, let’s have a look at the real estate market of Delhi NCR. If we know the state of the market then we can analyze who can afford to have a house there.
The real estate market of Delhi has transformed a lot in the past few years. Being the capital city, it has always attracted more people. Why? Because it is a prestigious matter to live in that city. Further, the price of the property is continuously increasing. Thus, you can say that it might prove profitable in the future if you buy a property in Delhi. Thus, people try to buy properties in Delhi.
Research says that the surrounding areas of the capital city or the areas that provide affordable housing have contributed much to the real estate sector of Delhi. Though people want to buy properties in the main area of the city, the properties are highly-priced. So, middle-class people can’t buy properties in the main area of the city.
So, they tend to shift their interest to the areas around the main city, like, Gurugram, Uttam Nagar, Dwarka- L Zone, Sector 65, Sector 68, Sohna, etc. As there is a significant demand for residential properties, commercial real estate properties are also developing at a fast pace. Why? Because there is the availability of workforce. Also, the residents have to buy their daily requirements. This also leads to the construction of commercial real estate buildings.
Apart from this affordable housing, the demand for the luxury house is also rising. Smart houses, villas, etc. are in huge demand in Delhi. However, those types of houses are bought by only a particular section of society. Not every individual can afford to buy them.
“While, on one hand, there has been a strong demand for residential units across categories, on the other, unsold inventory fast depleted to its lowest levels. To cater to the resurgent demand amid lowest inventory, more and more developers have come up with new projects.”Tejas Joshi, president, CREDAI Ahmedabad-GIHED, a city chapter of the Confederation of Real Estate Developers’ Associations of India (CREDAI)
Ahmedabad is called the Manchester of India. It is located beside the river Sabarmati. The government as well as the developers have taken an active part in developing the fiver front. The city has emerged as a very important place for economic as well as industrial development.
The city is well connected through railways, highways, etc. Thus, residential and commercial real estate buildings are emerging at a fast pace. Since the past few years, we have witnessed huge development of the city, especially the western part of the city.
People previously preferred to live in bungalows, villas, etc. However, after the pandemic of 2020, the demand for properties located in the suburbs and semi-rural areas is rising continuously.
If you want to buy affordable housing then you can buy a property in Nikol, Vastral, etc. Further, the areas around the Sardar Patel Ring Road are also in high demand.
In short, the city of Ahmedabad has a place for the people of all sections of society. You will find big bungalows, villas, luxury flats, etc. You will also find a small apartment for yourself where you can live happily with the small income you have!
I hope that I have been able to give you an overview of the real estate market of Delhi NCR and Ahmedabad. It is no doubt that the price of a property in Delhi will be a little more. Still, you can find a cosy little house for yourself in Delhi. The same is for Ahmedabad too.
This article is meant for helping you to make a better decision regarding the choice of the city for settlement. Still, it will be always better to consult with an expert.